产品市场竞争对生产安全的影响

IF 7.2 1区经济学 Q1 BUSINESS, FINANCE

Journal of Corporate Finance Pub Date : 2025-03-30 DOI:10.1016/j.jcorpfin.2025.102778

Emdad Islam, Blake Loriot, Lubna Rahman

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引用次数: 0

摘要

我们调查了产品市场竞争（PMC）对工作场所健康和安全违规行为的影响。我们的研究结果表明，面临严重PMC的企业违反工作场所安全标准的发生率更高，并且对此类违法行为支付更高的罚款。通过将进口关税降低作为准外生冲击，我们证明了竞争压力显著加剧了这些违规行为。企业的战略取向，无论是削减成本还是产品差异化，都显著地塑造了这些结果。此外，来自分析师的压力放大了负面影响，而工会化有助于减轻这些有害影响，突显了治理和市场力量之间微妙的相互作用。

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The impact of product market competition on workplace safety

We investigate the impact of product market competition (PMC) on workplace health and safety violations. Our findings reveal that firms facing intense PMC have higher incidences of workplace safety standards violations and pay higher penalties for such offenses. By leveraging reductions in import tariffs as quasi-exogenous shocks, we demonstrate that competitive pressures significantly worsen these violations. The strategic orientations of firms, whether towards cost-cutting or product differentiation, markedly shape these outcomes. Furthermore, pressure from analysts amplifies the negative impact, while labor unionization helps mitigate these detrimental effects, highlighting the nuanced interplay between governance and market forces.

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来源期刊

Journal of Corporate Finance BUSINESS, FINANCE-

CiteScore

11.80

自引率

3.30%

发文量

期刊介绍： The Journal of Corporate Finance aims to publish high quality, original manuscripts that analyze issues related to corporate finance. Contributions can be of a theoretical, empirical, or clinical nature. Topical areas of interest include, but are not limited to: financial structure, payout policies, corporate restructuring, financial contracts, corporate governance arrangements, the economics of organizations, the influence of legal structures, and international financial management. Papers that apply asset pricing and microstructure analysis to corporate finance issues are also welcome.