The Impact of Women's leadership on Financial Performance and Environmental Performance: The Intermediary Effect Based on Green Innovation

This paper undertakes an empirical investigation of how women's leadership relates to financial performance and environmental performance in Chinese enterprises. We use correlation analysis, regression analysis, Heckman two-stage model, and other methods to establish an intermediary model with regulatory effect. We then divided women leaders' psychological characteristics into four dimensions for the questionnaire survey and conducted empirical analysis combined with secondary financial data. The results show that women leaders can promote the improvement of enterprise financial performance and environmental performance. Furthermore, we find green innovation plays an intermediary role in the relationship between them. Corporate social responsibility can regulate the impact of green innovation on financial performance, and environmental performance plays an intermediary role in the process of impact. This paper enriches the research on the impact of women leaders on Chinese enterprises. At the same time, we hope to achieve a higher level of corporate governance and rational use of women leaders.