Empirical analysis of the incidence of accidents in the workplace on firms’ financial performance

Argilés‐Bosch, Josep M.; Martí, Jordi; Monllau, Teresa; García-Blandón, Josep; Urgell, Teresa

doi:10.1016/j.ssci.2014.05.012

Cited by 25 publications

(13 citation statements)

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“…However, under standard accounting practice in construction companies, the items that comprise these costs are not identified. Most of the concepts involved are included in different accounting items, and the impact of each one on the income statement remains unknown (Aaltonen et al, 1996;Argilés-Bosch et al, 2014;Oxenburgh and Marlow, 2005;Riel and Imbeau, 1996;Rikhardsson, 2004). The case study presented in this work shows some examples of these costs, such as the health and safety measures or the individual and collective protective equipment, as indicated in Table 8.…”

Section: Discussionmentioning

confidence: 99%

“…As Argilés-Bosch et al (2014) recommend, firms have to devote resources and management accounting techniques for assessing the true economic consequences of labour accidents. Moreover, this information could contribute to provide a picture of the firm's social responsibility and its implication with occupational health safety, providing relevant information for stakeholders.…”

Section: Discussionmentioning

confidence: 99%

“…Managerial accounting, as an information system for management, can play a vital role in this respect, by systematically providing appropriate reports to support the decision-making process in the area of health and safety at work (Argilés-Bosch et al, 2014;Tappura et al, 2015). Awareness of the nature and dimension of safety costs is of great importance for risk management within companies.…”

Section: Discussionmentioning

confidence: 99%

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Managerial accounting for safety management. The case of a Spanish construction company

2015

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

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Managerial accounting for safety management. The case of a Spanish construction company

2015

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“…In such situations, a firm's dynamics are unable to perform well, because strategic and planning activities are constantly being postponed in order to run daily operations, and any available resources, however valuable or qualified, must be implemented to ensure shortrun operations and to deal with disruptions caused by unexpected events. For instance, Argilés et al (2014) found empirical evidence that labor accidents contribute to decreasing long-term profitability, suggesting that the disruptions caused by these accidents take up managerial slack, diverting managerial attention and strategic activities into ensuring restoration of daily operative tasks. There is a large body of empirical evidence pointing to the beneficial effects of planning on performance (e.g.…”

Section: Theoretical Backgroundmentioning

confidence: 99%

An empirical analysis of the curvilinear relationship between slack and firm performance

Argilés‐Bosch

García-Blandón

Ravenda³

et al. 2018

J Manag Control

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This study performs an in-depth analysis of the curvilinear relationship between slack and future firm performance. Using a sample of US firms, we analyze the influence of three indicators of absorbed and unabsorbed slack on the two commonest dimensions of firm performance: profitability and sales growth. Although the relationship between most slack variables and firm performance is curvilinear, the inflection points (for both maximums and minimums) lie mainly outside the distribution range of the slack variables and, consequently, the curvilinear relationships between slack and performance are, in fact, neither U-shaped nor inverted U-shaped. Therefore, the influence of slack on performance can be positive or negative: linear for certain variables, but concave/convex for most variables analyzed in our study. An additional important finding is that the influence of slack on future profitability is usually the opposite of its influence on future sales growth: negative and positive, respectively, for absorbed slack; positive and negative, respectively, for financial slack. Results are robust to different lagged periods of the independent variables. The effects of equity and cash slacks on future performance are mainly negative, especially for longer time periods.

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“…Occupational injuries are one the most significant health threats in largescale workplaces [1], and are associated with suffering and loss at individual, community, societal and organizational levels [2]. At the organization level, occupational accidents have a significant negative influence on the financial performance of a company [3]. Workplace incidents have direct costs, paid as medical and indemnity expenses to the injured.…”

Section: Introductionmentioning

confidence: 99%

Use of Neural Networks to Identify Safety Prevention Priorities in Agro-Manufacturing Operations within Commercial Grain Elevators

2019

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The grain handling industry plays a significant role in U.S. agriculture by storing, distributing, and processing a variety of agricultural commodities. Commercial grain elevators are hazardous agro-manufacturing work environments where workers are prone to severe injuries, due to the nature of the activities and workplace. Safety incidents in agro-manufacturing operations generally arise from a combination of factors, rather than a single cause, therefore, research on occupational incidents must look deeper into identifying the underlying causes, through the application of advanced analyses methods. In occupational safety, it is possible to estimate and predict probability of safety risks through developing artificial neural network predictive models. Due to the significance of safety risk assessment in the design and prioritization of effective prevention measures, this study aimed at classifying and predicting causes of occupational incidents in grain elevator agro-manufacturing operations in the Midwest region of the United States. Workers’ compensation claims data, from 2008 to 2016, were utilized for training multilayer perceptron (MLP) and radial basis function (RBF) neural networks. Both MLP and RBF models could predict the probability of safety risks with a high overall accuracy of 60%, 61%. Based on values of AUC (area under the curve) from the ROC (receiving operating charts), both models predicted the probability of individual safety risks with a high accuracy rate of between 71.5% and 99.2%. In addition, sensitivity analysis showed that nature of injury is the most significant determinant of safety risks probability, along with type of injury. The novelty of this study is the use of the artificial neural network methodology to analyze multi-level causes of occupational incidents as the sources of safety risks in bulk storage facilities. The results confirm that artificial neural networks are useful in safety risk estimation, and identifying the incidents’ risk factors. The implementation of safety measures in grain elevators can help in preventing occupational injuries, saving lives, and reducing the occurrence and severity of such incidents in industrial work environments.

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Empirical analysis of the incidence of accidents in the workplace on firms’ financial performance

Cited by 25 publications

References 50 publications

Managerial accounting for safety management. The case of a Spanish construction company

Managerial accounting for safety management. The case of a Spanish construction company

An empirical analysis of the curvilinear relationship between slack and firm performance

Use of Neural Networks to Identify Safety Prevention Priorities in Agro-Manufacturing Operations within Commercial Grain Elevators

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