The impact of ISO 9000 certification on firms’ financial performance

2015 ◽  
Vol 35 (1) ◽  
pp. 145-174 ◽  
Author(s):  
Prodromos Chatzoglou ◽  
Dimitrios Chatzoudes ◽  
Nikolaos Kipraios
Keyword(s):  
Financial Performance ◽  
Conceptual Framework ◽  
Iso 9000 ◽  
Developed Countries ◽  
Self Report ◽  
Primary Data ◽  
Successful Implementation ◽  
Content Type ◽  
The Impact ◽  
Practical Implications

Purpose – The purpose of this paper is to explore the relationship between the acquisition of an ISO 9000 certification and the overall financial performance of the certified firms. More specifically, the study proposes a multidimensional conceptual framework, including “customers’ demand”, “ISO adoption”, “operation efficiency”, “market efficiency” and “overall financial performance”. Such a multidimensional approach has randomly been explored in the existing literature, making the examination of the proposed conceptual framework an interesting research topic. Design/methodology/approach – The proposed conceptual framework was tested on a sample of Greek ISO 9000-certified companies of various economic sectors. Quality managers were used as key respondents. The final sample consisted of 168 companies. The reliability and the validity of the questionnaire were thoroughly examined. Empirical data were analyzed using the structural equation modelling technique. The findings are based on the 2000 version of the ISO series, which is generally accepted and has widespread use, as it has eliminated most of the disadvantages of the 1994 version. The present study is empirical (it is based on primary data), explanatory (examines cause and effect relationships), deductive (tests research hypotheses) and quantitative (includes the analysis of quantitative data collected with the use of a structured questionnaire). Findings – The findings of the study provide strong evidence that ISO 9000 implementation is highly associated with improvements in overall financial performance. Moreover, it was found that ISO implementation is directly associated with significant improvements in quality awareness, operations execution, market share, customer satisfaction and sales revenue. Finally, customers’ demand was not found to be the most important motivation for implementing an ISO certification. Rather, it seems that companies seek for quality improvement due to internal motives. Research limitations/implications – A limitation stemming from the implemented methodology is the use of self-report scales to measure the constructs of the proposed model. Moreover, the present paper lacks a longitudinal approach, since it is cross-sectional and provides a static picture of ISO implementation. Practical implications – The paper makes an analytical effort in order to point out areas that companies should emphasize in order to successfully implement ISO 9000 and, therefore, harvest its potential benefits. Certain practical implications are offered in the final part of the paper. Originality/value – The paper proposes an enhanced conceptual framework that examines vital issues concerning the successful implementation of ISO 9000, thus, providing valuable outcomes for decision makers and academics. Moreover, the results of the study may be generalized in other developed countries whose economy faces similar significant challenges as Greece.

The central role of knowledge management in business operations

2015 ◽  
Vol 21 (5) ◽  
pp. 1117-1139 ◽  
Author(s):  
Dimitrios Chatzoudes ◽  
Prodromos Chatzoglou ◽  
Eftichia Vraimaki
Keyword(s):  
Job Satisfaction ◽  
Knowledge Management ◽  
Conceptual Framework ◽  
Self Report ◽  
Successful Implementation ◽  
Management Process ◽  
Content Type ◽  
Organisational Climate ◽  
Innovative Culture ◽  
The Impact

Purpose – Knowledge Management (KM) is a contemporary research field of high interest for both academics and practitioners. For more than 15 years, successful companies have used KM as their most valuable source of competitive advantage. The purpose of this paper is attempt to extend the existing empirical approaches (research models), by focusing on the process of KM and its diffusion throughout the organisation. Design/methodology/approach – The present study proposes a newly developed conceptual framework that adopts a four-step approach, highlighting four areas of interest that have never been simultaneously examined before: knowledge antecedents, KM process, KM outcomes (satisfaction from the KM process) and individual (employee) outcomes. The proposed conceptual framework is tested, using a structured questionnaire, in a sample of 211 bank employees. The reliability and the validity of the questionnaire were thoroughly examined, while research hypotheses were tested using the “Structural Equation Modelling” technique. Findings – The results revealed that companies with enhanced innovative culture and an organisational climate that facilitates cooperation between employees tend to promote and ultimately maximise knowledge diffusion. Moreover, a contribution of the present study is the empirical confirmation of the relationship between the proposed factor “satisfaction from the knowledge management process” and both organisational commitment and job satisfaction. Research limitations/implications – A limitation stemming from the adopted methodology is the use of self-report scales to measure the factors (constructs) of the proposed model. Moreover, the present paper lacks a longitudinal approach, since it provides a static picture (snapshot) of the application of KM within enterprises. Practical implications – The paper highlights-specific areas (factors) that companies should enhance in order to harvest the potential benefits of KM. According to the empirical findings, organisations should focus on their human capital when managing their knowledge processes. After all, employee satisfaction from the KM process is found to be crucial for enhancing their job satisfaction and job performance. Originality/value – The paper proposes an enhanced conceptual framework that incorporates critical issues concerning the successful implementation of KM, thus, providing valuable tools for decision makers and academics. Its originality lies in the nature of its approach. More specifically, the present study examines the impact of KM on individual-level (employee), something that rarely appears in the relevant literature. Additionally, it incorporates “satisfaction from the knowledge management process” as a significant outcome of the KM process, thus, enriching the literature of the field. Finally, it investigates the impact of three contextual factors (innovative culture, organisational climate, inter-functional coordination) on KM process (externalisation, internalisation, socialisation, combination), adopting an approach that acknowledges KM as a function (factor) that transmits contextual influence onto individual effectiveness. The results of the study may be generalised in other sectors with similar characteristics (knowledge-intensive and learning organisations, service sector companies, etc) and in other developed countries whose financial institutions face similar challenges as the ones in Greece.

The role of innovation in building competitive advantages: an empirical investigation

2018 ◽  
Vol 21 (1) ◽  
pp. 44-69 ◽  
Author(s):  
Prodromos Chatzoglou ◽  
Dimitrios Chatzoudes
Keyword(s):  
Competitive Advantage ◽  
Conceptual Framework ◽  
Empirical Investigation ◽  
Primary Data ◽  
Empirical Literature ◽  
Competitive Advantages ◽  
Manufacturing Companies ◽  
Content Type ◽  
The Impact ◽  
Structured Questionnaire

Purpose Nowadays, innovation appears as one of the main driving forces of organisational success. Despite the above fact, its impact on the propensity of an organisation to develop and sustain a competitive advantage has not yet received sufficient empirical investigation. The purpose of this paper is to enhance the existing empirical literature by focusing on the antecedents of innovation and its impact on competitive advantage. It proposes a newly developed conceptual framework that adopts a three-step approach, highlighting areas that have rarely been simultaneously examined before. Design/methodology/approach The examination of the proposed conceptual framework was performed with the use of a newly developed structured questionnaire that was distributed to a group of Greek manufacturing companies. The questionnaire has been successfully completed by chief executive officers (CEOs) from 189 different companies. CEOs were used as key respondents due to their knowledge and experience. The reliability and the validity of the questionnaire were thoroughly examined. Empirical data were analysed using the structural equation modelling technique. The study is empirical (based on primary data), explanatory (examines cause and effect relationships), deductive (tests research hypotheses) and quantitative (includes the analysis of quantitative data collected with the use of a structured questionnaire). Findings Results indicate that knowledge management, intellectual capital, organisational capabilities and organisational culture have significant direct and indirect effects on innovation, underlining the importance of their simultaneous enhancement. Finally, the positive effect of innovation on the creation of competitive advantages is empirically validated, bridging the gap in the relevant literature and offering avenues for additional future research. Originality/value The causal relationship between innovation and competitive advantage, despite its significant theoretical support, has not been empirically validated. The present paper aspires to bridge this gap, investigating the impact of innovation on the development of competitive advantages. Moreover, the present study adopts a multidimensional approach that has never been explored in the existing innovation literature, making the examination of the proposed conceptual framework an interesting research topic.

An alternative model of self-service retail technology adoption

2015 ◽  
Vol 29 (5) ◽  
pp. 406-420 ◽  
Author(s):  
Arun Kumar Kaushik ◽  
Zillur Rahman
Keyword(s):  
Technology Acceptance ◽  
Primary Data ◽  
Future Research ◽  
Consumer Adoption ◽  
Content Type ◽  
Intention To Adopt ◽  
Self Service ◽  
Acceptance Model ◽  
The Impact ◽  
Practical Implications

Purpose – This study aims to extend and revise the basic technology acceptance model (TAM) by analyzing the impact of trust and subjective norm (SN) on consumers’ attitude and behavioral intention toward adopting self-service technologies (SSTs) in offline retail environments. Design/methodology/approach – Primary data were collected through field and online surveys, resulting in 651 usable responses. Hypotheses involving all variables of extended TAM, and their mutual relationships, are examined in this study of offline consumer adoption behavior. Findings – The findings reveal that trust significantly affects both consumers’ attitudes and their behavioral intentions, while SN also affects intention to adopt. It is recommended that future researchers use a more comprehensive version of TAM and consider trust and SN when analyzing offline consumer adoption behavior. Research limitations/implications – All the SSTs included in this paper belong to the retail industry, which limit the generalizability of the findings to other industries. Many other limitations are also discussed. Practical implications – The practicality of our findings guides managers and designers of technological interfaces. Furthermore, the practical implications are discussed and directions for future research are also provided. Social implications – This study recommends the usage of numerous SSTs in organized retail stores. The society will also benefit from the effective implementation of such SSTs. Originality/value – Trust and SNs have been incorporated as two additional variables to analyze offline adoption behavior of retail customers. This has not been done before, as most studies have focused on adoption behavior of customers in online environments.

Rising standards of sustainability reporting in India

2018 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Puneeta Goel
Keyword(s):  
Social Responsibility ◽  
Financial Performance ◽  
Sustainability Reporting ◽  
Successful Implementation ◽  
Content Type ◽  
Reporting Practices ◽  
Significant Difference ◽  
Reform Period ◽  
The Impact ◽  
Sustainability Report

Purpose The increasing awareness among the stakeholders demands the companies to be more transparent in their annual reporting. In the absence of standardized reporting norms, companies are free to structure sustainability report as per their understanding, willingness and intent. Although some voluntary guidelines have been issued by the regulatory authorities in India, the norms are still not clear as to what to report and how to report. This paper aims to look in to sustainability reporting practices by top companies listed in Bombay stock exchange and its impact on financial performance. Design/methodology/approach Using this sample of 68 companies from top 100 in the list of ET500 for 2016, self-constructed sustainability reporting score has been computed for each company for the financial year 2012-2013 and 2015-2016. The two periods represent pre- and post-disclosure reform periods in India. A sustainability reporting scale has been constructed using 16 parameters of sustainable performance based on social, environment and governance aspects as reported in the annual report, sustainability report and business responsibility report. Findings It has been found that there is a significant improvement in sustainability reporting by Indian companies after the introduction of disclosure reforms. Different sectors show significant difference in the sustainability reporting during pre-reform period but as the sustainability reporting improves after the reforms, sector difference reduces. Sustainability reporting is a significant predictor of financial parameters of return on sales, return on equity and Tobin’s Q in pre-reform period, but in the post-reform period, no significant impact was found on financial performance. Practical implications Disclosure reforms have made a significant impact on sustainability reporting by Indian companies. Companies need to identify the core areas of social responsibility, to implement Indian model of mandatory 2 per cent spending on corporate social responsibility. Disclosure of carbon foot prints should be mandatory and more number of independent directors should be appointed for successful implementation of these reforms. Market regulators should be made more powerful and given a free hand to prosecute the companies involved in frauds and high penalties should be imposed for non-compliance. Originality/value Sustainability reporting has drawn increased strategic attention in India to make reporting more transparent and responsible toward society and environment. The structural changes and introduction of disclosure reforms make an interesting case to investigate their implications on Indian companies. Accordingly, this research studies the sustainability reporting by Indian companies before and after the introduction of disclosure reforms. No previous research has investigated the impact of these reforms considering two different periods.

Does the country’s religion affect the financial performance of conventional and Islamic banks? Comparative study in the international framework

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Achraf Haddad ◽  
Achraf Haddad
Keyword(s):  
Financial Performance ◽  
Generalized Method Of Moments ◽  
Developed Countries ◽  
Emerging Countries ◽  
Islamic Banks ◽  
Governance Mechanism ◽  
Content Type ◽  
Conventional Banks ◽  
The Impact ◽  
Conventional And Islamic Banks

Purpose The purpose of this study is to compare the impact of religion on the financial performance of conventional and Islamic banks in the framework of stakeholders’ theory. Design/methodology/approach Few studies have focused on studying the impact of religion on banking performance. Although religion represents an external governance mechanism for financial institutions, by using the generalized method of moments (GMM), this topic constitutes a research opportunity. The already modeled variables are collected from 76 countries located on 5 continents. The data were collected from DATASTREAM, banks’ annual reports, WIKIPEDIA and World Bank. It concerns 210 banks of each type during the period (2010–2020). Findings The author retained that religion negatively affects the financial performance of both conventional and Islamic banks. More specifically, results showed that religion affected the liquidity and solvency of two bank types. It also affected conventional banks’ profitability and efficiency of conventional banks. Research limitations/implications I summarized the theoretical contribution in the integration of a new original governance category to enhance its presence with impacts directly affecting the banks’ financial performance. Empirically, the study can be seen as a compass for all stakeholders to consider environmental, behavioral and doctrinal factors in studying the financial performance evolution and to become more competitive in the banking market. Originality/value Although conventional banks located in developed countries are different from those existing in emerging countries and Islamic banks located in developed countries are different from those existing in emerging countries, I carried out a diversified study in the global context. Referring to the comparative literature review between conventional and Islamic banks, the study was the first conditional research that compared the impacts of religion on the financial performance of conventional and Islamic banks.

The impact of energy consumption and merchandise exports on CO2 emission in the United Nations geoscheme regions

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Chamil W. Senarathne ◽  
Prabhath Jayasinghe
Keyword(s):  
Energy Consumption ◽  
Environmental Policy ◽  
United Nations ◽  
Developed Countries ◽  
Data Sampling ◽  
Porter Hypothesis ◽  
Content Type ◽  
Long Run ◽  
The Impact ◽  
Practical Implications

Purpose While sustainable development policies are mostly set based on United Nations (UN) geoscheme classification, no study attempts to examine the impact of influential economic variables such as energy consumption (EC) and merchandise exports (ME) on carbon dioxide (CO2) emission in the UN geoscheme regions. The purpose of this paper is to examine the possible impact of EC and ME on CO2 emission in UN geoscheme classification regions such as Africa, America, Arab, Asia and Europe. Design/methodology/approach This paper uses autoregressive distributed lag (ARDL), Pedroni panel cointegration and panel Granger causality methodologies covering an annual panel data sampling period from 1971 to 2014. Findings The results show that there is bidirectional causality between all three variables in the European and American panel except for the non-causality from CO2 to EC in the American panel. These findings suggest possible consequences of weaker energy efficiency (even under environmental policy tightening) and strong demand for energy-intensive economic activities in those regions. Developed countries with higher environmental policy tightening (America and Europe) show significant estimates from the chosen tests supporting the Porter hypothesis. EC and ME have a long-run impact on CO2 emission in American and European panels. The African region has the least environmental impact of pollution from ME. Practical implications The ME and EC have a direct significant impact on CO2 emission in America and Europe. As these causalities, co-integrations and their impacts share a long-run equilibrium relationship, policymakers must design long-term industry policies such as cleaner production techniques focusing on environmentally sustainable practices. Also, it is suggested that the policymakers must ensure that they implement more robust policies and standards for environmental-friendly export production. Originality/value This is the first paper that examines the impact of EC and ME on CO2 emission in UN geoscheme regions. The findings of this paper provide theoretical implications supporting Porter hypothesis and practical implications for policymaking.

scholarly journals Linking exploration to academic performance

2017 ◽  
Vol 38 (8/9) ◽  
pp. 404-414 ◽  
Author(s):  
Panagiotis Gkorezis ◽  
Petros Kostagiolas ◽  
Dimitris Niakas
Keyword(s):  
Academic Performance ◽  
Information Seeking ◽  
Self Efficacy ◽  
Positive Association ◽  
Healthcare Management ◽  
Self Report ◽  
Content Type ◽  
The Impact ◽  
Academic Self Efficacy ◽  
Practical Implications

Purpose Substantial empirical research has addressed the antecedents of students’ academic performance. Building on these insights, the purpose of this paper is to extend the related literature by investigating the impact of students’ exploration on their academic performance. Furthermore, to provide a better understanding of this relationship the authors incorporate two sequential mediators, namely, information seeking and academic self-efficacy. Design/methodology/approach Quantitative approach using self-report questionnaires. This study was conducted in the Hellenic Open University through a specially designed questionnaire. The authors collected data from 248 students attending a postgraduate course in Healthcare Management. Findings The results showed that information seeking and in turn academic self-efficacy mediate the positive association between exploration and academic performance. Both theoretical and practical implications are also discussed. Originality/value Students’ exploration plays an important role in enhancing both their information seeking and self-efficacy which in turn affects their academic performance.

Investigating the impact of corporate social responsibility (CSR) policies

2015 ◽  
Vol 57 (4) ◽  
pp. 265-280 ◽  
Author(s):  
Dimitrios Chatzoudes ◽  
Dimitrios Papadopoulos ◽  
Efstathios Dimitriadis
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Conceptual Framework ◽  
Behavioral Intention ◽  
Consumer Perceptions ◽  
Self Report ◽  
Equation Modeling ◽  
Content Type ◽  
Corporate Social ◽  
The Impact

Purpose – The purpose of this paper is to examine the relationship between consumer perceptions about large companies and behavioral intention toward buying products from these companies. It is hypothesized that the better the perceptions, the higher the behavioral intention. Corporate social responsibility (CSR) policies are proposed as the perfect tool to improve consumer perceptions and, hence, increase the customer base of large organizations. Such an approach has randomly been explored in the existing literature, making the examination of the proposed conceptual framework of the study an interesting research topic. Design/methodology/approach – The proposed conceptual framework was tested on a sample of Greek consumers. The final sample consisted of 454 adult consumers. The reliability and the validity of the newly developed questionnaire were thoroughly examined. Empirical data were analyzed using the “Structural Equation Modeling” technique. Findings – The results of the quantitative research highlighted the negative perceptions of Greek consumers toward large companies but, at the same time, revealed the statistically significant positive effect of certain dimensions of consumer perceptions on behavioral intention. In more detail, “interest toward community and employees” and “contribution to economic prosperity” seem to enhance behavioral intention, with the first being the most important factor. Research limitations/implications – A limitation stemming from the implemented methodology is the use of self-report scales to measure the constructs of the proposed model. Moreover, as the measurement of consumer perceptions has never been attempted in the existing literature, the items used to measure this construct were created after an extensive review of theoretical papers, failing to incorporate scales that have been already tested for their reliability. Practical implications – Using the findings of the empirical analysis as guiding lights, the present study proposes certain measures for large organizations. Highly proposed policies are offered in the final part of the paper. These policies are connected with enhancing the perceived interest of the company toward its community and employees. Originality/value – The present paper proposes a conceptual framework that examines CSR under a context that has been randomly examined before. It goes beyond theoretical principles and approaches issues that are vital for large organizations. Moreover, the results of the study may be generalized in other developed countries with similar economic realities (e.g. Spain, Italy, Portugal and Ireland).

scholarly journals Socio-economic impact of COVID-19 on Ghana's economy: challenges and prospects

2021 ◽  
Vol 48 (4) ◽  
pp. 543-556
Author(s):  
David Tanoh Aduhene ◽  
Eric Osei-Assibey
Keyword(s):  
Discourse Analysis ◽  
Economic Impact ◽  
Negative Impact ◽  
Health Sector ◽  
Developed Countries ◽  
Primary Data ◽  
Content Type ◽  
The Past ◽  
Socio Economic Impact ◽  
The Impact

PurposeThe world's economies are on their knees following the negative impact of the coronavirus pandemic over the past 8 months. Growing number of researches has been conducted on the impact of COVID-19 pandemic on developed countries with little attention on developing countries, who are still grappling with the negative impact of the coronavirus. The rationale for this study is to assess the socio-economic impact of COVID-19 on Ghana's economy and government response to the pandemic as well as policy options to revive the ailing economy.Design/methodology/approachThis study explored the socio-economic impact of the coronavirus on Ghana's economy using a discourse analysis with data from various secondary sources to analyze the impact of the pandemic from the Ghanaian perspective.FindingsThe findings from the discourse analysis revealed that the coronavirus pandemic has negatively impacted on the socio-economic situation of the citizens of Ghana. Whiles an estimated 42,000 people lost their jobs in the first two months of the pandemic in Ghana, tourist attraction sector of the country alone lost $171 million dollars in the past three months due to the partial lockdown and closure of tourism and hospitality centers in the country. The study revealed that Ghana's healthcare system has been overwhelmed by the number of increasing cases in the country to extent of making use of temporary structures as isolation and treatment centers of the pandemic. The study revealed that Ghana may convert these challenges posed by the COVID-19 pandemic into prospects and opportunities by investing massively in the health sector and creating support for the SMEs which creates massive employment for many Ghanaians.Research limitations/implicationsThis study focuses on the impact of the COVID-19 on Ghana's economy and how the pandemic has negatively affected the country. The study is an exploratory study that makes use of secondary data. However, conducting a study with primary data sources from specific communities or regions in the country may not produce the same results. The results from the primary level or community level may be different from the general results obtained from the study. In future it is expected that the study focuses specifically on the extent of the coronavirus pandemic on Ghana's fiscal deficit which seems to have ballooned in recent times.Originality/valueThe study is the first of its kind to extensively explore the socio-economic impact of the COVID-19 pandemic on the Ghanaian economy. The novelty of this paper is that it recognizes governments response to the pandemic and proposes three practical measures adopted to put the country's economy back on its feet through survive, revive and ensuring growth in all sectors of the economy.

Analyzing employee perspectives on the impact of COVID-19 on sustainable practices: a study of five-star hotels in India

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kamakshi Mehta ◽  
Shikha Sharma
Keyword(s):  
Environmental Sustainability ◽  
Successful Implementation ◽  
Content Type ◽  
Sustainable Environment ◽  
Global Environmental ◽  
The Government ◽  
Environmental Agencies ◽  
The Impact ◽  
Practical Implications ◽  
Survey Questionnaires

PurposeGiven the pace of global environmental degradation, companies and individuals alike are exploring ways and means of protecting the environment. In this context, the attitudes of hoteliers and their employees toward sustainability are key to the successful implementation of these practices. This paper aims to consider the impact of attitude development and COVID-19 on the sustainability performance of hotels. The study also explores contributions made by hotels to environmental sustainability and society more generally.Design/methodology/approachThe study is based on interviews and survey questionnaires completed by employees of five-star hotels in India, and qualitative methods were used to process the data.FindingsThe findings of this study confirm the devastating impact of COVID-19 on both economic and societal sustainability in what otherwise would be a profitable sector of the economy.Practical implicationsThe study has implications for hoteliers, the government, environmental agencies and for employees and could assist with the formulation of recovery packages by government and in the development of new standard operating procedures to enable hotels to step-up on the self-recovery path.Originality/valueThe paper provides an analysis of the direct effects of the pandemic on financial sustainability and its mediating impact on the efforts of hotels to attain sustainable environment.

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