I. Firm Organizations Truly Matter! : Evolution of Modern Corporations

II. What Is Holding Company System?

III. What Are the Merits of Holding Companies?
1. Separation of Strategic and Operating Decisions
2. Fundamental Change in Manager's Behaviors
3. Focus on Corporate Governance
4. Easiness in Labor and Wage Management and Keeping-up of Corporate Culture
5. Entry into New Business areas
6. Separation of Risk
7. Optimal Size Attainment
8. Easy Reorganization
9. Freedom in Cash Flow

IV. Regulations on Holding Companies
1. United States
2. European Countries
3. South Korea
4. Japan

V. Holding Company Cases
1. America
2. Europe
3. Japan
4. South Korea

VI. How to Shift to a Holding Company Structure
1. Decomposition of Homogeneous Group
2. Composition of Heterogeneous Group

VII. Public Policy Issues
1. Antitrust Issues
2. Other Issues

VIII. Conclusion : Power Creation from Organizational Innovations

References