Essays on the Relationship between the Integration of Management Systems and Sustainability

Abstract

[eng] This thesis explores the intersection of (integrated) management systems (MSs) and sustainability, aiming to provide insights into how organisations can foster their corporate sustainability performance (CSP). It begins by investigating the relationship between integrated management systems (IMS) and sustainability through a systematic literature review (SLR), highlighting the need for more detailed studies to address multiple existing knowledge gaps. Thereby, the thesis argues in favour of a reciprocal relationship between both concepts, offering a new perspective for both practitioners and academics. Through a cross-regional empirical study, the impact of quality management systems (QMS) and environmental management systems (EMS) on environmental, social, and governance (ESG) performance is examined. The findings reveal that companies implementing QMS and/or EMS demonstrate significantly higher ESG scores compared to those without such MSs. Additionally, the analysis emphasises the benefits of combining QMS and EMS for further enhancing environmental and social performance, while the governance dimension is primarily influenced by the adoption of EMS alone. The thesis continues with a panel data analysis covering financial data of firms throughout the 2010 to 2019 decade, investigating the impact of operating with ISO 9001 certified QMS, ISO 14001 certified EMS, and/or ISO 45001 certified organisational health and safety management systems (OHSMS) on shareholder wealth, as measured by the return on equity (ROE) and dividend per share yield (DY). The results neglect any significant relation between single certifications and firm financial performance (FFP). However, ROE is positively impacted by double certifications that include ISO 9001, and DY reveals positive relationships in the context of any possible combination (double as well as triple certifications).

A bibliometric analysis is conducted to examine the existing management system standards (MSSs) published by the International Organization for Standardization (ISO). The study shows that while research primarily focuses on a few standards, there are numerous other MSSs that address sustainability-related topics, which are gaining increasing attention in academia. Eventually, the work proposes to combine and integrate multiple MSSs for covering a broader range of corporate sustainability (CS) issues. Lastly, this work explores the role of IMS in promoting the adoption of circular economy (CE) principles at the corporate level. Through a SLR, it synthesises the current academic knowledge at hand and emphasises how IMS can facilitate the implementation of the CE. The thesis thereby highlights the importance of institutional intervention in transitioning from a linear to a circular economy and formulates a research agenda for further academic studies. Overall, this doctoral thesis provides a comprehensive overview of the relationship between (integrated) management systems and sustainability. It offers practical insights for managers on implementing IMS to enhance corporate sustainability and addresses different knowledge gaps in academia. By examining various aspects such as ESG performance, shareholder wealth, and circular economy adoption, it contributes to the understanding of how organisations can align their practices with the United Nations’ (UN) sustainable development goals (SDGs) and strive towards more sustainable development (SD). The main contributions relate to (1) motivated research scope expansion, which urges fellow scholars to broaden their view beyond QMS, EMS, and OHSMS, to (2) conceptual advancements in the field, as well as to (3) empirical proofs related to economic, environmental, and social impacts of MSs adoption at the corporate level.