| Summary: | 碩士 === 國立彰化師範大學 === 商業教育學系 === 87 === Quality Assurance System and Long-Term Financial Per-formance: An Empirical Analysis in Public Firms of Taiwan
Abstract
This study examined the hypotheses that implementing quality assurance system improved the long-term financial performance of firms. Besides, we also used a sample of ISO registered firms to empirical test hypotheses relating abnor-mal financial performance associated with implementation of quality assurance system to various firm characteristics. The characteristics examined are firm size, the degree of capital intensity, the proportion of export sales and the timing of obtaining certification.
Our main results are as follow:
1. Firms that have implemented quality assurance system perform better than the control firms on operating income based and Sales based measures.
2. Firms exist a time lag to improve their financial perfor-mance after obtaining certification.
3. The benefit from quality assurance system is mainly in the increase of sales.
4. There is weakly evidence to indicate that during the post-certification period smaller firms do better than larger firms.
5. The firms with higher proportion of export sales do better than lower ones during post-certification period.
6. Lower capital intensity firms do better than higher capital intensity firms in cost reduction.
7. We do not observe any significant difference between the earlier and later certification.
Keywords: Quality Assurance System, Long-Term Financial
Performance, Firm Characteristics
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