Revisiting the stock price impact of quality awards

Omega

Volumn 27, Issue 6, 1999, Pages 595-604

  Adams, Greg ^a   McQueen, Grant ^b   Seawright, Kristie ^a  

^a BRIGHAM YOUNG UNIVERSITY   (United States)

^b ARIZONA STATE UNIVERSITY   (United States)

Author keywords

Baldrige Award; Event study; Securities; Total quality management

Indexed keywords

COSTS; FINANCIAL MARKETS; SHAREHOLDERS; TOTAL QUALITY MANAGEMENT;

ABNORMAL RETURNS; BALDRIGE AWARD; EMPIRICAL INVESTIGATION; EVENT STUDIES; MARKET VALUES; PRICE IMPACTS; PRICE RESPONSE; QUALITY AWARDS; SECURITY; STOCK PRICE;

INVESTMENTS;

EID: 0141767643     PISSN: 03050483     EISSN: None     Source Type: Journal    
DOI: 10.1016/S0305-0483(99)00025-0     Document Type: Article

References (19)

1. Barber BM, Lyon JD. Detecting long-run abnormal stock returns: the empirical power and specification of test statistics. J Finan Econ 1997;43:341-72.
2. Brown SJ, Warner JB. Measuring security price performance. J Finan Econ 1980;8:205-58.
3. Brown SJ, Warner JB. Using daily stock returns, the case of event studies. J Finan Econ 1985;14:3-31.
4. Crosby PB. Quality is free: the art of making quality certain. New York: McGraw-Hill Book Company, 1979.
5. Deming WE. Out of the crisis. Cambridge: Massachusetts Institute of Technology Center for Advanced Engineering Study, 1986.
6. Dyckman T, Philbrick D, Jens JS. A comparison of event study methodologies using daily stock returns: a simulation approach. J Account Res 1984;22:1-30.
7. Dobyns L, Crawford-Mason C. Quality or else: the revolution in world business. Boston: Houghton-Mifflin Company, 1991.
8. Easton GS, Jarrell SL. The effects of total quality management on corporate performance: an empirical investigation. J Business 1998;71:253-307.
9. Easton GS, Jarrell SL. The emerging academic research on the link between total quality management and corporate financial performance: a critical review. In: Stahl M, editor. Perspectives in total quality. Malden: Blackwell Publishers, 1998, in press.
10. Garvin DA. Managing quality: the strategic and competitive edge. New York: The Free Press, 1988.
11. Hendricks KB, Singhal VR. Quality awards and the market value of the firm: an empirical investigation. Manage Sci 1996;42:415-36.
12. Hendricks KB, Singhal VR. The long-run stock price performance of firms with effective TQM programs as proxied by quality award winners. Working Paper. School of Management, Georgia Institute of Technology, 1996.
13. Hendricks KB, Singhal VR. Does implementing an effective TQM program actually improve operating performance? Empirical evidence from firms that have won quality awards. Manage Sci 1998, in press.
14. Ishikawa K. Quality Control in Japan. In: Sasaki N, Hutchins D, editors. The Japanese approach to product quality: its applicability to the West. Oxford: Pergamon Press, 1984.
15. Ishikawa K, Lu DJ. What is total quality control? The Japanese way. Englewood Cliffs: Prentice-Hall, 1985.
16. Juran JM. Juran on planning for quality. New York: The Free Press, 1988.
17. Kothari SP, Warner JB. Measuring long-horizon security price performance. J Finan Econ 1997;43:301-40.
18. Malatesta PH, Thompson R. Partially anticipated events: a model of stock price reactions with an application to corporate acquisition. J Finan Econ 1985;14:237-50.
19. Phillips LW, Chang D, Buzzell RD. Product quality, cost position, and business performance. J Market 1983;47:26-43.