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Does industry self-regulation reduce accidents? Responsible care in the chemical sector

Finger, Stephen R. and Gamper-Rabindran, Shanti (2011) Does industry self-regulation reduce accidents? Responsible care in the chemical sector. Working Paper. UNSPECIFIED. (Unpublished)

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Abstract

This is the first study to evaluate the impact of self-regulation on industrial accidents. We examine Responsible Care in the US chemical manufacturing sector using our author-constructed database of 1,867 firms that own 2,963 plants between 1988 and 2001. Firms’ self-selection into RC is instrumented using pollution-related regulatory pressure on firms that influences their probability of joining RC, but not plant-level accidents. The average treatment effect on the treated indicates that RC reduces the likelihood of accidents by 2.99 accidents per 100 plants in a given year. This 69.3% reduction in the likelihood of accidents, accounting for the plants that participate in RC, translates to back-of-the-envelope avoided losses of $0.8 billion to $3.8 billion per year. RC also reduces the likelihood of more narrowly-defined accidents, i.e., process safety accidents and accidents related to violations of RC codes, by 5.75 accidents per 100 plants in a given year or by 85.9%.


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Details

Item Type: Monograph (Working Paper)
Status: Unpublished
Creators/Authors:
CreatorsEmailPitt UsernameORCID
Finger, Stephen R.
Gamper-Rabindran, Shanti
Centers: Other Centers, Institutes, or Units > Center for Industry Studies
Monograph Type: Working Paper
Date: 18 November 2011
Date Type: Publication
Access Restriction: No restriction; Release the ETD for access worldwide immediately.
Institution: University of Pittsburgh
Department: Graduate School of Public and International Affairs
Schools and Programs: Graduate School of Public and International Affairs > Public and International Affairs
Refereed: Yes
Uncontrolled Keywords: Corporate, Social, Responsibility, Industry, Self-Regulation, Industrial, Accidents, Process, Safety, Environmental, and, Health, Safety
Funders: National Science Foundation (BCS 0351058 and SES 1127223)(), University of Pittsburgh’s Central Research Development Fund(), University Center for Social and Urban Research(), European Union Center of Excellence()
Date Deposited: 01 Mar 2012 22:26
Last Modified: 25 Aug 2017 05:08
URI: http://d-scholarship.pitt.edu/id/eprint/11155

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