Abstract
AbstractAn examination of U.S. Department of Justice prosecution of violations of the Foreign Corrupt Practices Act shows that officials in less developed countries are the likely recipients of bribes; that bribery occurs more often in the capital‐intensive industries of energy, construction, telecommunications, and military equipment; that firms more often tend to use intermediaries and agents to consummate illicit transactions rather than directly paying the intended beneficiary; and that the overall motivation for bribing is to secure a particular contract. This article reviews the evolving enforcement of the law and recommends a set of managerial actions to reduce corporate liability and improve governance practices. © 2012 Wiley Periodicals, Inc.
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