Green and profitable for sustainable development: the strategic advantage of integrated management systems on environmental, economic and financial performance

Purpose: In today’s rapidly evolving and competitive business environment, Integrated Management Systems (IMS) have become essential for firms striving to excel across various performance metrics. The benefits of individual ISO standards have been widely documented; however, the extent to which adopting IMS affects firm performance in the economic, financial and environmental dimensions is less understood. Therefore, this study aims to assess the influence of IMS adoption on manufacturing firms’ performance across all performance dimensions. Design/methodology/approach: To achieve this objective, panel data from 245 firms listed on the Pakistan Stock Exchange for 2009–2023 were analyzed. The authors empirically analyzed the results using a two-way fixed-effects panel regression model. The authors empirically analyze the results using a two-way fixed-effects panel regression model. Findings: The authors find that firms that adopt IMS significantly improve their economic, financial and environmental performance. Originality/value: This study shows how IMS improves firm performance and provides a competitive edge in a changing business environment.