Innovation and Green Performance of Female-owned Firms in Emerging Economies: The Mediating Role of top Managements Team Meeting´s Intensity

Abstract

The green performance of firms and their ability to innovate are crucial for competitiveness in Central and Eastern Europe (CEE), where companies face increasing environmental demands from stakeholders. Despite growing interest in sustainable business practices, female-owned firms – and mostly their innovativeness and green performance – remain underexplored, even though they tend to be more engaged in environmental issues. Moreover, CEE enterprises face challenges related to access to financing, decision-making, and strategic management, affecting their ability to integrate innovation with environmental goals. Against these lines of argument, this study aims to explore how the intensity of top management team meetings with (i) suppliers, and with (ii) employees involved in production activities influences the relationship between R&D investments, innovation, and firms' environmental performance. Our findings show that frequent top management team meetings positively influence firms’ ability to transform R&D into innovations, leading to improved environmental performance by providing a structured platform for aligning strategic decisions, optimizing resources, and enhancing internal coordination. In contrast, top management team meetings with suppliers do not consistently foster innovation, particularly in female-owned firms. These differences suggest that while top management team meetings strengthen the link between R&D and sustainability, top management team meetings with suppliers may require restructuring to support ecological transformation more effectively. This study highlights the role of managerial decision-making and structured meetings in linking R&D with green performance and provides insights into how firms in emerging economies can optimize internal and external managerial interactions to enhance sustainability outcomes.