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Article
Publication date: 15 June 2021

Jayantha Wadu Mesthrige

“Ill-maintenance of common areas” in multi-owner residential properties is described as the “tragedy of anti-commons problem”. The problem can be addressed by outsourcing…

Abstract

Purpose

“Ill-maintenance of common areas” in multi-owner residential properties is described as the “tragedy of anti-commons problem”. The problem can be addressed by outsourcing the management of the property to a company possessing quality property management (PMGT) certification. The PMGT certification is normally hailed as an effective means of reassuring occupiers and prospective property buyers of the good level of quality of the property management to be expected. This study investigated whether PMGT certification carries with it a price premium for residential properties.

Design/methodology/approach

A fixed-effects modelling approach was employed in relation to a large residential properties dataset in Hong Kong, in the period 2009–2018.

Findings

The results indicate, on average, that the PMGT certification commands a price premium of between 3.3 and 3.9%. This premium can be called, the “tragedy of anti-commons premium (TAC premium)”. The results further suggest that significant price premium differences relate to the four different types of certifications studied. The price of a residential unit managed by a property management company (PMC) with Q-mark certification is about 3.4% higher than a unit managed by a non-certified PMC, ceteris paribus. Likewise, corresponding price premiums for units certified related to ISO9001 and HKMAQA certifications are 3.5 and 2.4%, respectively.

Originality/value

To the best of author's knowledge, this is the first attempt to investigate if there is any relationship between the property price premium attributed to “tragedy of anti-commons” and PMGT certification.

Details

Property Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0263-7472

Keywords

Content available
Article
Publication date: 17 May 2021

Stefanella Stranieri, Alessandro Varacca, Mirta Casati, Ettore Capri and Claudio Soregaroli

Environmentally-friendly certifications have increased over the past decade within food supply chains. Although a large body of literature has explored the drivers leading…

Abstract

Purpose

Environmentally-friendly certifications have increased over the past decade within food supply chains. Although a large body of literature has explored the drivers leading firms to adopt such certifications, it has not closely examined the strategic motivations associated with their adoption. This paper aims to investigate an environmentally-friendly certification, VIVA, examining its role as an alternative form of supply chain governance. The aim is to investigate the drivers affecting the adoption of VIVA and to assess managerial perceptions related to transaction-related characteristics and the firm’s internal resources and capabilities.

Design/methodology/approach

This study draws upon both an extended transaction cost economics perspective, which is based on transaction risks and the resource-based view, which examines a firm’s internal resources. A survey was conducted via a structured questionnaire sent to all of the wine producers in charge of the decision regarding whether to adopt VIVA certification. A Hierarchal Bayesian Model was applied to analyse questionnaire responses. Such a model allows us to specify the probabilistic relationship between questions and latent constructs and to carry over uncertainty across modelling levels.

Findings

The adoption of this environmentally-friendly certification is envisioned as a tool to curb internal risks, and thus to manage behavioural uncertainty within the supply chain. A high level of exposure to exogenous transaction risks discourages firms from adopting VIVA certification. The certification system is not perceived as a promoter of operational capabilities. Managers are more likely to implement the certification when they expect that its adoption will leverage their potential knowledge of the supply chain or prompt new and better collaborations with the suppliers. Therefore, the certification can become a resource that interacts with the capabilities of the firm, expressing complementarities that stimulate the formation of dynamic capabilities.

Research limitations/implications

The identification of drivers from the two theoretical perspectives offers insights into the attributes that are perceived as important by managers and which, therefore, could be leveraged to foster the adoption of the environmental certification. The external validity of the study could be improved by extending the sample to other certifications and supply chains.

Originality/value

The study offers a different perspective on environmental certification. It demonstrates that considering the certification as an alternative form of supply chain governance opens up a set of efficiency and strategic considerations that could be addressed to promote the effectiveness of an environmental strategy within a supply chain

Details

Supply Chain Management: An International Journal, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1359-8546

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Article
Publication date: 11 May 2021

Kiryanto Kiryanto, Indri Kartika and Zaenudin Zaenudin

Certification information published by a company will be responded by the market. Therefore, the purpose of this study is to examine the impact of ISO 9001 certification

Abstract

Purpose

Certification information published by a company will be responded by the market. Therefore, the purpose of this study is to examine the impact of ISO 9001 certification on the stock market reaction as indicated by stock returns reaction of companies in Indonesia.

Design/methodology/approach

This study used event study method with the period of 13 days. It consists of 6 days before and after ISO 9001 certification announcement and 1 day at the time of the event. It analyzed by using pair sample t-test and one sample t-test. The stock return data is obtained from companies that are ISO 9001 certified and it tested for their stock reactions before and after the certification.

Findings

The results of empirical research showed that the average and companies cumulative abnormal returns in Indonesia react quickly and positively on the first day after ISO 9001 certification announcement. This study proved the differences between abnormal returns before and after the ISO 9001 certification announcement period.

Research limitations/implications

The company's success in implementing ISO 9001 will have an impact on investment in the capital market with a positive response from stock market players. The implication of this study is the further research can examine directly the impact of ISO 9001 implementation on investor behavior in the capital market.

Originality/value

Based on the development of the literature review, this is the first study which examined the impact of ISO 9001 certification announcement on investor reactions in the short term. Therefore, companies in Indonesia need to implement a quality management system for investors in Indonesia.

Details

International Journal of Quality & Reliability Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 1 June 1998

Kemal Birdir and Thomas E. Pearson

An in‐depth analysis of hospitality certification programmes was conducted. The study revealed important insights on certification demographics, development processes…

Abstract

An in‐depth analysis of hospitality certification programmes was conducted. The study revealed important insights on certification demographics, development processes, certification paths, administration, benefits of certification, credibility and the future of certification programmes. It is found that developing certification programmes commonly involves a long and detailed process. There are serious obstacles in getting association membership to adopt certification programmes. Associations prefer to develop, and manage their certification programmes. Certification programmes seem to benefit both associations and members.

Details

International Journal of Contemporary Hospitality Management, vol. 10 no. 3
Type: Research Article
ISSN: 0959-6119

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Article
Publication date: 6 March 2007

Susan M. Harris

The purpose of this paper is to describe a sustainability certification system and label based on an independent, full life cycle assessment of conventionally produced…

Abstract

Purpose

The purpose of this paper is to describe a sustainability certification system and label based on an independent, full life cycle assessment of conventionally produced goods from “cradle to grave”.

Design/methodology/approach

The design approach used comprised five phases: review of presently available third party environmental certification systems regarding their suitability for use as a sustainability certification tool for conventionally produced goods; identification of desirable scientific and consumer design criteria for a sustainability certification system and label; identification of key performance indicators for sustainability; description of an independent sustainability certification system based on the desirable design criteria, in particular an independent full life cycle assessment; and market trials of the sustainability label to test consumer reactions and commercial benefits of independent sustainability certification using two commercial case studies in Australia and New Zealand.

Findings

None of the third party environmental certification systems reviewed was suitable for use as a sustainability certification tool. Desirable design criteria for a sustainability certification system centred on an independent, full life cycle assessment of operations from “cradle to grave”. A total of eight safety and 12 sustainability key performance indicators were proposed to specifically assess sustainability performance. An instantly recognizable logo comprising a “Green Tick” inside a circle, reminiscent of a government “stamp of approval”, was used as a sustainability label. Market trials of certified household products and lamb meat in Australasia confirmed positive consumer reactions to the “Green Tick” label, and considerable commercial benefits for the companies that used it on their products.

Practical implications

The “Green Tick” sustainability certification system and label addresses an identified gap in the market by providing an easily recognizable, independent, life cycle based sustainability certification of consumer products. Market trials indicated that there was measurable consumer support for independent sustainability labelling, and significant commercial benefits for companies whose products qualified for sustainability labelling.

Originality/value

The paper describes the world's first‐ever independent sustainability certification system and label. It is based on third party, full life cycle assessment of products, in accordance with the European Commission's view that sustainability labelling should be based on independent, full life cycle assessments of products. Market trials of the label in the Australasian FMCG sector indicated that consumers responded positively to an easily recognizable, independent sustainability label, and that independent sustainability certification and labelling have significant commercial potential for manufacturers of genuinely sustainable products.

Details

Management of Environmental Quality: An International Journal, vol. 18 no. 2
Type: Research Article
ISSN: 1477-7835

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Article
Publication date: 18 December 2008

Yumin Liu

As a sign of international quality system, ISO9000 certification has been adopted by more and more enterprises. In recent five years, there have been 560,000 certified…

Abstract

As a sign of international quality system, ISO9000 certification has been adopted by more and more enterprises. In recent five years, there have been 560,000 certified companies in Europe and America, and there have been more than 390,000 ones in China. It has being attracted many quality scholars’ attentions whether ISO9000 certification can bring more benefits to certified companies or not. This paper investigates the ISO9000 certification effect on market performance by the samples from Chinese list companies in shanghai stock exchange. Considering ISO9000 certification as an event, a certification effect model will be set up by means of the event study method, which takes abnormal return rate as a basic indicator to measure the ISO9000 certification effect on Chinese market performance in different event times. Investigation results show that the Chinese certified companies have some positive effects on market performance in the short term. From a long standpoint, the relation between certification and performance has a positive trend.

Details

Asian Journal on Quality, vol. 9 no. 3
Type: Research Article
ISSN: 1598-2688

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Article
Publication date: 1 May 1998

Alan Brown, Ton van der Wiele and Kate Loughton

Discusses the experience of small and medium sized enterprises (SMEs) with ISO 9000 series certification, based on the results of a Western Australian questionnaire…

Abstract

Discusses the experience of small and medium sized enterprises (SMEs) with ISO 9000 series certification, based on the results of a Western Australian questionnaire survey. It explores issues ranging from why certification was sought, the benefits derived and disappointments. Also examines the problems encountered by SMEs and how they dealt with them. Comparisons are made between those SMEs perceiving more success with ISO 9000 series certification and those which do not. Findings suggest that SMEs are experiencing mixed results from ISO 9000 series certification. Some are reporting considerable internal benefits while many are not experiencing external benefits. An encouraging outcome is that a number of SMEs see ISO 9000 series certification as a useful first step in the quality journey with a view to moving forward in the direction of a broader quality management approach.

Details

International Journal of Quality & Reliability Management, vol. 15 no. 3
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 1 February 2001

Jeroen Singels, Gwenny Ruël and Henny van de Water

In this article, the relationship is studied between certification on the ISO 9000 series and the performance of organizations. It is often claimed that ISO certification

Abstract

In this article, the relationship is studied between certification on the ISO 9000 series and the performance of organizations. It is often claimed that ISO certification generates an improvement in the performance of organizations. This research aims to find out if ISO certification indeed results in better performance outcomes for organizations. This is of importance, for example, for those organizations that seek ISO certification in order to improve their performances. To test the hypothesis, an instrument is developed to measure the performance. The performance of organizations is operationalized through five performance indicators, which were derived from the literature: production process, company result, customer satisfaction, personnel motivation, and investment on means. Besides this main research interest the question is posed if other factors can explain for the performance. The concept of motivation is introduced which is the focus of the second part of the study.

Details

International Journal of Quality & Reliability Management, vol. 18 no. 1
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 1 October 1999

Hareton K.N. Leung, Keith C.C. Chan and T.Y. Lee

This paper presents the result of a study to identify the costs and benefits of obtaining ISO 9000 certification. Toward this goal, a survey of some 500 ISO 9000 certified…

Abstract

This paper presents the result of a study to identify the costs and benefits of obtaining ISO 9000 certification. Toward this goal, a survey of some 500 ISO 9000 certified companies has been carried out. Among them, more than 65 per cent believe that ISO 9001 certification is worthwhile, and more than 76 per cent believe that the cost of certification is inexpensive. The results indicate that companies which seek certification because of their customers’ request seem to gain less benefit from ISO 9000 certification. We also found that concern for high costs is much less after initial certification. In addition, we discovered that contrary to many people’s expectation, some factors do not have any bearing on whether benefits outweigh costs. These factors include time taken to get certified, number of years since certification, and reason for certification. Besides presenting the results of the survey, we also introduce a new classification scheme based on the company’s view on the “expensiveness” of the certification and the received benefits. There are some differences in responses from companies of different classes.

Details

International Journal of Quality & Reliability Management, vol. 16 no. 7
Type: Research Article
ISSN: 0265-671X

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Article
Publication date: 7 March 2016

Dana J. Landry

This paper aims to focus on the creation of a certification in the science of innovation.

Abstract

Purpose

This paper aims to focus on the creation of a certification in the science of innovation.

Design/methodology/approach

Polidoro (2013) states that “Certifications are relevant social cues that assist decision making under uncertainty”. When an employer wants to know if a potential candidate has the necessary competencies and knowledge to perform a set of tasks, they often look to education, experience, certificates and/or certifications. When the experience and education of two or more candidates are similar, the presence or absence of a certificate or certification can make a difference about who will be hired (Carter, 2005). Certification in the science of innovation will assist employers in reducing uncertainty in the hiring process and in the professional development of those who focus on the tasks, goals and processes of innovation.

Findings

This paper begins with a definition and explanation of certification and then presents a framework for the science of innovation. A review of the body of knowledge is presented in the International Association of Innovation Professionals (IAOIP) Global Innovation Science Handbook, 1st Ed (Gupta and Trusko, 2013).

Originality/value

From this, the IAOIP certification program is presented with an explanation of the founding principles and the reasoning for the current framework. This paper ends with describing the current status of the IAOIP program and areas for future development.

Details

International Journal of Innovation Science, vol. 8 no. 1
Type: Research Article
ISSN: 1757-2223

Keywords

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