2011
DOI: 10.1016/j.jclepro.2010.09.002
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ISO 14001 certification and financial performance: selection-effect versus treatment-effect

Abstract: 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 ave… Show more

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Cited by 203 publications
(144 citation statements)
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References 93 publications
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“…Conversely, inertial patterns without substantial changes of the environmental responsiveness are also evidenced in such longitudinal approaches (Dahlmann and Brammer, 2011). The relationships between performance and competitive advantage over time also show divergent findings (Bansal, 2005;Heras-Saizarbitoria et al, 2011).…”
Section: Evolution Of Corporate Greeningmentioning
confidence: 96%
“…Conversely, inertial patterns without substantial changes of the environmental responsiveness are also evidenced in such longitudinal approaches (Dahlmann and Brammer, 2011). The relationships between performance and competitive advantage over time also show divergent findings (Bansal, 2005;Heras-Saizarbitoria et al, 2011).…”
Section: Evolution Of Corporate Greeningmentioning
confidence: 96%
“…Heras-Saizarbotoria et al [85] ISO 14001 certification, ISO 14001 certification data (called "environmental performance") Return on assets (called "financial performance") Firms with better than average performance have a greater propensity to pursue accreditation but there is no evidence that improvements in performance follow certification.…”
Section: Analysis Of the Papers Related To The Relationship Between Ementioning
confidence: 99%
“…Ich badania wykazały, że większą skłonność do certyfikowania systemów mają przedsiębiorstwa charakteryzujące się wyższymi niż przeciętne wynikami finansowymi, co uzasadnia ich względnie lepsze wyniki także po wdrożeniu systemu. Nie wykazano natomiast, że poprawa wyników następuje na skutek certyfikacji systemu [Saizarbitoria i Landín 2011;Heras-Saizarbitoria, Molina--Azorín i Dick 2011].…”
Section: Efekty Wdrożenia Znormalizowanego Systemu Zarządzania śRodowunclassified