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ISO Certification and Abnormal Return of Stock Price — The Study of the Taiwan Stock Market

Author

Listed:
  • Jo-Hui Chen

    (Department of Business Administration, Chung Yuan Christian University, Chung Li, Taiwan, R.O.C)

Abstract

This paper extends ISO certification research by investigating whether a stock value is influenced by the announcement of its ISO registration with respect to the firm size, industry, and ISO standard series on the Taiwan Stock Exchange. The results show that receiving ISO registration influences abnormal returns. The market reacts favorably to both small and large firms but has no reaction to medium firms in terms of a firm's capital. We also observe significant positive market reaction for Plastics and Textiles. A beneficial implication is that investors may benefit more from their investment endeavors if they can properly examine the specific effects.

Suggested Citation

  • Jo-Hui Chen, 2001. "ISO Certification and Abnormal Return of Stock Price — The Study of the Taiwan Stock Market," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 4(02), pages 109-126.
    • Handle: RePEc:wsi:rpbfmp:v:04:y:2001:i:02:n:s021909150100036x
    DOI: 10.1142/S021909150100036X
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    More about this item

    Keywords

    ISO; Abnormal Return; Taiwan Stock Market;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance

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