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THE IMPACT OF OCCUPATIONAL HEALTH AND SAFETY POLICY ON FIRM VALUE
Author(s) -
HEANEY RICHARD,
IRLICHT LAURENCE
Publication year - 2007
Publication title -
economic papers: a journal of applied economics and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.245
H-Index - 19
eISSN - 1759-3441
pISSN - 0812-0439
DOI - 10.1111/j.1759-3441.2007.tb01017.x
Subject(s) - value (mathematics) , sample (material) , business , accounting , occupational safety and health , enterprise value , law , political science , chemistry , chromatography , machine learning , computer science
There have been few studies that analyse the impact of OHS on the value of Australian firms; yet this is an important area of business for both small and large businesses. In this paper we pay particular attention to the impact of Victorian Workcover Authority prosecutions of listed Australian firms. USA based research shows that OHS prosecutions have a negative impact on firm value and we find some evidence to support the existence of negative share price reaction to OHS prosecution in our sample of listed Australian firms.