ABSTRACT
This chapter briefly indicates the function of market-oriented companies. It identifies the essential problem of ‘corporate governance’ and shows why it has become a matter of increasing concern. It points to the potentially damaging effects of undue managerial autonomy and to the limited efficacy and appropriateness of codes. Finally a set of proposals is made for legislative change to redress the balance of power in favour of owners (ie shareholders) and by the same token, of the ‘common weal’.
