This important and timely new book examines the manner and extent of involvement by institutions in monitoring the performance of the executive management of "companies". Such monitoring of managerial performance fits within a broad framework of devices and market forces which operate to reduce the divergence between the interests of managers and shareholders in non-controlled "companies". Institutional intervention to change the management of companies has been confined to the most extreme cases of under-performance, sometimes combined with strong suspicion of misconduct on the part of the impugned managements. Apart from examining the situations in which institutional intervention is likely to take place and how it can be effected, this book also looks in considerable detail at the advantages and disadvantages of greater involvement by institutions. The whole work benefits from detailed comparative analysis of the position in Australia and the UK.