Abstract
This article performs empirical research and finds a negative relationship between accidents in the workplace and financial performance. The relationship is stronger and more persistent for performance 1 year ahead than for the current year. We find no significant evidence of curvilinear U-shaped or inverted U-shaped relationships. Results are strong across different industries and samples, variable definitions and model specifications. The study contributes to the scarce extant research with reliable data and samples of a wide span of industries. The study also contributes methodologically with refined analyses of the curvilinear relationship and providing robust widespread inference for a large number of industries.
Disclosure statement
No potential conflict of interest was reported by the authors.
Notes
1 The webpage offers accident rates at division industry level (i.e., two-digit industry code level): http://www.mitramiss.gob.es/es/estadisticas/anuarios/2018/index.htm.