In the context of corporate governance,the U.K.and U.S.systems have been termed insider systems because ownership tends to be much more concentrated,with shares often being owned by holding companies,families,or banks.

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In the context of corporate governance, the U.K. and U.S. systems have been termed outsider systems because of dispersed ownership of corporate equity among a large number of outside investors. Historically, although institutional investor ownership was predominant, institutions generally did not hold large shares in any given company; hence, they had limited direct control.

In the Context of Corporate Governance,the U