TY  - UNPD
A1  - Woll, Cornelia
T1  - Corporate prosecutions: American law enforcement in global markets
T2  - LawFin working paper ; No. 31
N2  - Large companies are increasingly on trial. Over the last decade, many of the world’s biggest firms have been embroiled in legal disputes over corruption charges, financial fraud, environmental damage, taxation issues or sanction violations, ending in convictions or settlements of record-breaking fines, well above the billion-dollar mark. For critics of globalization, this turn towards corporate accountability is a welcome sea-change showing that multinational companies are no longer above the law. For legal experts, the trend is noteworthy because of the extraterritorial dimensions of law enforcement, as companies are increasingly held accountable for activities independent of their nationality or the place of the activities. Indeed, the global trend required understanding the evolution of corporate criminal law enforcement in the United States in particular, where authorities have skillfully expanded its effective jurisdiction beyond its territory. This paper traces the evolution of corporate prosecutions in the United States. Analyzing federal prosecution data, it then shows that foreign firms are more likely to pay a fine, which is on average 6,6 times larger.
T3  - LawFin Working Paper - 31 
Y1  - 2022
UR  - http://publikationen.ub.uni-frankfurt.de/frontdoor/index/index/docId/65172
UR  - https://nbn-resolving.org/urn:nbn:de:hebis:30:3-651729
UR  - https://ssrn.com/abstract=4088322
UR  - http://dx.doi.org/10.2139/ssrn.4088322
N1  - The paper has benefited significantly from a fellow visit of Cornelia Woll at the Center for Advanced Studies Foundations of Law and Finance in Frankfurt in early 2020, funded by the German Research Foundation (Deutsche Forschungsgemeinschaft, DFG) - project FOR 2774.
IS  - April 19, 2022
PB  - Center for Advanced Studies on the Foundations of Law and Finance, House of Finance, Goethe University
CY  - Frankfurt am Main
ER  -