Corporate crime control in China: an observation from culture perspective

Jing Lin

Journal of Money Laundering Control, 2019, vol. 22, issue 3, 472-479

Abstract: Purpose - The purpose of this paper is to critically evaluate role of penal approach in corporate crime control and to assess if compliance program can be accepted in China, the largest developing country with relatively little regulatory capacity and an immature financial market when compared to developed economies. Design/methodology/approach - Based on the general corporate crime control theory, a perspective from legal culture will be specially followed in studying control instruments. Findings - This paper found that the criminal control approach has its limitations in corporate crime control in China and, therefore, argued that compliance programs are highly consistent with Asian legal cultures. However, unlike many developed economies, compliance programs have not been included in sentencing guidelines yet, which has been left to judges’ discretion. Originality/value - The concept of compliance as a control instrument has been widely discussed in developed economies. Limited research observes areas such as China, which faces a notable dilemma, i.e. economics has been speedily booming, whereas regulation rules are relatively left behind.

Keywords: China; Compliance; Corporate crime; Corporate crime control; Penal approach (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jmlcpp:jmlc-09-2018-0058

DOI: 10.1108/JMLC-09-2018-0058

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