@article{ART002557365},
author={JEON, YONG-IL and Dong Ha Kim and BAEK, HEECHONG},
title={Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea},
journal={Crisisonomy},
issn={2466-1198},
year={2020},
volume={16},
number={1},
pages={121-132},
doi={10.14251/crisisonomy.2020.16.1.121}
TY - JOUR
AU - JEON, YONG-IL
AU - Dong Ha Kim
AU - BAEK, HEECHONG
TI - Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea
JO - Crisisonomy
PY - 2020
VL - 16
IS - 1
PB - Crisis and Emergency Management: Theory and Praxis
SP - 121
EP - 132
SN - 2466-1198
AB - In this study, we identified the costs, both tangible and intangible, that are incurred by workplace accidents in order to estimate the total financial losses. We then verified the Heinrich ratio that was originally derived in the U.S. almost 90 years ago. The Heinrich ratio indicates that the indirect costs of a workplace accident are typically 4 times higher than the direct costs (1:4). Our literature review produces the general estimation model which includes the detailed and comprehensive items on direct and indirect loss from workplace accidents. The latest five-year data on workplace accidents in South Korea were used for various sectors including manufacturing, construction and service industries. The data on both fatal and moderate accidents were collected to calculate the direct and indirect costs of workplace accidents in order to verify the validity of the Heinrich ratio of between direct and indirect costs of industrial accidents in South Korea. The ratio was found as 1:6.2 for fatal accidents and 1:7.2 for moderate accidents, which are higher than the ratio of 1:4, originally suggested by Heinrich. The findings of this study could be actively utilized in the company’s safety management and government policies.
KW - workplace accident;direct cost;indirect cost
DO - 10.14251/crisisonomy.2020.16.1.121
ER -
JEON, YONG-IL, Dong Ha Kim and BAEK, HEECHONG. (2020). Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea. Crisisonomy, 16(1), 121-132.
JEON, YONG-IL, Dong Ha Kim and BAEK, HEECHONG. 2020, "Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea", Crisisonomy, vol.16, no.1 pp.121-132. Available from: doi:10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL, Dong Ha Kim, BAEK, HEECHONG "Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea" Crisisonomy 16.1 pp.121-132 (2020) : 121.
JEON, YONG-IL, Dong Ha Kim, BAEK, HEECHONG. Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea. 2020; 16(1), 121-132. Available from: doi:10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL, Dong Ha Kim and BAEK, HEECHONG. "Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea" Crisisonomy 16, no.1 (2020) : 121-132.doi: 10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL; Dong Ha Kim; BAEK, HEECHONG. Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea. Crisisonomy, 16(1), 121-132. doi: 10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL; Dong Ha Kim; BAEK, HEECHONG. Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea. Crisisonomy. 2020; 16(1) 121-132. doi: 10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL, Dong Ha Kim, BAEK, HEECHONG. Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea. 2020; 16(1), 121-132. Available from: doi:10.14251/crisisonomy.2020.16.1.121
JEON, YONG-IL, Dong Ha Kim and BAEK, HEECHONG. "Evaluating the Heinrich Ratio of between Direct and Indirect Costs of Industrial Accidents in South Korea" Crisisonomy 16, no.1 (2020) : 121-132.doi: 10.14251/crisisonomy.2020.16.1.121
