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Searching for the Value of Quality in Financial Services

Author

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  • Andreas C. Soteriou
  • Stavros A. Zenios

Abstract

In this paper we report results from a study, which explores the impact of quality on performance in the financial services industry. Although some disagreement exists, the operations management, economics and marketing literatures advocate a positive relationship between quality and financial performance. Recent strong evidence suggests that in order to be meaningful, such studies must focus on individual industries. Our study focuses on the financial services industry and provides new insights on the relationship between quality and financial performance in this important service sector. Stock performance information is used to further explore this relationship. Through the results reported here, we also identify the weaknesses inherent in existing stock-performance studies on the impact of quality, and identify the methodological approaches that should be pursued in order to avoid such weaknessses.

Suggested Citation

  • Andreas C. Soteriou & Stavros A. Zenios, 2000. "Searching for the Value of Quality in Financial Services," Center for Financial Institutions Working Papers 00-39, Wharton School Center for Financial Institutions, University of Pennsylvania.
    • Handle: RePEc:wop:pennin:00-39
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    File URL: http://fic.wharton.upenn.edu/fic/papers/00/0039.pdf
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    Cited by:

    1. Nicolau, Juan Luis & Sellers, Ricardo, 2010. "The quality of quality awards: Diminishing information asymmetries in a hotel chain," Journal of Business Research, Elsevier, vol. 63(8), pages 832-839, August.
    2. Nicolau, Juan L., 2011. "The decision to raise firm value through a sports-business exchange: How much are Real Madrid's goals worth to its president's company's goals?," European Journal of Operational Research, Elsevier, vol. 215(1), pages 281-288, November.
    3. Nicolau, Juan Luis & Sellers, Ricardo, 2002. "The stock market's reaction to quality certification: Empirical evidence from Spain," European Journal of Operational Research, Elsevier, vol. 142(3), pages 632-641, November.
    4. Beatriz Cuellar Fernandez & Yolanda Fuertes Callen & Jose Antonio Lainez Gadea, 2011. "Stock Price Reaction to Non-financial News in European Technology Companies," European Accounting Review, Taylor & Francis Journals, vol. 20(1), pages 81-111.

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