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| Author: | Nicolau, J.L. Sellers, R. |
| Title: | The stock market's reaction to quality certification: empirical evidence from Spain |
| Journal: | European Journal of Operational Research
2002 : NOV, VOL. 142:3, p. 632-641 |
| Index terms: | ASYMMETRIC INFORMATION CERTIFICATION QUALITY STOCK MARKETS SPAIN |
| Language: | eng |
| Abstract: | The objective of this paper is to analyse the stock market's reaction to a company that is granted a quality certification (ISO 9000), and particularly when such an award is publicly announced. To do so, the authors carried out an event study, estimating the mean "abnormal" change in the stock prices of all of the firms that obtained quality certification, based on the ISO 9000 norms, while they were trading on the Spanish stock market between 1993 and 1999. |
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