In recent years, spectacular cases of corporate crime have surfaced – corruption, fraud, tax evasion. During our webinar we discussed how ensuing legal battles sometimes entail enormous costs for companies and how this is leading to an increasing awareness of and resources devoted to compliance.
In her new book, Corporate Crime and Punishment: The Politics of Negotiated Justice in Global Markets, Cornelia Woll explores how legal battles around corporate misconduct in global markets have played out in a world with rising geo-economic tensions. The risk, she argues, is that legal action initiated in one country against a company in another is seen as coercion rather than a legitimate means to promote integrity. An obvious solution would consist in multilaterally agreed rules to fight corruption and other forms of corporate crime.
The panel explored how the OECD Convention against bribery of foreign officials, which marks it 25th anniversary this year, and other multilateral instruments have performed in this respect. They discussed the demands of business and the implications of US dominance in corporate punishment.
Cornelia Woll (Hertie School) presented key findings of her new book, followed by a discussion with Nicola Allocca (BIAC and Autostrade l’Italia), Gillian Dell (Transparency International), Anna Maija Mertens (DICO) and Nicolas Pinaud (OECD). Nicola Brandt (OECD) moderated the event.
Video:
Presentation of Cornelia Woll
Further Readings:
OECD Anti-Bribery Convention (15 February 1999)
Corporate Crime and Punishment: The Politics of Negotiated Justice in Global Markets, Cornelia Woll (31. October 2023)