The financial impact of standard stringency: An event study of successive generations of the ISO 9000 standard

Stephen J. McGuire; David M. Dilts

doi:10.1016/j.ijpe.2007.02.045

The financial impact of standard stringency: An event study of successive generations of the ISO 9000 standard

Stephen J. McGuire, David M. Dilts

Research output: Contribution to journal › Article › peer-review

73 Scopus citations

Abstract

While ISO 9000 has been shown to improve internal metrics of firm performance, external measurements may be unaffected. This paper examines the economic value of successive generations of the ISO 9000 standard by assessing the equity returns of 204 firms certified between 1999 and 2002. This study also examines the economic effects of ISO 9001:2000 versus the superseded 1994 standards. The complete sample experienced no significant changes in stock price. The market reaction to ISO 9001:2000 certification is significantly more positive than the reaction to ISO 9000:1994 registration.

Original language	English (US)
Pages (from-to)	3-22
Number of pages	20
Journal	International Journal of Production Economics
Volume	113
Issue number	1
DOIs	https://doi.org/10.1016/j.ijpe.2007.02.045
State	Published - May 2008
Externally published	Yes

Keywords

Event study
ISO 9000
Quality
Standard stringency

ASJC Scopus subject areas

General Business, Management and Accounting
Economics and Econometrics
Management Science and Operations Research
Industrial and Manufacturing Engineering

Access to Document

10.1016/j.ijpe.2007.02.045

Cite this

@article{6544f6723cf04ed7b84a749dfa38ffd3,

title = "The financial impact of standard stringency: An event study of successive generations of the ISO 9000 standard",

abstract = "While ISO 9000 has been shown to improve internal metrics of firm performance, external measurements may be unaffected. This paper examines the economic value of successive generations of the ISO 9000 standard by assessing the equity returns of 204 firms certified between 1999 and 2002. This study also examines the economic effects of ISO 9001:2000 versus the superseded 1994 standards. The complete sample experienced no significant changes in stock price. The market reaction to ISO 9001:2000 certification is significantly more positive than the reaction to ISO 9000:1994 registration.",

keywords = "Event study, ISO 9000, Quality, Standard stringency",

author = "McGuire, {Stephen J.} and Dilts, {David M.}",

year = "2008",

month = may,

doi = "10.1016/j.ijpe.2007.02.045",

language = "English (US)",

volume = "113",

pages = "3--22",

journal = "International Journal of Production Economics",

issn = "0925-5273",

publisher = "Elsevier",

number = "1",

}

TY - JOUR

T1 - The financial impact of standard stringency

T2 - An event study of successive generations of the ISO 9000 standard

AU - McGuire, Stephen J.

AU - Dilts, David M.

PY - 2008/5

Y1 - 2008/5

N2 - While ISO 9000 has been shown to improve internal metrics of firm performance, external measurements may be unaffected. This paper examines the economic value of successive generations of the ISO 9000 standard by assessing the equity returns of 204 firms certified between 1999 and 2002. This study also examines the economic effects of ISO 9001:2000 versus the superseded 1994 standards. The complete sample experienced no significant changes in stock price. The market reaction to ISO 9001:2000 certification is significantly more positive than the reaction to ISO 9000:1994 registration.

AB - While ISO 9000 has been shown to improve internal metrics of firm performance, external measurements may be unaffected. This paper examines the economic value of successive generations of the ISO 9000 standard by assessing the equity returns of 204 firms certified between 1999 and 2002. This study also examines the economic effects of ISO 9001:2000 versus the superseded 1994 standards. The complete sample experienced no significant changes in stock price. The market reaction to ISO 9001:2000 certification is significantly more positive than the reaction to ISO 9000:1994 registration.

KW - Event study

KW - ISO 9000

KW - Quality

KW - Standard stringency

UR - http://www.scopus.com/inward/record.url?scp=41549115413&partnerID=8YFLogxK

UR - http://www.scopus.com/inward/citedby.url?scp=41549115413&partnerID=8YFLogxK

U2 - 10.1016/j.ijpe.2007.02.045

DO - 10.1016/j.ijpe.2007.02.045

M3 - Article

AN - SCOPUS:41549115413

SN - 0925-5273

VL - 113

SP - 3

EP - 22

JO - International Journal of Production Economics

JF - International Journal of Production Economics

IS - 1

ER -

The financial impact of standard stringency: An event study of successive generations of the ISO 9000 standard

Abstract

Keywords

ASJC Scopus subject areas

Access to Document

Other files and links

Fingerprint

Cite this