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While the burgeoning literature examining the relationship between corporate leaders’ political party preference and firm outcomes has conceptualized party preference in purely ideological terms, our research suggests the importance of also considering party preference as a social identity. Insights from both the ideology perspective and identity perspective in political psychology suggest that Republican CEOs likely prefer conformity more than Democratic CEOs, albeit for starkly different reasons. The ideology perspective sees differences in preference for conformity as an internal dispositional difference between Republicans and Democrats. In contrast, the identity perspective suggests that both Republicans and Democrats prefer to conform to co-partisans, but since Republican CEOs predominate in large public firms, Republican CEOs display greater conformity. Integrating insights from both perspectives, we …