Table of Contents
Preface iii
Figures and Table vii
Summary ix
Acknowledgments xvii
Abbreviations xix
Chapter 1 Introduction 1
Overview of Corporate Criminal Liability 5
Research Questions 6
Research Approach and Sources of Data 7
Organization of This Report 13
Chapter 2 How Did Criminal Law Come to Be Applied to Corporate Behavior, and What Lessons Can We Draw from That History? 15
Emergence of Corporate Criminal Liability 16
The Development of Vicarious Criminal Liability 26
Diminishing Relevance of Criminal Intent 29
Conclusion 38
Chapter 3 Recent History: A Shift to Reforming Corporations from Within 41
The Traditional Approach: Prosecuting the Corporation, Not Individuals 42
Guidelines Era: The Start of Structural Reforms 45
The Rise of the Nonprosecution Agreement 50
Conclusion 67
Chapter 4 Trends in Prosecutions of Corporations and Individuals 69
Overall Trend: Declining Prosecutions 69
Convictions and Firm Size 71
Prosecution of Individuals Alongside Convicted Corporations 71
Differences in the Enforcement of Civil and Criminal Law 71
Deferred Prosecution Agreements and Nonprosecution Agreements 73
White-Collar Offenses 76
Important Exceptions: Sarbanes-Oxley and Foreign Corrupt Practices Act 86
Summary 94
Chapter 5 Conclusions and Policy Implications 97
What Lessons Can We Draw for Policymakers? 98
References 107
