Via All About Beards, http://www.beards.org/impressions.php
Psychologist Robert J. Pellegrini reported in Psychology, 1973, Volume 10, No. 1, the results of an experiment on the perception of male personality as a function of varying states of beardedness. To carry out the experiment, Pellegrini hired eight full-bearded young men who were willing to have their beards fully shaved off for a payment of ten dollars. All of the full-bearded men were caucasians. Their ages ranged from 22 to 25 years.