Shiwakoti, R.K. and Keasey, Kevin and Hudson, Robert (2008) Comparative Performance of UK Building Societies and Stock Retail Banks: Further Evidence. Accounting and Finance, 48 (2). pp. 319-336. ISSN 0810-5391 .
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The purpose of this paper is to extend the literature on the comparative performance of mutual and stock retail banks by examining a unique episode in the history of financial services; namely, when four of the largest UK building societies (accounting for approximately 60 per cent of the industry's assets) demutualized to public limited company status in 1997. The episode allows us to consider the relative performance of the same businesses under different organizational forms. The results contrast starkly with previous findings and cast doubt on the hypothesis that mutuals generally outperform stock retail banks and indeed the idea that mutuals can be regarded as a homogeneous group of institutions.
|Uncontrolled keywords:||building societies; banks; demutualization; performance|
|Subjects:||H Social Sciences > HG Finance|
|Divisions:||Faculties > Social Sciences > Kent Business School|
|Depositing User:||Radha Shiwakoti|
|Date Deposited:||18 Mar 2009 17:58|
|Last Modified:||14 Jan 2010 14:37|
|Resource URI:||http://kar.kent.ac.uk/id/eprint/9854 (The current URI for this page, for reference purposes)|
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