The Cost of Accidental Death: A Capital Market Approach
AbstractThis 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 InfoArticle provided by Springer in its journal Journal of Risk and Uncertainty.
Volume (Year): 3 (1990)
Issue (Month): 1 (March)
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Web page: http://www.springerlink.com/link.asp?id=100299
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- 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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