Planning of Deterrence-system of Unlawful Conducts and Behaviors by Corporations --An Approach by Law and Economics--

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We have studied planning an legal-system to deter corporations' illegal or unlawful conducts and activities optimally. This study took approach based on the model of principal-agency, and generally used the analytical tools of the law and economics. Using these models and tools, we approached the problem of the optimal deterrence from many legal aspects. We dealt and analyzed the problem theoretically and positively. That is as follows :1. We analyzed crimes or illegal conducts by organizations and corporations themselves, and their employees under the principal-agency model. In this area, the deterrence system works relatively well, compared with other law.2. We dealt with problems including principal-agency relationship and similar relationships in transaction-law, and employer's liability for unlawful conducts (torts) by their employees (vicarious liability) in tort law. These legal rules, it has been traditionally understood, could not create an incentive to deter illegal actions, but they have a possibility to induce incentives to deter.3. There had been, to some extent, effective incentives to deter illegal activities and conspiracies under the many kinds of sanctions of Anti-trust law of Japan.4. We analyzed the problem of the corporation's legal and social responsibility from the point of the legal-philosophical analysis. we have found that the legal system should induce corporations or enterprises, seeking efficiency in producing goods and servies, to have incentives to deter illegal conducts effectively ; it is necessary that the optimal deterrence system should be based on the fairness values in the market.Based on the above positive analysis, researches and investigations by each members of this study have been integrated. We have got conclusions that our legal system induces some incentives to deter illegal activities, but it is not still an optimal deterrence system. There should be some improvements toward an optimal deterrence system.