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ABSTRACT

Occupational accidents in a workplace not only cause serious physical and/or mental damage to workers, but also have significant impacts on the corporate management performance through compensation costs for the victims, suspension of production, decline of corporate image, etc. Based on the corporate-level panel data of the Korean manufacturing industries established by merging the workplace-level occupational accidents data into the financial statements data, this study analyzes the quantitative effects of occupational accidents on corporate performance using econometric techniques. According to the analysis result, the increase of occupational accidents reduces sales per employee, operating profit per employee, the ratio of operating profit to sales and sales growth rate by a statistically significant level. To be specific, 1% increase of the occupational accidents rate reduces the sales per employee by about KRW 12.15～14.31 million, the operating profit per employee by about KRW 2.11～2.47 million, the ratio of operating profit to sales by 1.11～1.21%p, and the sales growth rate by 0.45～0.71%p.

Keywords

• Occupational accidents
  Corporate performance
  Panel data analysis