In this important new study John Parkinson rejects the theory that the "internal affairs" of corporate organizations should be insulated from regulatory intervention and argues that a function of company law is to promote the public interest. He examines a number of topical and controversial issues from this perspective including the separation of ownership and control, corporate governance, and the role of markets in controlling management behavior. The book also explores the protection of interests largely ignored by company law such as those of employees and the local community and suggests new areas for reform.