Analysis of Business Cycle Influencing the Quarterly Occupational Accidents in Korea

Corporate Characteristics and Occupational Injuries by Industry

“…Finally, the distinction between industries was more obvious in terms of wage increases. Kim and Park (2022) pointed out that while wage increases can create incentive effects that can reduce occupational injuries, in some industries where there is a significant substitution effect due to wage increases, it can also increase occupational injuries [ 16 , 17 ]. Our results show that wage increases reduce occupational injuries in manufacturing and other industries, while the construction industry shows the opposite results.…”

“…In particular, Kossoris pointed out that the increase in demand for goods due to economic booms can increase the speed of work among workers and lead to an increase in the employment of inexperienced workers, which can increase the likelihood of occupational injuries [ 4 ]. Subsequent studies consistently revealed that economic factors such as GDP, unemployment rate, and production index, which are directly or indirectly related to changes in demand, are associated with the occurrence of occupational injuries [ [5] , [6] , [7] , [8] , [9] , [10] , [11] , [12] , [13] , [14] , [15] , [16] , [17] , [18] , [19] ]. On the other hand, microlevel research conducted at the level of individual firms has revealed a close relationship between occupational injuries and general characteristics such as working hours and employment status, ability to work and age, and safety culture within the workplace, as well as financial characteristics such as operating profits, size of an assets, liabilities, and asset composition characteristics such as capital intensity [ [20] , [21] , [22] , [23] , [24] , [25] , [26] ].…”