Board size, board independence, occupational health and safety risk management performance. A study of corporate governance

Download This Article

This work is licensed under a Creative Commons Attribution 4.0 International License.

Abstract

The purpose of this paper is to empirically examine the influence of internal corporate governance (CG) mechanisms (board size — BS and board independence — BI) on the occupational health and safety (OHS) risk management performance of 30 Johannesburg Stock Exchange (JSE) listed mining firms. We exploit data chosen from published integrated annual reports of JSE-listed mining firms for the period from 2002 to 2018. Following an empirical approach based on descriptive statistics and multivariate regression analysis, the study found a negative relationship between CG mechanisms and occupational safety risks. However, the results of the study confirmed a significant and negative relationship between CG mechanisms and occupational health risks. The study endeavour outlines the decisive importance of optimal BS and independence as essentials of effective OHS risk management approaches, resulting in improved overall performance for the firms under study. Moreover, the study results contribute to the existing body of knowledge as well as assist policymakers and regulators in supporting mining firms in their quest to attain the “zero harm” milestone by December 2024 (Mineral Council South Africa [MCSA], 2022).

Keywords: Occupational Health and Safety Risks, Corporate Governance, Board Size, Board Independence, Zero Harm

Authors’ individual contribution: Conceptualization — L.C.C.; Methodology — L.C.C.; Formal Analysis — L.C.C.; Investigation — L.C.C.; Resources — L.C.C. and A.T.M.; Writing — Original Draft — L.C.C.; Writing — Review & Editing — A.T.M.; Supervision — A.T.M.; Project Administration — L.C.C.; Funding Acquisition — A.T.M.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G30, G32, G38, J53, O16

Received: 24.04.2024
Revised: 31.07.2024; 17.09.2024; 28.03.2025
Accepted: 25.04.2025
Published online: 29.04.2025

How to cite this paper: Chikosi, L. C., & Mutezo, A. T. (2025). Board size, board independence, occupational health and safety risk management performance. A study of corporate governance. Journal of Governance & Regulation, 14(2), 135–144. https://doi.org/10.22495/jgrv14i2art14