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Corporate Liability and Internal Procedures

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  • Calcott Paul

    (Victoria University of Wellington)

Abstract

A firm’s impact on social objectives such as environmental standards can often be moderated by procedures–the workplace rules that guide employee behavior. The legal framework can provide incentives for firms to adopt such procedures. For example, firms could be immunized from liability for harm when a suitable procedure has been put in place. However, such immunization tends to deliver excessive incentives for proceduralization, and sometimes also insufficient incentives for firms to enforce procedures. Despite these disadvantages, there are cases in which procedural immunization is socially desirable.

Suggested Citation

  • Calcott Paul, 2011. "Corporate Liability and Internal Procedures," Review of Law & Economics, De Gruyter, vol. 7(1), pages 319-336, November.
    • Handle: RePEc:bpj:rlecon:v:7:y:2011:i:1:n:14
    DOI: 10.2202/1555-5879.1330
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    References listed on IDEAS

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    1. Arlen, Jennifer, 1994. "The Potentially Perverse Effects of Corporate Criminal Liability," The Journal of Legal Studies, University of Chicago Press, vol. 23(2), pages 832-867, June.
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    3. Bernard Sinclair-Desgagné, 2000. "Environmental Risk Management and the Business Firm," CIRANO Working Papers 2000s-23, CIRANO.
    4. Kolstad, Charles D & Ulen, Thomas S & Johnson, Gary V, 1990. "Ex Post Liability for Harm vs. Ex Ante Safety Regulation: Substitutes or Complements?," American Economic Review, American Economic Association, vol. 80(4), pages 888-901, September.
    5. Parker,Christine, 2002. "The Open Corporation," Cambridge Books, Cambridge University Press, number 9780521818902.
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