Corrupting Entrepreneurial Action
The Handbook of Law and Entrepreneurship in the United States, Cambridge University Press (D. Gordon Smith & Christine Hurt eds., 2018), Forthcoming
29 Pages Posted: 28 Aug 2017 Last revised: 17 Jan 2019
Date Written: August 24, 2017
This Chapter assesses corruption’s corrosive effects on entrepreneurial action and argues that future progress will depend on getting past a pure law enforcement approach to the problem. Recommendations focus on measures that entrepreneurs can take directly and collaboratively—with or without regulatory support—to mitigate structural challenges that permeate many of the emerging markets they hope to enter. Some strategies seek to make internal compliance more affordable and less complex. Others promote knowledge sharing and the creation of innovative techniques to reduce opportunities for foreign officials to solicit bribes.
Keywords: entrepreneurship, startups, corruption, bribery, FCPA, Foreign Corrupt Practices Act, compliance, new governance
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