Corporate criminal law and organization incentives: a managerial perspective
Corporate criminal liability puts a serious challenge to the economic theory of enforcement. Are corporate crimes different from other crimes? Are these crimes best deterred by punishing individuals, punishing corporations, or both? What is optimal structure of sanctions? Should corporate liability be criminal or civil? This paper has two major contributions to the literature. First, it provides a common analytical framework to most results presented and largely discussed in the field. Second, by making use of the framework, we provide new insights into how corporations should be punished for the offenses committed by their employees. Copyright © 2000 John Wiley & Sons, Ltd.
Volume (Year): 21 (2000)
Issue (Month): 6 ()
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- Shavell, Steven, 1997. "The optimal level of corporate liability given the limited ability of corporations to penalize their employees," International Review of Law and Economics, Elsevier, vol. 17(2), pages 203-213, June.
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- Alexander, C.R. & Cohen, M.A., 1996. "New Evidence on the Origins of Corporate Crime," Papers 96-05, U.S. Department of Justice - Antitrust Division.
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- Karpoff, Jonathan M & Lott, John R, Jr, 1993. "The Reputational Penalty Firms Bear from Committing Criminal Fraud," Journal of Law and Economics, University of Chicago Press, vol. 36(2), pages 757-802, October.
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"The Economic Theory of Public Enforcement of Law,"
NBER Working Papers
6993, National Bureau of Economic Research, Inc.
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