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The Cost of Accidental Death: A Capital Market Approach

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  • Broder, Ivy E
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    Abstract

    This article analyzes the effect of accidental deaths involving either a firms workplace or product on the firm's shareholder equity. Significant and sustained losses were found, reaching a peak of over & million per fatality during the second week following an accident. The variation in the cumulative percentage loss to the firms due to the accidents is explained by the number of deaths per accident and the riskiness of the product of workplace--the lower the a priori perceived riskiness, the greater the decline in equity. Copyright 1990 by Kluwer Academic Publishers

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    Bibliographic Info

    Article provided by Springer in its journal Journal of Risk and Uncertainty.

    Volume (Year): 3 (1990)
    Issue (Month): 1 (March)
    Pages: 51-63

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    Handle: RePEc:kap:jrisku:v:3:y:1990:i:1:p:51-63

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    Web page: http://www.springerlink.com/link.asp?id=100299

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    Cited by:
    1. Schlenker, Wolfram & Villas-Boas, Sofia B, 2008. "Consumer and market responses to mad-cow disease," CUDARE Working Paper Series 1023, University of California at Berkeley, Department of Agricultural and Resource Economics and Policy.
    2. Viscusi, W Kip, 1993. "The Value of Risks to Life and Health," Journal of Economic Literature, American Economic Association, vol. 31(4), pages 1912-46, December.
    3. W. Kip Viscusi, 1991. "Product and Occupational Liability," Journal of Economic Perspectives, American Economic Association, vol. 5(3), pages 71-91, Summer.
    4. DREZE , Jacques H. & RUSTICHINI, Aldo, 2000. "State-dependent utility and decision theory," CORE Discussion Papers 2000007, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    5. Abbigail Chiodo & Massimo Guidolin & Michael T. Owyang & Makoto Shimoji, 2003. "Subjective probabilities: psychological evidence and economic applications," Working Papers 2003-009, Federal Reserve Bank of St. Louis.

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