Matches in SemOpenAlex for { <https://semopenalex.org/work/W1575703593> ?p ?o ?g. }
Showing items 1 to 93 of
93
with 100 items per page.
- W1575703593 abstract "Entrepreneurship sometimes involves violations of legal norms, such as parking prohibitions, competition law, and others. According to the prevailing view in the legal literature, the agent or manager (and not the company) is required to bear the costs, even if the activity was beneficial ex ante for the company. This approach is problematic from a social welfare perspective. Since the company and its owners keep the benefits, they have an incentive to choose the optimal activity level only if they also bear the costs.We analyze the consequences for different types of legal prohibitions and argue that for violations of laws that seek to internalize negative externalities, the fine should be borne by the firm. If the manager is required to pay the fine, the activity level will drop below the optimal amount. This argument has been well understood for breaches of contract, where courts and legal commentators generally accept that the company (and not the manager) has to pay damage awards to the counterparty.There are two caveats. First, it is conceivable that having the manager bear the fine might help to mitigate an agency problem between shareholders and managers. Managers might in some cases have personal reasons to violate the law in their capacity as officers of the company, without any corresponding benefits to the firm. However, we suspect that there are very few, if any, cases of this type. Second, a statute might be intended not just to internalize an externality, but to reduce the level of a specific activity to zero. This might be the case when there is no doubt that the activity is socially harmful under all circumstances, or when the court or administrative authority imposing the fine can identify those cases where the activity is socially desirable and refrain from penalizing the perpetrator. We suspect that criminal law often follows this approach." @default.
- W1575703593 created "2016-06-24" @default.
- W1575703593 creator A5036505506 @default.
- W1575703593 creator A5075671080 @default.
- W1575703593 date "2010-03-31" @default.
- W1575703593 modified "2023-09-26" @default.
- W1575703593 title "‘Useful Illegalities’ in Corporations from a Law and Economics Perspective (‘Nützliche Gesetzesverletzungen’ in Kapitalgesellschaften aus rechtsökonomischer Sicht)" @default.
- W1575703593 hasPublicationYear "2010" @default.
- W1575703593 type Work @default.
- W1575703593 sameAs 1575703593 @default.
- W1575703593 citedByCount "0" @default.
- W1575703593 crossrefType "posted-content" @default.
- W1575703593 hasAuthorship W1575703593A5036505506 @default.
- W1575703593 hasAuthorship W1575703593A5075671080 @default.
- W1575703593 hasConcept C100243477 @default.
- W1575703593 hasConcept C10138342 @default.
- W1575703593 hasConcept C108170787 @default.
- W1575703593 hasConcept C120757647 @default.
- W1575703593 hasConcept C12713177 @default.
- W1575703593 hasConcept C141570072 @default.
- W1575703593 hasConcept C144024400 @default.
- W1575703593 hasConcept C144133560 @default.
- W1575703593 hasConcept C154945302 @default.
- W1575703593 hasConcept C16118543 @default.
- W1575703593 hasConcept C162324750 @default.
- W1575703593 hasConcept C175444787 @default.
- W1575703593 hasConcept C17744445 @default.
- W1575703593 hasConcept C185592680 @default.
- W1575703593 hasConcept C18903297 @default.
- W1575703593 hasConcept C190253527 @default.
- W1575703593 hasConcept C199539241 @default.
- W1575703593 hasConcept C29122968 @default.
- W1575703593 hasConcept C36289849 @default.
- W1575703593 hasConcept C36673458 @default.
- W1575703593 hasConcept C39389867 @default.
- W1575703593 hasConcept C41008148 @default.
- W1575703593 hasConcept C55493867 @default.
- W1575703593 hasConcept C86803240 @default.
- W1575703593 hasConcept C91306197 @default.
- W1575703593 hasConcept C98184364 @default.
- W1575703593 hasConceptScore W1575703593C100243477 @default.
- W1575703593 hasConceptScore W1575703593C10138342 @default.
- W1575703593 hasConceptScore W1575703593C108170787 @default.
- W1575703593 hasConceptScore W1575703593C120757647 @default.
- W1575703593 hasConceptScore W1575703593C12713177 @default.
- W1575703593 hasConceptScore W1575703593C141570072 @default.
- W1575703593 hasConceptScore W1575703593C144024400 @default.
- W1575703593 hasConceptScore W1575703593C144133560 @default.
- W1575703593 hasConceptScore W1575703593C154945302 @default.
- W1575703593 hasConceptScore W1575703593C16118543 @default.
- W1575703593 hasConceptScore W1575703593C162324750 @default.
- W1575703593 hasConceptScore W1575703593C175444787 @default.
- W1575703593 hasConceptScore W1575703593C17744445 @default.
- W1575703593 hasConceptScore W1575703593C185592680 @default.
- W1575703593 hasConceptScore W1575703593C18903297 @default.
- W1575703593 hasConceptScore W1575703593C190253527 @default.
- W1575703593 hasConceptScore W1575703593C199539241 @default.
- W1575703593 hasConceptScore W1575703593C29122968 @default.
- W1575703593 hasConceptScore W1575703593C36289849 @default.
- W1575703593 hasConceptScore W1575703593C36673458 @default.
- W1575703593 hasConceptScore W1575703593C39389867 @default.
- W1575703593 hasConceptScore W1575703593C41008148 @default.
- W1575703593 hasConceptScore W1575703593C55493867 @default.
- W1575703593 hasConceptScore W1575703593C86803240 @default.
- W1575703593 hasConceptScore W1575703593C91306197 @default.
- W1575703593 hasConceptScore W1575703593C98184364 @default.
- W1575703593 hasLocation W15757035931 @default.
- W1575703593 hasOpenAccess W1575703593 @default.
- W1575703593 hasPrimaryLocation W15757035931 @default.
- W1575703593 hasRelatedWork W1565416709 @default.
- W1575703593 hasRelatedWork W1571918839 @default.
- W1575703593 hasRelatedWork W1766489912 @default.
- W1575703593 hasRelatedWork W1911485674 @default.
- W1575703593 hasRelatedWork W2063606261 @default.
- W1575703593 hasRelatedWork W2221472889 @default.
- W1575703593 hasRelatedWork W2266773028 @default.
- W1575703593 hasRelatedWork W2416826409 @default.
- W1575703593 hasRelatedWork W2464783626 @default.
- W1575703593 hasRelatedWork W2478972909 @default.
- W1575703593 hasRelatedWork W2623841463 @default.
- W1575703593 hasRelatedWork W2913980048 @default.
- W1575703593 hasRelatedWork W3121395526 @default.
- W1575703593 hasRelatedWork W3122982154 @default.
- W1575703593 hasRelatedWork W3124692220 @default.
- W1575703593 hasRelatedWork W3127660471 @default.
- W1575703593 hasRelatedWork W3184051174 @default.
- W1575703593 hasRelatedWork W63249839 @default.
- W1575703593 hasRelatedWork W2096419206 @default.
- W1575703593 hasRelatedWork W626549070 @default.
- W1575703593 isParatext "false" @default.
- W1575703593 isRetracted "false" @default.
- W1575703593 magId "1575703593" @default.
- W1575703593 workType "article" @default.