Federal Sentencing Guidelines Governing Organizations purport to constrain judicial discretion over corporate criminal penalties. We investigate the effect on courts' sentencing decisions using pre- and post-Guidelines data, including evidence on cases and penalties that the Guidelines do not...

Over the last decade, federal corporate criminal enforcement policy has undergone a significant transformation. Firms that commit crimes are no longer simply required to pay fines. Instead, prosecutors and firms enter into pretrial diversion agreements (PDAs). Prosecutors regularly use PDAs to...

Over the last decade, federal corporate criminal enforcement policy has undergone a significant transformation. Firms that commit crimes are no longer simply required to pay fines. Instead, prosecutors and firms enter into pretrial diversion agreements (PDAs). Prosecutors regularly use PDAs to...