Economic Analysis of Occupational Risk Prevention in the Construction Sector

The construction sector has one of the worst occupational safety and health records in Europe. The costs of this scenario are very high, namely costs for workers and their families, costs to organizations, resulting from the absence of workers due to illness, insurance premiums, costs resulting from reduced productivity, cost of replacement and training of workers, etc., and costs to society, which in turn increases the costs of health systems. This paper presents and discusses the development of a methodology for economic evaluation in the context of risk management, which will allow senior management to support decision making. The possible application of this methodology to the construction sector is discussed.

Evaluating the Guimarães 2012 European Capital of Culture (ECOC): a Tourist Perception Approach

Guimarães has hosted, during the year of 2012, one of the European Capital of Culture (ECOC). The evaluation of the event is needed as public, private and community funds are involved. The approach considers the tourists (domestic and international) as external and independent stakeholders who assessed the cultural activities developed during the event and the attributes of the city. The results of the survey show that hosting the 2012 ECOC was a major contribution for attracting new visitors to the city, although many of them just for a short period of time. The main source of general information collected by tourists was the Internet, and the traditional media. Only a small amount of respondents demonstrated a specialized knowledge of the cultural program. The most cited and appreciated performances came from the areas of music, exhibitions, and theatre. According to the perceptions of tourists, the tangible assets were clearly detached from the set of attributes of Guimarães, including buildings, churches and chapels, whereas intangible assets were less noted. Overall, Guimarães received a very positive evaluation related to city image and stay and is highly recommended by tourists to friends and relatives.

Residents’ perception of the benefits of cultural tourism: the case of Guimarães

In many cities throughout Europe and the rest of the world, cultural tourism plays a major role in local economic development. Tourism also acts to preserve cultural heritage, as it provides a way to acquire the revenue needed to restore and preserve historical buildings, and encourages local people to value their traditions and festivals. However, tourism success can be a double-edged sword with tourist flows having a strong impact on the quality of life of residents when certain tourist thresholds are surpassed. This paper aims to address local residents’ perception of the benefits of cultural tourism. To capture their perception, a survey was implemented, addressed to both the city centre inhabitants and the non-urban residents of the Guimarães municipality.

Finantial risk analysis of portuguese textile and tourism companies

Textile and tourism sectors are two important industries in the Portuguese economy. However, its high exposure to both internal and international economic volatility make the companies operating in these economic sectors particularly vulnerable to economic crises, such as the ones which have been impacting Portugal and the European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sectors, during the period 2005-2009. The findings suggest that age has a major impact on the risk of failure, rather than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and ultimately depends on the age of the company.

The impact of size and age of the company on assessing financial risk

Textiles and tourism sectors are two important sectors in Portuguese economy. Its high exposure to both internal and international economy volatility transform the companies operating in these economic sectors especially vulnerable to recent economic crises in Portugal and European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sector, during the period 2005-2009. The results conclude that age has a stronger impact on the risk of failure than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and depends on the age of the company.

Economic analysis of occupational risk prevention: a case study in a textile company

Work accidents affect business and society as a whole. Fewer accidents mean fewer sick leaves, which results in lower costs and less disruption in the production process, with clear advantages for the employer. But workers and their households bear also a significant burden following a work accident, only partially compen-sated by insurance systems. Furthermore, the consequences of work accidents to the State and Society need also to be considered. When an organization performs an integrated risk analysis in evaluating its Occupational Health and Safety Management System, several steps are suggested to address the identified risk situations. Namely, to avoid risks, a series of preventive measures are identified. The organization should make a detailed analysis of the monetary impact (positive or negative) for the organization of each of the measures considered. Particularly, it is also important to consider the impact of each measure on society, involving an adequate eco-nomic cost-benefit analysis. In the present paper, a case study in a textile finishing company is presented. The study concentrates on the dyeing and printing sections. For each of the potential risks, several preventive measures have been identified and the corresponding costs and benefits have been estimated. Subsequently, the Benefit/Cost ratio (B/C) of these measures has been calculated, both in financial terms (from the organisa-tion’s perspective) and in economic terms (including the benefits for the worker and for the Society). Results show that, while the financial analysis in terms of the company does not justify the preventive measures, when the externalities are taken into account, the B/C ratio increases significantly and investments are fully justified.

Integration of risk management in occupational health and safety systems

Risk management can be considered as part of the Occupational Health and Safety System (OHS) of an organization and can be used to develop and implement the OHS policy and manage the associated risks. The success of the integration of risk management in OHS depends on both technical and human aspects. Thus, this paper presents and discusses the case of a company working in the area of solid waste treatment. This company was certified in 2009 with an Integrated Management Systems for Quality, Environment, Occupational Health and Safety. The evolution of accidents before and after the implementation of the integrated system was analysed and a questionnaire was used to capture the perceptions of the technicians on the risk management system. The analysis of the findings showed that the frequency of accidents increased since 2009 but the severity has been reduced. Several interrelated causes and consequences were analysed and discussed. Furthermore, the analysis of the opinions of the company’s technicians permitted to highlight some important aspects on the integration of risk management in the OHS system of the company. In line with this discussion some hypothesis have been formulated.

Financial Risk Analysis of Portuguese Textile and Tourism Companies

Textile and tourism sectors are two important industries in the Portuguese economy. However, its high exposure to both internal and international economic volatility make the companies operating in these economic sectors particularly vulnerable to economic crises, such as the ones which have been impacting Portugal and the European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sectors, during the period 2005-2009. The findings suggest that age has a major impact on the risk of failure, rather than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and ultimately depends on the age of the company.

Financial Risk Analysis of Portuguese Textile and Tourism Companies

Textile and tourism sectors are two important industries in the Portuguese economy. However, its high exposure to both internal and international economic volatility make the companies operating in these economic sectors particularly vulnerable to economic crises, such as the ones which have been impacting Portugal and the European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sectors, during the period 2005-2009. The findings suggest that age has a major impact on the risk of failure, rather than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and ultimately depends on the age of the company.

The impact of size and age of the company on assessing financial risk.

Textiles and tourism sectors are two important sectors in Portuguese economy. Its high exposure to both internal and international economy volatility transform the companies operating in these economic sectors especially vulnerable to recent economic crises in Portugal and European Union. The objective of this paper is to evaluate and understand the impact of size and age on the financial health of textile and tourism companies, measured by economic indices. An empirical based model is proposed. Its implications are derived and tested on a sample of 4061 Portuguese companies from textile and tourism sector, during the period 2005-2009. The results conclude that age has a stronger impact on the risk of failure than size. Whereas the effect of age is generally positive regarding the financial health of the company, the effect of size is less clear and depends on the age of the company.