The foreign corrupt practices act: The failure of the self-regulatory model of corporate governance in the global business environment [Book Review]
Graduate studies at Western
Journal of Business Ethics 88 (4):615 - 661 (2009)
|Abstract||The American regulatory model of corporate governance rests on the theory of self-regulation as␣the most effective and efficient means to achieve corporate self-restraint in the marketplace. However, that model fails to achieve regular compliance with baseline ethical and legal behaviors as evidenced by a century of repeated corporate debacles, the most recent being Enron, WorldCom, and Refco. Seemingly impervious to its domestic failure, Congress imprinted the same self-regulation paradigm on legislation restraining global business behavior, the Foreign Corrupt Practices Act. This anti-bribery initiative prohibits unethical and illegal payments made to foreign public officials in an effort to eradicate bribery as a rational-choice global market entry strategy. However, this paper illustrates, using newly complied statistics from 1977 to 2008, that the FCPA has not had a dramatic impact on U.S. global corporate behavior despite its recent high profile coverage and the tough regulatory rhetoric about corporate compliance. The paper also extends the prior Cragg and Woof FCPA efficiency study and provides current empirical evidence to resolve several unanswered questions raised by that earlier study.|
|Keywords||corporate governance Foreign Corrupt Practices Act global ethics bribery self-regulation Rational-choice theory|
|Categories||categorize this paper)|
|Through your library||Configure|
Similar books and articles
Jennifer Bremer & Nabil Elias (2007). Corporate Governance in Developing Economies the Case of Egypt. International Journal of Business Governance and Ethics 3 (4):430-445.
C.-F. Wu (2006). The Study of the Relations Among Ethical Considerations, Family Management and Organizational Performance in Corporate Governance. Journal of Business Ethics 68 (2):165 - 179.
Emanuele Bajo, Marco Bigelli, David Hillier & Barbara Petracci (2009). The Determinants of Regulatory Compliance: An Analysis of Insider Trading Disclosures in Italy. [REVIEW] Journal of Business Ethics 90 (3):331 - 343.
Viet Ha Hoang (2006). Securities Market and Corporate Governance of Privatised Firms. International Journal of Business Governance and Ethics 2 (s 3-4):254-279.
Masako N. Darrough (2010). The Fcpa and the Oecd Convention: Some Lessons From the U.S. Experience. [REVIEW] Journal of Business Ethics 93 (2):255 - 276.
Bill Shaw (1988). Foreign Corrupt Practices Act: A Legal and Moral Analysis. [REVIEW] Journal of Business Ethics 7 (10):789 - 795.
Aaron G. Murphy (2011). Foreign Corrupt Practices Act: A Practical Resource for Managers and Executives. Wiley.
Jack G. Kaikati, George M. Sullivan, John M. Virgo, T. R. Carr & Katherine S. Virgo (2000). The Price of International Business Morality: Twenty Years Under the Foreign Corrupt Practices Act. [REVIEW] Journal of Business Ethics 26 (3):213 - 222.
Asolo Adeyeye Adewole (2007). Corporate Social Responsibility, Self-Regulation, and the Problems of Unethical Business Practices in Africa. International Corporate Responsibility Series 3:69-79.
Added to index2009-01-28
Total downloads98 ( #8,160 of 739,318 )
Recent downloads (6 months)2 ( #37,029 of 739,318 )
How can I increase my downloads?