Corporate Liability and Internal Procedures

Calcott Paul
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Calcott Paul: Victoria University of Wellington

Review of Law & Economics, 2011, vol. 7, issue 1, 319-336

Abstract: A firm’s impact on social objectives such as environmental standards can often be moderated by procedures–the workplace rules that guide employee behavior. The legal framework can provide incentives for firms to adopt such procedures. For example, firms could be immunized from liability for harm when a suitable procedure has been put in place. However, such immunization tends to deliver excessive incentives for proceduralization, and sometimes also insufficient incentives for firms to enforce procedures. Despite these disadvantages, there are cases in which procedural immunization is socially desirable.

Date: 2011
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DOI: 10.2202/1555-5879.1330

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