Semantic Scholar Open Access 2019 213 sitasi

Corporate Crime

Edward Elgar Wallace P. Mullin

Abstrak

This chapter surveys the law and economics literature on corporate crime, focusing on theory but also touching on empirical research and policy issues. We set the stage by updating some stylized facts about prosecuted firms. We then proceed to the theory, organizing the discussion within a unified framework provided by the principal-agent model. We distill several core principles from the theoretical literature concerning the optimal sanction level and the optimal sanction target (employee, shareholders, or both). The chapter further addresses more nuanced questions including among others whether the state should consider corporate misdeeds a civil or criminal violation and whether the state should forbid corporations from indemnifying employees. A final section concentrates on securities fraud, a topic of much academic interest in the wake of recent corporate scandals (Enron and WorldCom) and resulting policy reforms (Sarbanes-Oxley Act). JEL Classification: K22, K14, K42, D86

Penulis (2)

Edward Elgar

Wallace P. Mullin

Format Sitasi

APA MLA BibTeX

Elgar, E., Mullin, W.P. (2019). Corporate Crime. https://doi.org/10.4337/9781781950210.00014

Akses Cepat

PDF tidak tersedia langsung

Cek di sumber asli →

Lihat di Sumber doi.org/10.4337/9781781950210.00014

Informasi Jurnal

Tahun Terbit: 2019
Bahasa: en
Total Sitasi: 213×
Sumber Database: Semantic Scholar
DOI: 10.4337/9781781950210.00014
Akses: Open Access ✓