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ISO 14001 certification and financial performance: selection-effect versus treatment-effect

Dick, Gavin P.M., Heras?Saizarbitoria, Iñaki, Molina-Azorin, Jose F. (2011) ISO 14001 certification and financial performance: selection-effect versus treatment-effect. Journal of Cleaner Production, 19 (1). pp. 1-12. ISSN 0959-6526. (doi:10.1016/j.jclepro.2010.09.002) (KAR id:33403)

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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 average performance have a greater propensity to pursue accreditation but there is no evidence that improvements in performance follow certification. This suggests that a zealous inference of environmental variables being the cause of improved financial performance may be unwise in research studies that can only measure association.

Item Type: Article
DOI/Identification number: 10.1016/j.jclepro.2010.09.002
Uncontrolled keywords: Keywords: Environmental management; Certification; ISO 14001; Financial performance; Causation.
Subjects: H Social Sciences > HF Commerce > HF5351 Business
Divisions: Divisions > Kent Business School - Division > Kent Business School (do not use)
Depositing User: Gavin Dick
Date Deposited: 13 Mar 2013 17:06 UTC
Last Modified: 11 Dec 2023 11:59 UTC
Resource URI: (The current URI for this page, for reference purposes)
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