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The impact of international standards certification on the performance of firms in less developed countries
Goedhuys, Micheline Sleuwaegen, Leo
Goedhuys, Micheline
Sleuwaegen, Leo
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Publication Type
Journal article with impact factor
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Supervisor
Publication Year
2013
Journal
World development
Book
Publication Volume
47
Publication Issue
Publication Begin page
87
Publication End page
101
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Abstract
This paper examines the effects of international standards certification (ISC) on both productivity and sales performance for firms from a wide set of countries exhibiting different degrees of institutional development. Against a large dataset of manufacturing firms operating in 59 countries we find that ISC raises productivity and sales performance of firms through efficiency gains and quality signaling, with the effects being larger in countries where market supporting institutions are weak. The largest gain in performance comes from direct productivity improvements helping firms to climb the technological ladder and closing the productivity gap with firms based in developed countries.
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Keywords
Certification, Productivity, Firm Growth, Institutional Development, Transaction Costs, Africa, Latin America, Eastern Europe