Impact of ISO 14 001, ISO 9 001 and ISO 45 001 on economic performance and competitive potential of European companies
Marie Pavláková Dočekalová, Adam P. Balcerzak, Jiří Luňáček, Karel Doubravský, Tomáš Meluzín, Justyna Łapińska
Keywords:
corporate economic performance; ISO certification; ISO 14 001; ISO 9 001; ISO
45 001; European listed companies
Abstract:
In this paper, we investigate the impact of voluntary standards and approaches in environmental
management (ISO 14 000 or EMS), quality management (ISO 9000) and occupational health
and safety management (OHSAS 45001) on economic performance of European companies.
From the perspective of business practices, implementation of these standards is currently
considered as one of the basic tools for building competitive potential of companies. We used
a sample of 442 European listed companies for the period 2017-2021. The key analytical tools
utilized to identify and model the relationships between management system certifications and
economic variables were multivariate regression analysis and logistic regression. The study has
found no significant direct impact of ISO certifications on economic performance. The expected
benefits of these certifications are context-dependent and are influenced by existing regulatory
frameworks and market maturity. The study suggests insignificant effects of these certifications
in mature, highly regulated markets. Another finding is that firms with lower economic
performance are more likely to adopt management system certifications, supporting the
hypothesis that firms with lower productivity seek certification to achieve efficiency gains and
build basic competitive advantages. The findings are set in the context of a strict regulatory
environment in Europe, where existing regulation may mitigate other benefits of certifications.
The study also considers the potential saturation of certifications in developed economies,
which could reduce their competitive advantage. The analysis includes a time series covering
the pre-pandemic and pandemic periods and finds no significant benefits of these certifications
for economic resilience during COVID-19.
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 Impact of ISO 14 001, ISO 9 001 and ISO 45 001 on economic performance and competitive potential of European companies [PDF file] [Filesize: 892.25 KB]
 10.7441/joc.2024.04.11
Pavláková Dočekalová, M., Balcerzak, A.P., Luňáček, J., Doubravský, K., Meluzín, T., & Łapińska, J. (2024). Impact of ISO 14 001, ISO 9 001 and ISO 45 001 on economic performance and competitive potential of European companies. Journal of Competitiveness, 16(4), 219-241. https://doi.org/10.7441/joc.2024.04.11
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