Chapter 1 - the corporate governance systems in the UK and Australia Introduction The power structure in large companies Agency costs inherement in the corporate form of firm organization The monitoring environment Adequacy of present corporate governance systems Chapter 2 - the growth of institutional share ownership United Kingdom Australia Part II: institutional involvement in corporate governance in the UK: history and current level Chapter 3 - the participants in the UK Traditional institutions or fund managers? The trade associations and other collective-action vehicles Chapter 4 - areas of involvement in the UK Procedural and general issues Company-specific issues Conclusion Chapter 5 - manner of involvement in the UK Direct industry-wide monitoring Direct firm-level monitoring Indirect industry-wide monitoring Indirect firm-level monitoring Summary and conclusion Part III: institutional involvement in corporate governance in Australia: history and current level Chapter 6 - the participants in Australia The traditional institutions and the fund managers The collective action vehicle: the AIMA Chapter 7 - areas of involvement in Australia Procedural and general issues Company-specific political Conclusion Chapter 8 - manner of involvement in Australia Direct industry-wide monitoring Direct firm-level monitoring Indirect industry-wide monitoring Indirect firm-level monitoring Part IV: institutional involvement in corporate governance the potential Chapter 9: the desirability of increasy institutional monitoring Possible benefits from greater monitoring Possible problems with greater monitoring Conclusion Chapter 10 - the potential for increase institutional monitoring, without legal reform Direct and indirect industry-wide monitoring Direct firm-level monitoring Indirect firm-level monitoring Chapter 11: conclusion and suggested reforms Conclusion Recommended reforms