Theory of the Firm and Corporate Sentencing: Comment on Baysinger and Macey, 71 Boston University Law Review 377 (1991)
The common theme in the Articles by Barry Baysinger and Jonathan
Macey is that standard economic theories of the effect of incentives on individual behavior are inapplicable to corporate crime because organizations
are complex entities. Both authors conclude that proposed Sentencing
Commission guidelines aimed at increasing vicarious sanctions will be ineffectual or counterproductive at stopping corporate crime. The Articles'
importance is in making plain what we need to know for resolving the sentencing debate, rather than in providing a compelling resolution. This is
because the policy implications of the new learning on the theory of the firm
that they have incorporated into the debate cannot be identified with confidence in the absence of a formal model and empirical testing.
Date of Authorship for this Version
Romano, Roberta, "Theory of the Firm and Corporate Sentencing: Comment on Baysinger and Macey" (1991). Faculty Scholarship Series. 1952.