ISO 14001 certification and financial performance: selection-effect versus treatment-effect
By Iñaki Heras‐Saizarbitoria, José F. Molina-Azorín, Gavin P. M. Dick. 2011
257 citations recorded by the source corpus.
The paper explores the bi-directional relationship between ISO 14001 certification and financial performance with the aim of shedding light on whether better performance is due to the beneficial effects of ISO 14001 or due to selection-effects where better performance precedes accreditation. The study uses a five year longitudinal analysis to compare the financial performance of firms in Spain before and after certification. The results of a multivariate panel data analysis find that firms with better than average performance have a greater propensity to pursue accreditation but there is no evidence that improvements in performance follow certification. This suggests that the inference that environmental variables cause improved financial performance may be unwise in research studies that can only measure association.
Subfields: Marketing, Strategy and Management
View Paper: https://www.semanticscholar.org/paper/0a9310f502b024a6807819ff57a588c4547c2ee6
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In Marketing
In Strategy and Management
- Waris Ali
- Hung-Chung Su
- K. Linderman
- Suvrat S. Dhanorkar
- J. Frynas
- Dima Jamali
- Uwafiokun Idemudia
- Peter Lund-Thomsen
Citations in the corpus
- The Role of Normative CSR‐Promoting Institutions in Stimulating CSR Disclosures in Developing Countries (2018, background): “For example, some studies specifically showed that the adoption of certifications, in this case ISO 14000, results in better environmental performance (e.g. Heras-Saizarbitoria et al., 2011; Potoski & Prakash, 2005).”
- A competitive advantage from the implementation timing of ISO management standards (2015, result): “Research on ISO 14001 has yielded similar results, some studies found that implementing ISO 14001 had performance benefits (de Jong et al., 2014) while others did not find support (Heras-Saizarbitoria et al., 2011; Link and Naveh, 2006).”