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Market Interpretation of ISO 9000 Registration

Author

Listed:
  • Docking, Diane Scott
  • Dowen, Richard J

Abstract

Since 1990, many U.S. firms have registered under the provisions of the ISO 9000 standard. Meeting the demanding qualifications of this registration requires the expenditure of considerable time and money. To this point, the justification offered has been put in terms of management commitment to quality, cost reduction, or opening new markets, particularly international markets. We contribute by examining the reaction of the firms' stock price to the announcement of ISO 9000 registration. We find that for the smallest firms, ISO 9000 registration is regarded as positive information by investors. We also find that the market reaction to ISO 9000 registration is sensitive to the signing of the Maastricht

Suggested Citation

  • Docking, Diane Scott & Dowen, Richard J, 1999. "Market Interpretation of ISO 9000 Registration," Journal of Financial Research, Southern Finance Association;Southwestern Finance Association, vol. 22(2), pages 147-160, Summer.
  • Handle: RePEc:bla:jfnres:v:22:y:1999:i:2:p:147-60
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    Citations

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    Cited by:

    1. Carlos Cândido & Luis M.S. Coelho & Ruben Peixinho, 2016. "The Financial Impact of a Withdrawn ISO 9001 Certificate," CEFAGE-UE Working Papers 2016_01, University of Evora, CEFAGE-UE (Portugal).
    2. Charles J. Corbett & María J. Montes-Sancho & David A. Kirsch, 2005. "The Financial Impact of ISO 9000 Certification in the United States: An Empirical Analysis," Management Science, INFORMS, vol. 51(7), pages 1046-1059, July.
    3. David I. Levine & Michael W. Toffel, 2010. "Quality Management and Job Quality: How the ISO 9001 Standard for Quality Management Systems Affects Employees and Employers," Management Science, INFORMS, vol. 56(6), pages 978-996, June.
    4. Gilles Grolleau & Naoufel Mzoughi & Sanja Pekovic, 2013. "Is Business Performance Related to the Adoption of Quality and Environmental-Related Standards?," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 54(4), pages 525-548, April.
    5. repec:eee:proeco:v:196:y:2018:i:c:p:248-260 is not listed on IDEAS
    6. Martinez-Costa, Micaela & Martinez-Lorente, Angel R. & Choi, Thomas Y., 2008. "Simultaneous consideration of TQM and ISO 9000 on performance and motivation: An empirical study of Spanish companies," International Journal of Production Economics, Elsevier, vol. 113(1), pages 23-39, May.
    7. McGuire, Stephen J. & Dilts, David M., 2008. "The financial impact of standard stringency: An event study of successive generations of the ISO 9000 standard," International Journal of Production Economics, Elsevier, vol. 113(1), pages 3-22, May.
    8. Michal Grajek, 2004. "Diffusion of ISO 9000 Standards and International Trade," CIG Working Papers SP II 2004-16, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    9. Dowlatshahi, Shad & Urias, Cristina, 2004. "An empirical study of ISO certification in the maquiladora industry," International Journal of Production Economics, Elsevier, vol. 88(3), pages 291-306, April.
    10. Christian Volpe Martincus & Sebastián Castresana & Tomás Castagnino, 2010. "ISO Standards: A Certificate to Expand Exports? Firm-Level Evidence from Argentina," Review of International Economics, Wiley Blackwell, vol. 18(5), pages 896-912, November.
    11. Benezech, Daniele & Lambert, Gilles & Lanoux, Blandine & Lerch, Christophe & Loos-Baroin, Jocelyne, 2001. "Completion of knowledge codification: an illustration through the ISO 9000 standards implementation process," Research Policy, Elsevier, vol. 30(9), pages 1395-1407, December.

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