Abstract
From an economic perspective, the “principle of liability” is central: Those who decide should pay. This should hold true for white-collar crime. The decision-makers are not the corporations, but the managers—during the financial crisis, they often acted against the interests of the companies. Yet “modern” criminal prosecution focuses on prosecuting corporations. This leads to wrong incentives. Prosecution should increase its focus on managers, even if this turns out to be more difficult than prosecuting the corporation.
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Notes
- 1.
Narrated after Bernstein and Eisinger (2010).
- 2.
Similar arguments in Metzger and Schwenk (1990).
- 3.
See, e.g. Ross (1973).
- 4.
See, e.g. The Economist (2012).
- 5.
See DPA (2012).
- 6.
Gandel (2013).
- 7.
Dominus (2012).
- 8.
SEC (2013).
- 9.
Schäfer and Saigol (2013).
- 10.
Deutsche Wirtschafts Nachrichten (2013).
- 11.
Armbruster (2013).
- 12.
F.A.Z. (2013).
- 13.
Carver (1924).
- 14.
See Jahn (2013).
- 15.
See, for example, Campbell and Göritz (2013).
- 16.
Gandel (2013).
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Bernau, P. (2014). Decision and Punishment: Or—Hold Bankers Responsible! Corporate Criminal Liability from an Economic Perspective. In: Brodowski, D., Espinoza de los Monteros de la Parra, M., Tiedemann, K., Vogel, J. (eds) Regulating Corporate Criminal Liability. Springer, Cham. https://doi.org/10.1007/978-3-319-05993-8_5
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