Business success and businesses' beauty capital
We examine whether a difference in pay for beauty is supported by different productivity of people according to looks. Using a sample of advertising firms, we find that those firms with better-looking executives have higher revenues and faster growth than do otherwise identical firms whose executives are not so good-looking. The impact on revenue far exceeds the likely effect of beauty on the executives' wages. This suggests that their beauty creates firm-specific investments, in the form of improved relationships within work groups, the returns to which are shared by the firm and the executive.
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- Biddle, Jeff E & Hamermesh, Daniel S, 1998.
"Beauty, Productivity, and Discrimination: Lawyers' Looks and Lucre,"
Journal of Labor Economics,
University of Chicago Press, vol. 16(1), pages 172-201, January.
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- Hamermesh, Daniel S. & Meng, Xin & Zhang, Junsen, 2002.
"Dress for success--does primping pay?,"
Elsevier, vol. 9(3), pages 361-373, July.
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"Beauty and the Labor Market,"
NBER Working Papers
4518, National Bureau of Economic Research, Inc.
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- Hashimoto, Masanori, 1981. "Firm-Specific Human Capital as a Shared Investment," American Economic Review, American Economic Association, vol. 71(3), pages 475-82, June.
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