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Is investing in safety detrimental to the financial health of the firm ?

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  • Nicolas Piluso

    (CERTOP - Centre d'Etude et de Recherche Travail Organisation Pouvoir - UT2J - Université Toulouse - Jean Jaurès - UT - Université de Toulouse - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse - CNRS - Centre National de la Recherche Scientifique, IUT Paul Sabatier - Institut Universitaire de Technologie - Paul Sabatier - UT3 - Université Toulouse III - Paul Sabatier - UT - Université de Toulouse)

Abstract

The article attempts to analyze the effects of an investment in safety of the production process on the dynamics of the distributed dividends. The aim is to answer the question of whether a risky industry has an incentive to invest in safety independently of the decrease in the probability of accidents generated by the safety measures. Although there is an obvious tension between safety and profitability, it appears that the firm may, in certain cases that we identify, have an interest in investing insofar as capital accumulation and dividend distribution are not durably affected by safety.

Suggested Citation

  • Nicolas Piluso, 2022. "Is investing in safety detrimental to the financial health of the firm ?," Post-Print hal-03741321, HAL.
    • Handle: RePEc:hal:journl:hal-03741321
    DOI: 10.54647/economics79325
    Note: View the original document on HAL open archive server: https://hal.science/hal-03741321v1
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