1 TITLE: SUBTIT DOES GREEN INNOVATION HAVE AN IMPORTANT ROLE IN THE

2 EFFECT OF BOARD GENDER DIVERSITY AND FIRM PERFORMANCE?

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4 Purpose: This research is motivated by the development of the debates on the role of board gender
5 diversity and green innovation on firm performance. This study aims to investigate the mediating
6 role of green innovation on the effect of board gender diversity and firm performance.
7 Design/methodology/approach: This research employs regression analysis. The dataset using
8 samples of 518 public listed companies on the Indonesia Stock Exchange over the period of 2017 –
9 2019.
10 Findings: Based on 1,554 firm-year observations for the period of 2017 to 2019, the results
11 revealed that the presence of board gender diversity had a negative effect on green innovation and
12 the relationship between green innovation and firm performance was insignificant. However, we
13 found that board gender diversity showed a positive effect on firm performance. More importantly,
14 green innovation is not an essential factor in the relationship between board gender diversity and
15 firm performance.
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17 Research limitations/implications: This research used only sample companies in a single country,
18 therefore, the theory implication might apply to emerging countries with similar conditions
19 (Indonesia). Future research needs to do more in more samples with multiple countries. Also, future
20 research might apply with others corporate governance characteristics variables.
21 Practical implications: Our result findings, first, can be used to support the company to implement
22 the alternative of the low cost of green innovation. Second, this paper can be used to give insight for
23 the government of Indonesia in supporting the business-based environment by strengthening the
24 regulation on the environmental aspect, provide the incentives for companies with green innovation
25 implementation.
26 Social Implications: This paper’s result can be used as a reference to enhance women’s
27 participation in the board’s firm. Furthermore, this study also brings the changes of the community
28 behavior to use and consume the product with green and environmental concerns.
29 Originality/value: Our study contributes to the literature in many ways, first, on gender literature
30 that the presence of female directors on board is still proven have more commitment to improve the
31 firm performance. Second, the findings also provide an important insight of green innovation’s role
32 in the relationship between board gender diversity and firm performance that it is still a
33 controversial issue, where green innovation is not an important factor in the relationship of gender
34 to firm performance improvement
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36 Keywords: [Text Body] (Required field)
37 JEL codes: [Text Body] (Required field)
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40 1. Main headings (Level 1) (Garamond 13)
41 [Text Body]  (Garamond 12)
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43 1.1. Second-level headings (Garamond 12)
44 [Text Body]
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46 1.1.1. Third-level headings (Garamond 12)
47 [Text Body]
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49 Equations:

Intellectual Capital = Competence · Commitment (1)

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51 Tables:

  Information 1 Information 2
Information A Text Text
Information B Text Text
52 Table 1. Title of this table (Source)
53 Figures:

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55 Figure 1. Intangible Capital: Sessions and page views (Simo & Sallan, 2009)
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57 Declaration of Conflicting Interests

58 The author(s) declared no potential conflicts of interest with respect to the research, authorship,
59 and/or publication of this article.
60 Note: if there is some conflicting interest, please detail it.
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62 Funding
63 The author(s) received no financial support for the research, authorship, and/or publication of this
64 article.
65 Note: if the author(s) received financial support, please detail it.
66
67 References
68 Simo, P, & Sallan, J.M. (2009). Intangible Capital: An opportunity for PhD students and junior
69 researchers. Intangible Capital, 5(3, 227-234.
70 Porter, M.E. (1980). Competitive strategy. New York: Free Press
71 Intangible Capital (2007). Normas de publicación de artículos. http://www.intangiblecapital.org
72 [consulted: March, 2007].
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74 More info: APA STYLE HELP
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77 Endnotes and final Footnotes
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80 Horizontal pages
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