ISO 14001 certification in manufacturing firms: a tool for those in need or an indication of greenness?

► We examine market signaling and the role of ISO 14001 certification. ► We have presented our results by studying data from manufacturing firms in Sweden. ► We have studied performance regarding six environmental areas. ► Frontrunner firms and poor performers are equally likely to adopt ISO 14001. ► The presence of market signaling regarding ISO 14001 certification is not confirmed.