Why do manufacturing facilities introduce environmental management systems? Improving and/or signaling performance

Johnstone, Nick; Labonne, Julien

doi:10.1016/j.ecolecon.2008.06.003

Cited by 180 publications

(145 citation statements)

References 19 publications

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“…It is possible that environmental management in itself can contribute to the improvement of corporate reputation if some signalling option is in use, for example, certification [11]. Yet, obviously, as long as reputation depends on the information available and public perception, the effect of environmental management on reputation will be mediated by the reporting efforts of the company and other institutions (such as governments or mass media), as well as by how these efforts are perceived by the public.…”

Section: Environmental Management As a Driver Of Corporate Reputationmentioning

confidence: 99%

“…Additionally, Caplan [3] considers that under certain circumstances polluting firms self-regulate by internalizing the forward effect of their environmental reputation, and Banerjee and Shogren [17] advance that firms concerned about their reputation would exert at least the optimal level of effort in environmental protection. Johnstone and Labonne [11] consider that the environmental management area is characterized by strong information asymmetries, as its quality is not readily observable. The requirement to disclose information on the environmental performance of Sustainability 2017, 9, 376 3 of 15 companies is a vehicle that environmental regulation could use in order to reduce these information asymmetries [5], encouraging stakeholders to exercise disciplinary pressure on the behaviour of firms.…”

Section: Environmental Management As a Driver Of Corporate Reputationmentioning

confidence: 99%

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Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach

et al. 2017

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Abstract:Reputation is a complex and multidimensional concept that may be organized in downside and upside reputational risk. In this article, we present a formal modelling for the management capabilities of environmental management and reporting over reputational risk, considering that reputational risk is becoming increasingly important for organizations and it directly depends on the information available about companies' environmental performances. As long as the effectiveness of communication and disclosure plays a key role in the process, the usefulness of environmental management and reporting as a hedging instrument for reputational risk is addressed through different levels of information transparency. When considering a scenario of voluntary reporting, we show that environmentally concerned companies can reduce the cost of environmental management as a reputational risk strategy, as well as reducing the potential loss of reputational value from reputational threats and increasing the potential profit from reputational opportunities. In the context of mandatory reporting, we highlight the role of assurance companies as bearers of the risk of bad reputations for non-concerned companies. As a result, this novel approach applies theoretical oriented research from options theory to reputational risk management literature, so that it benefits from the option's well known theory, robustness, and conclusions.

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Section: Environmental Management As a Driver Of Corporate Reputationmentioning

confidence: 99%

Section: Environmental Management As a Driver Of Corporate Reputationmentioning

confidence: 99%

Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach

et al. 2017

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“…Pero, además de generar beneficios debidos al control de los procesos y a la generación de información interna específica (12), son ya muchos los autores que apuntan a la mejora no sólo de indicadores operacionales, sino a la influencia que los sistemas de gestión medioambiental tiene sobre el control de costes y la mejora de la imagen de la compañía (13)(14)(15)(16), lo que se traduce en un incremento de los resultados económicos (17). La implantación de la norma ISO 14000 y cómo afecta al comportamiento empresarial se ha estudiado en diversos sectores a nivel internacional como el metalmecánico (18), A. PEIRó-SIgNES, M. SEgARRA-OÑA, J. MONDéJAR-JIMéNEz, M. VARgAS-VARgAS mantener o crear ventajas competitivas (8).…”

Section: B O L E T I N D E L a S O C I E D A D E S P A ñ O Lunclassified

“…Este resultado puede tener importantes implicaciones a nivel empresarial, ya que parece que una vez realizado el esfuerzo y la inversión y obtenida la certificación, se desaprovechan las oportunidades de mejora de resultados que la ISO 14001 como sistema de gestión medioambiental podría ofrecer a la empresa, como el incremento de información, reducción de costes o el control en el uso de los recursos energéticos, entre otros (8,11,12,16,17,23,56).…”

Section: Conclusionesunclassified

ISO 14001 y variables económicas, ¿hay alguna relación? Análisis de las empresas certificadas del sector cerámico español

Peiró-Signes¹,

Segara-Oña²,

Mondéjar-Jiménez³

et al. 2013

Bol. Soc. Esp. Ceram. Vidr.

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Es un hecho constatable el incremento de la adopción de prácticas medioambientales certificadas de manera formal a través de sistemas de gestión medioambiental. De su implantación, que tiene un elevado coste para las empresas, se espera la generación de beneficios, aunque no se ha documentado aún si existe relación entre la implantación de la ISO 14001 y su influencia en la mejora de los indicadores económicos a lo largo del tiempo. En este trabajo se analiza la relación entre la implantación de un sistema de gestión medioambiental, la ISO 14001, y el comportamiento económico en el corto, medio y largo plazo de las empresas del sector cerámico español. Se estudian los indicadores económicos para cada una de las 66 empresas productoras que han implantado la citada norma desde 1996 hasta el año 2009 a través de la comparación con su grupo de control. Los resultados indican que la ISO 14001 no influye en los resultados de las empresas del sector cerámico, ya que no se han encontrado diferencias significativas en los valores de ingresos de explotación ni en el incremento de los ingresos a largo plazo en ninguno de los tres horizontes temporales, corto, medio y largo plazo, obteniendo resultados opuestos a los esperados. Palabras clave: Sector cerámico español, ISO 14001, resultados económicos, SGM, event studyAnalysis of the impact of ISO 14001 in the economic variables of the Spanish ceramic tile industry's companies.The increased in the adoption of formally environmental certified practices through environmental management systems is a provable fact. Its implementation, which has a high cost for the companies, is expected to generate benefits, although the relation between the implementation of ISO 14001 and its influence on the improvement of economic indicators over time has not been documented. This paper analyzes the relation between the implementation of an environmental management system, the ISO 14001, and economic performance in the short, medium and long term for the companies of the Spanish ceramic tile industry. It explores the economic indicators for each of the 66 manufacturing companies which have implemented the aforementioned standard from 1996 until 2009 through a comparison with a control group. Results show that ISO 14001 does not affect the economic results of the studied companies. We have not found significant differences in the operating income values, neither in the increase in revenues in the long term in any of the three analyzed periods, contrary to the expected results. Vol 52, 1, 15-24, enero-Febrero 2013 ISSn 0366-3175. eISSn 2173-0431. doi: 10.3989/cyv.22013 Keywords: Spanish ceramic tile industry, ISO 14001, economic performance, EMS, event study. Boletín de la Sociedad española de Cerámica y Vidrio IntrOduccIón.En un mundo donde las preocupaciones ambientales aumentan (1) y las barreras comerciales disminuyen, el consenso sobre la gestión ambiental y los estándares de certificación tiene gran atractivo para los sectores que operan a nivel internacional (2).La gestión medioambiental...

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“…Firms which claim corporate social responsibility and/or start voluntary corporate initiatives to enhance their reputation, preempt legal sanctions, and want to manage their risks, are dependent on such systems (Cruz, 2009). Additionally, more and more customers already include environmental aspects of products and services such as water consumption and carbon dioxide emissions into their buying decisions (Johnstone & Labonne, 2009). Companies which cannot offer such information might lose customers and will face decreasing market shares (Gonzáles-Benito et al, 2011).…”

Section: Multi-criteria Decision Support Within1 Introductionmentioning

confidence: 99%

First International Conference on Resource Efficiency in Interorganizational Networks – ResEff 2013 –

Geldermann¹,

Schümann²

2013

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Why do manufacturing facilities introduce environmental management systems? Improving and/or signaling performance

Cited by 180 publications

References 19 publications

Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach

Managing Reputational Risk through Environmental Management and Reporting: An Options Theory Approach

ISO 14001 y variables económicas, ¿hay alguna relación? Análisis de las empresas certificadas del sector cerámico español

First International Conference on Resource Efficiency in Interorganizational Networks – ResEff 2013 –

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