My opinion:
I think it's depending on the guy, his age and how the beard and hair is styled. Guys in their teenage and 20s looks older and more mature with one which I guess is a positive thing when they're dating girls/women. But when they're between 40 - 60+ it's depending from guy to guy on both his beard and hairstyle plus his face. Beard can slim down a face, hide your double chin and wrinkles making you appear younger. But it can also make a person look older and especially if he has soft youthful facial features. It's because beard is a feature men gets when they're grown up.
This picture shows how facial hair affects your appearance. In my opinion this guy looks younger with a full beard than clean shaven and with a mustache.
I think this guy look younger without the beard.
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