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Preventing Factory Fires through Contracts: Case study of Garment Factories in Bangladesh

Author

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  • Sato Hideki

    (Kyushu Sangyo University, Japan.)

Abstract

Following a multi-decade history of lethal fires in the Bangladeshi garment industry, Sato (2012) proposed a contract framework that encourages manufacturers to adopt measures that reduce loss of life. Apart from the humanitarian imperative, the manufacturer has an incentive to sign the contract and adopt its preventative measures because an industrial disaster will cancel its relationship with its global retailer and end the related profits. This theoretical study specifies the optimal contract that incentivizes manufacturers and reduces the occurrence of garment industry fires.

Suggested Citation

  • Sato Hideki, 2015. "Preventing Factory Fires through Contracts: Case study of Garment Factories in Bangladesh," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 5(4), pages 9-13, April.
    • Handle: RePEc:mir:mirbus:v:5:y:2015:i:4:p:9-13
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    File URL: http://thejournalofbusiness.org/index.php/site/article/view/757/513
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    References listed on IDEAS

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    1. Sato, Hideki, 2012. "Protecting Against Disaster with Contracts," MPRA Paper 45690, University Library of Munich, Germany.
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    1. Sato Hideki, 2015. "Preventing Factory Fires through Contracts: Case study of Garment Factories in Bangladesh," International Journal of Business and Social Research, LAR Center Press, vol. 5(4), pages 9-13, April.
    2. Sato, Hideki, 2014. "Cournot Competition and Reduction of Corruption to Prevent Garment Factory Fires in Bangladesh," MPRA Paper 56526, University Library of Munich, Germany, revised 09 Jun 2014.
    3. Sato, Hideki, 2015. "Preventing Factory Fires through Contracts: Case study of Garment Factories in Bangladesh," MPRA Paper 64023, University Library of Munich, Germany.

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