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- Title
Do Stable Institutional Investors Influence Employee Safety?
- Authors
Amin, Md Ruhul; Sakaki, Hamid
- Abstract
Using establishment-level data compiling incidents of work-related injuries from the Occupational Safety and Health Administration (OSHA), we find that workplace injury and illness rates decrease with institutional ownership stability. Our further analyses show that firms with more stable institutional ownership are likely to initiate socially responsible investing proposals and have lower employee workloads/pressure. These results suggest two potential mechanisms through which stable institutional investors influence workplace safety. Overall, stable institutional investors seem to benefit from improvements in employee safety, as work-related injuries have a negative impact on firm value.
- Subjects
UNITED States. Occupational Safety &; Health Administration; INDUSTRIAL safety; INSTITUTIONAL investors; WORK-related injuries; INSTITUTIONAL ownership (Stocks); EMPLOYEES' workload
- Publication
Quarterly Journal of Finance, 2022, Vol 12, Issue 2, p1
- ISSN
2010-1392
- Publication type
Article
- DOI
10.1142/S2010139222500045