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Corruption in the international business: comparison between China and France

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  1. Introduction
  2. Presentation of the group
  3. Sectors
    1. Wines & Spirits
    2. Fashion & Leather Goods
    3. Perfume & Cosmetics
    4. Watches & Jewelry
    5. Selective distribution
  4. Turnover
  5. Number of employees
  6. LVMH stock exchange
  7. Capital Structure
  8. Financial Communications
  9. Corporate Governance
    1. Board of Directors
    2. Control Board
    3. The Executive Committee
    4. The Performance of the Audit Committee Performance
    5. The selection committee of directors and their compensation
    6. Compensation
  10. Financial Policy
    1. Statement of its policy of investment and disinvestment
    2. Implicit communication the policy of wealth redistribution
    3. Dividend policy
    4. Policy buyback
  11. Communication on social and environmental responsibility: valuation tool title
  12. Respect for the environment and sustainable development
  13. Social responsibility
  14. The humanitarian and public health initiatives
  15. The communications media and targets
    1. LVMH.com
    2. The Shareholders' Club
    3. Annual Report and Reference Document
    4. The Annual Report
    5. The Reference Paper
    6. Comparison of two media
  16. LVMH and the media
    1. TV
    2. The newspapers
  17. Conclusion

Corruption is a reality that is undeniable. It took on an unprecedented scale since the Second World War, and has almost become a routine. It is a practice followed in order to obtain economic benefits. China and France have laws to punish this kind of crime. However, it appears that the phenomenon is more serious in China.

In recent years, in France, there were about 400 cases per year of prosecution as against more than 30,000 cases in China. Corruption leads to imbalances in national economies and international trade relations. Agreements against corruption are primarily the major causes of the weak system of international cooperation. It leads to lack of transparency in the financial system and the differences in development between countries.

The definition of each national law includes to a greater or lesser degree all the "officials". One can define a public official as a person to exercise functions of government (eg public service employees, members of parliament, government, judges etc.). In most national legal systems, it is not necessary that the public official has actually received the benefit for the offense shall be deemed used. Just that the benefit was sought or the promise of a benefit has been accepted. In almost all countries, the "bribe" can either be material or immaterial.

The penalties for corruption and bribery are imprisonment or fines. One possible consequence of passive bribery in most national codes is the loss of public office. It may also lead to other legal effects. In most cases, the bribe or the corresponding financial benefit may be confiscated. In most national codes (eg France, China, Germany), corruption in the private sector is a misdemeanor punishable and punishment of an act of passive corruption committed by staff of economic enterprises is expected.The definition of the act uniting all elements of the offense is different depending on the country.

The penalties for bribery are imprisonment or fines. Repressions provided for active bribery and passive bribery in the private sector are often the same, and the penalties are often lower than the sanctions against the corruption of public officials. The offense of influencing peddling is characterized by the fact that a person solicits or accepts a bribe in exchange for the promises to exert influence on officers of a public service. The crime of trading in influence presupposes upstream of the corrupt relationship between three parties. In most countries, trafficking in influence is not punishable.

Breach of trust is the malpractice which consists of a breach of obligations under the management of property of third parties in conjunction with damage to property entrusted. In some countries (France), the penal provisions are however not applicable to public officials. Abuse of authority (by a public official) is a misdemeanor that is punishable. The conditions defining the elements of this crime are different in different countries. For example in China, it is necessary that the transgression causes damage to the act and is punishable. Diversion in the public sector, money laundering, unlawful restraint of free competition and so on are also punishable.

Tags: Corruption in public and private sector; corruption in international business; comparison between France and China

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