J.P. Morgan Recruitment Practices in China and the Foreign Corrupt Practices Act: Legal Networking or Illegal Bribery?
Frank J Cavico*H. Wayne Huizenga School of Business and Entrepreneurship, Nova Southeastern University, Ft. Lauderdale, Florida, USA
Abstract
This article examined J.P. Morgan Chase and Company (J.P. Morgan) and its recruitment practices in China pursuant to the U.S. Foreign Corrupt Practices Act (FCPA). Certain key elements of the statute were explicated and illustrated in the context of the bank’s hiring in China. The article found that J.P. Morgan has an arguable defense to legal liability based on the lack of evidence that the bank acted with the requisite “corrupt” intent. The article also provided an examination of the morality of J.P. Morgan’s recruitment practices pursuant to three ethical theories. It was found that the bank was acting morally pursuant to Utilitarianism and Ethical Relativism, but immorally under Kantian ethics. The article supplied general recommendations for companies and specific ones to J.P. Morgan to avoid liability pursuant to the FCPA.
Keywords: Bribery, China, corrupt intent, ethics, Foreign corrupt practices act (FCPA).
Article Information
Article History:
Received Date: 2/2/2015
Revision Received Date: 9/3/2015
Acceptance Date: 11/3/2015
Electronic publication date: 30/4/2015
Collection year: 2015
© Frank J. Cavico; Licensee Bentham Open.
open-access license: This is an open access article licensed under the terms of the Creative Commons Attribution Non-Commercial License (http://creativecommons.org/licenses/by-nc/3.0/) which permits unrestricted, non-commercial use, distribution and reproduction in any medium, provided the work is properly cited.
* Address correspondence to this author at the H. Wayne Huizenga School of Business and Entrepreneurship, Nova Southeastern University, Ft. Lauderdale, Florida, USA; Tel: 954 262-5096; E-mail: cavico@nova.edu
Open Peer Review Details |
Manuscript submitted on 2-2-2015 |
Original Manuscript |
J.P. Morgan Recruitment Practices in China and the Foreign Corrupt Practices Act: Legal Networking or Illegal Bribery? |