scholarly journals Valuation of Environmental Management Standard ISO 14001: Evidence from an Emerging Market

2019 ◽  
Vol 12 (1) ◽  
pp. 21 ◽  
Author(s):  
Hammad Riaz ◽  
Abubakr Saeed ◽  
Muhammad Baloch ◽  
Nasrullah ◽  
Zeeshan Khan
Keyword(s):  
Environmental Management ◽  
Emerging Market ◽  
Iso 14001 ◽  
Policy Implications ◽  
Organizational Response ◽  
Government Organizations ◽  
Management Standard ◽  
Long Run ◽  
Iso 14001 Certification ◽  
The Impact

ISO 14001 (Environmental Management Standard) helps corporations to build legitimacy and goodwill, and can be also viewed as an organizational response to institutional pressure to act proactively towards the environment. The purpose of this paper is to investigate how investors in the emerging country value voluntary environmental management standard ISO 14001 certification. The impact of voluntary environmental management standard ISO 14001 on market performance is still not clear. By using event study methodology, this study matched ISO-certified firms with non-certified ones based on three different matching principles that include return on assets, size, and industry. The findings indicated that investors negatively valued ISO 14001 in both the short and long run. The study recommended policy implications for managers, policy makers, and non-government organizations.

Perceptions of Legitimacy and Efficacy in International Environmental Management Standards: The Impact of the Participation Gap

2003 ◽  
Vol 3 (3) ◽  
pp. 47-73 ◽  
Author(s):  
Susan Summers Raines
Keyword(s):  
Environmental Management ◽  
Developing Countries ◽  
Developing Country ◽  
Developed Countries ◽  
International Standards ◽  
Iso 14001 ◽  
Management Standards ◽  
Management Standard ◽  
Iso 14000 ◽  
The Impact

What is the impact on perceptions of legitimacy and efficacy when key stake-holders are absent during the creation of international standards? Can these international standards setting bodies adequately address the needs of all countries when often working in the absence of developing countries? This study examines the process through which one international environmental management standard (ISO 14001) was created and analyzes its perceived legitimacy and efficacy among developing country stakeholders relative to those from developed countries. Data for this project come from interviews with 42 delegates to the ISO 14000 standards-drafting sessions in Malaysia and 133 surveys of ISO 14001 certified firms in 16 countries. The article concludes that stakeholder absence impacts both legitimacy and efficacy of ISO 14001 in interesting and unexpected ways.

IMPLEMENTATION OF AN ENVIRONMENTAL MANAGEMENT SYSTEM (ISO 14001; ISO14005) AT ENERGY COMPANIES, THE MAIN ADVANTAGES AND ASSOCIATED RISKS

2020 ◽  
Vol 13 (1) ◽  
pp. 135-142
Author(s):  
A.A. Rementsov ◽  
Keyword(s):  
Environmental Management ◽  
Management System ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Management Standard ◽  
Energy Companies

This article explores the implementation of ISO (ISO) 14001, an environmental management standard that offers organizations that have components of a productive environmental management system to achieve their environmental and economic goals. In particular, the theoretical aspects of emerging risks and the benefits of implementing the standard have been studied. The necessity of introducing an environmental management standard in large, small and medium-sized organizations is substantiated

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 Contribution of Sustainable Tourism to Economic Growth and Employment in Pakistan

2019 ◽  
Vol 16 (19) ◽  
pp. 3785 ◽  
Author(s):  
Faiza Manzoor ◽  
Longbao Wei ◽  
Muhammad Asif ◽  
Muhammad Zia ul Haq ◽  
Hafiz ur Rehman
Keyword(s):  
Economic Growth ◽  
South Asian ◽  
Global Economy ◽  
Tourism Industry ◽  
Policy Implications ◽  
Future Research ◽  
Asian Countries ◽  
Long Run ◽  
Augmented Dickey Fuller ◽  
The Impact

In the global economy, tourism is one of the most noticeable and growing sectors. Thissector plays an important role in boosting a nation’s economy. An increase in tourism flow canbring positive economic outcomes to the nations, especially in gross domestic product (GDP) andemployment opportunities. In South Asian countries, the tourism industry is an engine ofeconomic development and GDP growth. This study investigates the impact of tourism onPakistan’s economic growth and employment. The period under study was from 1990 to 2015. Tocheck whether the variables under study were stationary, augmented Dickey–Fuller andPhillips–Perron unit root tests were applied. A regression technique and Johansen cointegrationapproach were employed for the analysis of data. The key finding of this study shows that there isa positive and significant impact of tourism on Pakistan’s economic growth as well as employmentsector and there is also a long‐run relationship among the variables under study. This studysuggests that legislators should focus on the policies with special emphasis on the promotion oftourism due to its great potential throughout the country. Policy implications of this recent studyand future research suggestions are also mentioned.

Audit-related attributes, regulatory reforms and timely disclosure

2017 ◽  
Vol 15 (2) ◽  
pp. 158-179 ◽  
Author(s):  
Khaled Samaha ◽  
Hichem Khlif
Keyword(s):  
Audit Committee ◽  
Stock Exchange ◽  
Emerging Market ◽  
Chief Executive ◽  
Policy Implications ◽  
Fiscal Year ◽  
Audit Report ◽  
Content Type ◽  
The Impact ◽  
Regulatory Reforms

Purpose This paper aims to examine the impact of audit-related attributes and regulatory reforms on timely disclosure as proxied by audit report lag (ARL) in an emerging market setting, namely, Egypt. Design/methodology/approach The paper used the balanced panel data of 372 firm-years observations of the most actively traded companies on the Egyptian Stock Exchange over the period from 2007 to 2010. The study measures the dependent variable of ARL as the number of days between the client’s fiscal year-end and the audit report. Findings Multivariate analysis indicates that audit committee activity (proxy for regulatory reforms) and external auditor type (proxy for audit-related attributes) contribute significantly to the reduction of ARL and increase disclosure timeliness. Furthermore, the paper found that ARL witnessed a slight decrease following the adoption of the new Egyptian Standards on Auditing (ESA). Finally, the paper’s findings show that industry types moderate the relationship between ARL and several audit-related variables and corporate governance attributes. Practical implications The results may have policy implications for both regulators and investors. For instance, policymakers in Egypt can enact new rules to reduce the Chief Executive Officer duality and establish the minimum required number of audit committee meetings to improve transparency level and, thus, increase disclosure timeliness. Besides, if future regulations aiming to increase disclosure timeliness are intended by Egyptian regulators, this paper’s findings suggest that this may have implications for the audit market because the Big Four audit firms will be more able to meet shorter audit delays. Originality/value The empirical evidence provided in this study further enhances the understanding of timely disclosure in Egypt which represents one of the leading emerging markets in the Middle East and North Africa region.

scholarly journals Real Effective Exchange Rate and Trade Balance Adjustment

2019 ◽  
Vol 19 (131) ◽  
pp. 1 ◽  
Author(s):  
Plamen Iossifov ◽  
Xuan Fei
Keyword(s):  
Exchange Rate ◽  
Global Financial Crisis ◽  
Emerging Market ◽  
Trade Flows ◽  
Policy Implications ◽  
Real Effective Exchange Rate ◽  
The Real ◽  
Effective Exchange ◽  
Effective Exchange Rate ◽  
The Impact

There is an ongoing debate in the literature on whether global trade flows have become disconnected from the large real effective exchange rate movements in the wake of the global financial crisis. The question has important policy implications for the role of exchange rates in supporting growth and restoring external balance. In this paper, we use Turkey---a large and open emerging market economy that has experienced sizable swings of the real effective exchange rate---as a case study to test competing hypotheses. Our results lend support to the finding in existing cross-country studies that the real effective exchange rate remains an important determinant of trade flows. But, its effect is not symmetric in secular periods of appreciation and depreciation and is, oftentimes, dwarfed by the impact on trade flows of the income growth differential between trade partners.

scholarly journals Costs, Benefits, and Motivations for ISO 14001 Adoption in China and Around

2006 ◽  
Vol 1 (3/4) ◽  
pp. 239
Author(s):  
Susan Summers Raines ◽  
Tan Rong ◽  
Xu Fei
Keyword(s):  
Environmental Management ◽  
Management System ◽  
National Level ◽  
Developed Countries ◽  
Environmental Management System ◽  
Iso 14001 ◽  
Third Party ◽  
Policy Makers ◽  
Voluntary Standards ◽  
Iso 14001 Certification

In an attempt to overcome barriers to trade posed by numerous and often contradictory national-level enveironmental requirements, the International Orgnaization for Standardization (ISO) has created a voluntry set of uniform environmental management system guidelines for firms, formally known as ISO 14001. Firms may decide to implement an ISO 14001 environmental management system (EMS) and become third-party certified in order to improve their environmental management and to increase their marketability. This study examines the relative costs, benefits, and motivations for ISO 14001 certification for China compared to other economically developing and developed countries. These comparisons allow us to better understand the ways in which the unique economic and political conditions within China affect the incentives for Chinese firms to join in voluntary self-regulatory measures. Survey results indicate that ISO 14001 certified firms in China and experiencing benefits equal to or greater than their peers in other countries. Benefits to environmental management appear to be significant and they generally outweigh the costs of implementation and certification. However, as with most voluntary standards, the potential for abuse remains. Therefore regulators and policy makers are advised not to grant regulatroy relief or reduced inspections except on a case-by-case basis.

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