Abstract Ensuring food quality and safety in a fiercely competitive market is one of the most important tasks of a food company. An emerging conflict in operations management and production economics has arisen from the varied interpretations of the roles and effects of safety management systems. Although most studies have confirmed that Hazard Analysis and Critical Control Points (HACCP) is an effective management tool in ensuring the safety of finished food products, empirical clarity has yet to be attained with respect to the financial impact of HACCP implementation by firms. Using an event study methodology, we collected a set of food industry panel data to determine differences in firm performance between HACCP adopters and non-adopters through the lens of institutional theory. The results indicate that HACCP certification has both short- and long-term impacts on firm profitability, manufacturing productivity, and asset turnover. Additionally, this study reveals that the implementation of HACCP leads to rapid market growth in the short run. Finally, it also explores the practical implications for food companies of product safety management.

中文翻译：

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HACCP 认证的财务影响：食品行业的实证分析

摘要 在竞争激烈的市场中确保食品质量和安全是食品企业最重要的任务之一。由于对安全管理系统的作用和影响的不同解释，在运营管理和生产经济学中出现了新的冲突。尽管大多数研究已经证实，危害分析和关键控制点 (HACCP) 是确保成品食品安全的有效管理工具，但关于公司实施 HACCP 的财务影响尚未获得实证清晰度。使用事件研究方法，我们收集了一组食品行业面板数据，以通过制度理论的视角确定 HACCP 采纳者和非采纳者之间公司绩效的差异。结果表明，HACCP 认证对公司盈利能力、制造生产力和资产周转率都有短期和长期影响。此外，这项研究表明，实施 HACCP 会导致短期内市场快速增长。最后，它还探讨了产品安全管理对食品企业的实际意义。