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UK Building Societies: ‘Deregulation’ change myths

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  • Graham Tayler

Abstract

An academic and official orthodoxy has it that late 1970s and 1980s UK Building Societies ‘deregulation’ (part of wider financial services/banking ‘deregulation’) foreshadowed great change in the nature of the industry and its markets and, so, in the task for management (change from stewardship to strategic management requiring greatly enhanced capability and from regulation protected marketplace, and permitted industry cartel, to open aggressive competition). In this article the orthodoxy is challenged and is exposed as being largely in the nature of myth through statements of building society finance directors in semi-structured interviews and financial data concerning the profitability nexus and markets.

Suggested Citation

  • Graham Tayler, 2005. "UK Building Societies: ‘Deregulation’ change myths," The Service Industries Journal, Taylor & Francis Journals, vol. 25(6), pages 825-843, September.
    • Handle: RePEc:taf:servic:v:25:y:2005:i:6:p:825-843
    DOI: 10.1080/02642060500103381
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    References listed on IDEAS

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    1. Valnek, Tomas, 1999. "The comparative performance of mutual building societies and stock retail banks," Journal of Banking & Finance, Elsevier, vol. 23(6), pages 925-938, June.
    2. Hilary Ingham & Steve Thompson, 1993. "Structural deregulation and market entry: the case of financial services," Fiscal Studies, Institute for Fiscal Studies, vol. 14(1), pages 1-15, February.
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