The impact of environmental management awards and certifications in property management on property price

Facilities ◽  
2016 ◽  
Vol 34 (5/6) ◽  
pp. 314-338 ◽  
Author(s):  
Eddie Chi-man Hui ◽  
Ka-hung Yu ◽  
Cheuk-kin Tse
Keyword(s):  
Environmental Management ◽  
Hong Kong ◽  
Environmental Management System ◽  
End Users ◽  
Iso 14001 ◽  
Property Management ◽  
Hedonic Price ◽  
Content Type ◽  
Property Price ◽  
The Impact

Purpose As the awareness of environmental preservation and of sustainable development have become increasingly pronounced among various stakeholders, such as governments and communities, many businesses, in response, commence to introduce environmental-friendly measures and/or implement an environmental management system (EMS) in their daily operations. Even a service-oriented industry such as property management is no exception. To showcase their commitment to this cause, property management companies tend to obtain different environmental certifications. This study aims to investigate the effect of green property management, through environmental certifications, on property price. Design/methodology/approach The hedonic price model is used to determine the impacts of different environmental certifications on prices of selected residential properties in Hong Kong. Three districts from different parts of Hong Kong, including 16 private residential developments, are covered in this study. Findings The results show that ISO 14001 certification itself is not statistically significant in explaining property price. It is only when a property management company has obtained other local environmental management awards/certificates that varying levels of (positive) property price premiums are found. Nonetheless, the authors also find that controlling for other housing attributes, obtaining as many environmental certifications as possible does not necessarily result in the highest property price premium. Research limitations/implications Nonetheless, the data sample has its limitations, such as its relatively small size and the unavailability of housing attribute(s) such as orientations. Practical implications For the implications, the value of environmental management awards/certificates, from the perspective of the end-users of property management services, is based on the scopes of these environmental certifications; the promotional effort on the part of organizations behind these awards/certificates; the disclosure of information about the EMS itself and the assessment criteria; and the public’s perceptions as to the companies’ rationale behind such certifications. Originality/value The study has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users of the service (i.e. homeowners and potential homebuyers). This serves as a reference for developers, property managers, buyers and users alike.

The effect of ISO14001 certification in property management on property price

2014 ◽  
Vol 12 (2) ◽  
pp. 97-117 ◽  
Author(s):  
Eddie Chi-man Hui ◽  
Cheuk-kin Tse ◽  
Ka-hung Yu
Keyword(s):  
Hong Kong ◽  
Public Relations ◽  
Housing Price ◽  
Environmental Management System ◽  
Property Management ◽  
Hedonic Price ◽  
Content Type ◽  
Property Price ◽  
The Impact ◽  
A Company

Purpose – As environmental awareness has become increasingly pronounced among various stakeholders such as governments and communities, many businesses start to adopt a more environmental-friendly approach in their operations. Even a service-oriented industry such as property management is no exception. One way to showcase a company's commitment to this cause is to become ISO14001-certified, under which it is required to implement an environmental management system. In light of this, this paper aims to investigate the impact of this certification in property management, along with two other well-known management certifications/awards in ISO9001 and Hong Kong Management Association Quality Award (HKMAQA), on property price. Design/methodology/approach – The hedonic price model was used to determine whether or not there is a relationship between ISO14001 certification (as well as ISO9001 and HKMAQA) and property price, and if so, its impact. Three districts from different parts of Hong Kong, including 17 private residential developments, were covered in this research. Findings – The results show that a flat managed by a company with ISO9001 certification is 8.87 percent higher than another flat managed by a non-ISO9001-certified property management companies (PMC); the adoption of ISO14001 certification appears to help generate a premium of about 3.65 percent in property price for a PMC which has already been ISO9001-certified; and for a company already with both ISO9001/14001 certifications, the obtaining of HKMAQA brings about an extra 15.37 percent in housing price. It can be said that the impact of ISO14001 certification on property value is smaller than that of the other two management standards. Research limitations/implications – The findings do not necessarily suggest that the adoption of ISO14001 (or HKMAMA) generates the exact same premium to a residential property by itself, as two or more components in tandem may create more value than the sum of the parts. Nonetheless, considering that most companies have already been ISO9001-certified prior to considering an ISO14001 certification, they, as separate variables, are inevitably highly correlated which could be an issue when using methods such as hedonic models. This renders the assessment of the impact on property price solely attributed to ISO14001 rather problematic if they are studied together. Practical implications – In the short run, ISO14001 certification, as a public relations tool, might actually help flats within these developments to gain an advantage over the competitors within the district, or at least offset the adverse impact of some of its intrinsic defects in order to stay competitive (for instance, the age issue and the smaller brand name effect due to the development's lack of scope), but not in the long run. Originality/value – The paper has provided some insights regarding the effect of various management standard certifications in property management, from the perspective of the end-users (i.e. homebuyers), rather than from that of those involved in the operations as seen in previous studies. This serves as a reference for developers, property managers, buyers, and users alike.

The impact of national culture on the adoption of environmental management standards

2019 ◽  
Vol 26 (4) ◽  
pp. 546-566
Author(s):  
Raquel Orcos ◽  
Sergio Palomas
Keyword(s):  
Environmental Management ◽  
National Culture ◽  
Cultural Dimensions ◽  
Iso 14001 ◽  
Content Type ◽  
Performance Orientation ◽  
Management Standards ◽  
The World ◽  
The Impact ◽  
Over Time

Purpose The purpose of this paper is to explore how national cultures contribute to explain the uneven diffusion of ISO 14001 across countries. The paper focuses on two of the cultural dimensions developed by the global leadership and organizational behavior effectiveness (GLOBE) project, namely, performance orientation and institutional collectivism. Design/methodology/approach A database containing information about the diffusion of ISO 14001 in 52 countries during the period 1999–2016 was built to carry out this research. The countries considered in this study represent about 90 percent of worldwide ISO 14001 certifications. The information was gathered from publicly available data sources: the ISO Survey, published every year by the International Organization for Standardization, the world development indicators of the World Bank, the cultural dimensions of the GLOBE project and the Index of Economic Freedom provided by The Heritage Foundation. Findings This research finds that both performance orientation and institutional collectivism influence the diffusion of ISO 14001. Whereas performance orientation slows down the diffusion of ISO 14001, institutional collectivism speeds it up. Additionally, this research shows that the slowing effect of performance orientation decreases in strength over time, while the accelerating effect of institutional collectivism becomes stronger. Originality/value The study adds to the understanding of the influence of national culture on the diffusion of environmental management standards, with an emphasis on ISO 14001. A key contribution of this research is that it explores how the influence of cultural dimensions change over time as a result of the development and maturation of ISO 14001.

scholarly journals The ISO 14001 environmental management system, a lever for performance and competitiveness of the Moroccan industrial company

2021 ◽  
Vol 240 ◽  
pp. 02007
Author(s):  
Sarra Gazoulit ◽  
Khadija Oubal
Keyword(s):  
Environmental Management ◽  
Management System ◽  
Environmental Management System ◽  
International Standards ◽  
Iso 14001 ◽  
Management Tool ◽  
Industrial Companies ◽  
Set Up ◽  
The Impact ◽  
Industrial Company

For some years now, Moroccan industrial companies have begun to integrate the environment into their management and to set up an environmental management system, in compliance with international standards, in order to meet the requirements of stakeholders. The fact remains that this management tool has enabled companies to control the impact of their activity on the environment by promoting manufacturing excellence. On a sample of twenty-two large industrial companies with a response rate of 55%, we conducted a quantitative and qualitative study, which allowed us to show the importance of EMS iso 14001 on the performance and competitiveness of the Moroccan industrial company.

scholarly journals Adoption of Environmental Management Systems by Farmers: An Empirical Application to ISO 14001

2007 ◽  
Vol 39 (3) ◽  
pp. 523-540 ◽  
Author(s):  
Gilles Grolleau ◽  
Alban Thomas
Keyword(s):  
Environmental Management ◽  
Prior Knowledge ◽  
Knowledge Score ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Environmental Management Systems ◽  
Parameter Estimates ◽  
Information Measures ◽  
Voluntary Adoption ◽  
The Impact

This article undertakes an empirical investigation of the determinants of voluntary adoption of the ISO 14001 environmental management system by French farmers. The adoption model incorporates the expected profitability of implementing the standard and investigates the impact of prior knowledge on the probability of adopting. Two information measures are considered: a “reported information” indicator and an “estimated knowledge” score. The probit parameter estimates reveal that, while the expected profitability of implementing the standard is a significant determinant of adoption, real and perceived prior knowledge measures play a significant but potentially counterintuitive role.

Reflections of environmental management implementation in furniture

2016 ◽  
Vol 44 (8) ◽  
pp. 840-859 ◽  
Author(s):  
Ambika Zutshi ◽  
Andrew Creed ◽  
Mary Holmes ◽  
Jade Brain
Keyword(s):  
Environmental Management ◽  
Environmental Sustainability ◽  
Environmental Management System ◽  
International Standards ◽  
Market Demand ◽  
Content Type ◽  
Environmental Initiatives ◽  
Global Industry ◽  
Depth Analysis ◽  
The Impact

Purpose The purpose of this paper is to present an overview of environmental management initiatives in the furniture retail area. The specific aim is to present reflections of participants implementing environmental initiatives in an Australian furniture retailer, Living Edge, in alignment with a secondary snapshot of environmental initiatives from other furniture retailers. Design/methodology/approach Primary reflections from the retailer’s manager and external consultant, both involved in the implementation of environmental initiatives, are enriched with secondary review of environmental management system trends and examples from regions active in the designer furniture sector, including Europe, Southeast Asia and North America. Findings An integrated view has been distilled around environmental impact in the furniture supply chain and consumer pressure to minimise the impact. Stakeholders require furniture retailers to improve efficiency and profitability amid the countervailing market demand for environmental sustainability. Retailers may seek competitive advantage through effectively applied and communicated environmental management. The voluntary adoption of systems, international standards and innovative practices that conserve natural resources are amongst the key to success. A live case example of Australian experience is added to the knowledge base for the global retail furniture industry. Research limitations/implications One Australian retailer is exemplified to highlight the lived experiences of implementing environmental initiatives. The secondary global review presents a cross-section rather than an in-depth analysis of furniture sector retailers. Originality/value There are limited Australian perspectives of designer furniture and its intersection with environmental issues, thus, the paper addresses this gap in the literature and adds to informed practice in a global industry.

scholarly journals Requirements of the ISO 14001 environmental management standard and the expected effects of its implementation in transport undertakings

2019 ◽  
Vol 24 (6) ◽  
pp. 71-74
Author(s):  
Natalia Jagodzińska
Keyword(s):  
Environmental Management ◽  
Environmental Protection ◽  
Natural Environment ◽  
Management System ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Management Systems ◽  
Transport Services ◽  
Transport Industry ◽  
The Impact

The environmental management system according to PN-EN ISO 14001: 2015 [1] is a system whose message is to protect the natural environment. The environmental management system focuses mainly on reducing waste, possibilities and methods of waste disposal, pre-venting pollution, reducing the use of natural resources, and in the context of the transport industry, reducing emissions. The idea of the system is continuous improvement of activities related to the protection of the natural environment - through identification of threats, risk assessment and mobilization of enterprises to comply with the requirements of law in the field of environmental protection. For many years, the transport industry has been governed by its laws. However, with the changing market, where apart from large transport concerns, there are also small and micro companies providing transport services that also have an impact on the environment in individual parts of the transport industry. There are more and more entrepreneurs, both Polish and foreign, specializing in the transport industry, hence legal regulations, EU regulations and industry standards or standards aimed at reducing the impact of transport on the natural environment appear. It seems that as of today, mobilizing enterprises of various sizes to implement unified rules, reduce emissions, oversee waste, implement unified management systems, including environmental management systems, is the most effective method of impacting the improvement of environmental protection in this area.

scholarly journals The implementation of an environmental management system in the not-for-profit sector

2014 ◽  
Vol 21 (4) ◽  
pp. 509-526 ◽  
Author(s):  
Gareth R.T. White ◽  
Matthew Lomax ◽  
Glenn Parry
Keyword(s):  
Environmental Management ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Participatory Action ◽  
Content Type ◽  
Non Profit ◽  
For Profit ◽  
Not For Profit ◽  
New Business ◽  
The Uk

Purpose – This paper aims to examine the implementation of the Eco-Management and Audit Scheme (EMAS) in a non-profit, small-to-medium sized-enterprise (SME) in the UK. Design/methodology/approach – A four-year participatory action research study is made upon knowledge transfer partnerships between the University of the West of England and the Royal Bath and West Society. Findings – Through the adoption of EMAS, the organisation was able to identify operational improvements as well as make significant efforts to improve its environmental performance, reducing its carbon footprint by 30 tCO2e per annum and gaining new business. Research limitations/implications – The study is made upon a single not-for-profit organisation in the UK. Practical implications – It presents the costs, benefits and challenges that the organisation faced. Techniques that were used to successfully manage the environmental management systems (EMS) development are also discussed. The investigation identifies deficiencies in the materials that are provided to support companies that are seeking EMAS certification. To improve the uptake of these EMS and assist companies in their successful pursuit of ISO 14001 and EMAS, this supporting documentation requires enhancement. Originality/value – There has been relatively little empirical research around the development and benefits of organisational EMS. Even less has focussed upon the specific constraints and opportunities that face non-profit organisations when implementing EMAS. This paper addresses this gap, identifying its costs and tangible benefits.

EMS AS A MAINSTREAM BUSINESS TOOL: PERSPECTIVES FROM HONG KONG

1999 ◽  
Vol 01 (02) ◽  
pp. 159-175 ◽  
Author(s):  
ANNE M. COPELAND ◽  
SOPHIE LE CLUE
Keyword(s):  
Environmental Management ◽  
Hong Kong ◽  
Environmental Performance ◽  
Policy Instruments ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Asia Pacific ◽  
Asia Pacific Region ◽  
International Policy ◽  
Challenges And Opportunities

The proliferation of global trade and commerce provides both challenges and opportunities for addressing transboundary pollution and furthering global sustainability. In addition to international policy instruments and legislation, standardised approaches to environmental management can improve environmental performance and reduce the escalating levels of pollution that are being experienced worldwide, and particularly in the Asia-Pacific region. In Hong Kong, 35 organisations have been certified to the ISO 14001 international environmental management system (EMS) standard, joining over 5000 more worldwide. While this trend is encouraging, Hong Kong's experience demonstrates that significant barriers exist for EMS to become a mainstream tool for small- and medium-sized enterprises (SMEs). As is it unlikely that certification will become mandatory at the international level, additional effort is therefore required to overcome these barriers, such as raising the awareness of all stakeholders to the benefits of the EMS and facilitating access to the necessary financial and technological assistance.

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