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Patterns in international bribery: Violations of the foreign corrupt practices act
Author(s) -
Sanyal Rajib
Publication year - 2012
Publication title -
thunderbird international business review
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.553
H-Index - 37
eISSN - 1520-6874
pISSN - 1096-4762
DOI - 10.1002/tie.21463
Subject(s) - foreign corrupt practices act , beneficiary , business , corporate governance , enforcement , intermediary , sanctions , liability , capital (architecture) , economic justice , accounting , law , finance , archaeology , political science , history
An examination of U.S. Department of Justice prosecution of violations of the Foreign Corrupt Practices Act shows that officials in less developed countries are the likely recipients of bribes; that bribery occurs more often in the capital‐intensive industries of energy, construction, telecommunications, and military equipment; that firms more often tend to use intermediaries and agents to consummate illicit transactions rather than directly paying the intended beneficiary; and that the overall motivation for bribing is to secure a particular contract. This article reviews the evolving enforcement of the law and recommends a set of managerial actions to reduce corporate liability and improve governance practices. © 2012 Wiley Periodicals, Inc.