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Comparative performance of UK mutual building societies and stock retail banks: further evidence: a comment

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  • Batiz-Lazo, Bernardo
  • Billings, Mark

Abstract

Shiwakoti et al. (2008) concluded that four of the largest UK mutual societies which converted to listed bank status in 1997 outperformed, on a variety of measures, those societies which did not convert in the four-year periods both before and after conversion. All four converting societies have since been subject to ownership change, suggesting that this out-performance failed to persist, or was perhaps illusory. We do not criticise the results obtained by the authors, but suggest that they leave unanswered important questions, such as how to measure ‘superior’ performance and the appropriate time frame over which to evaluate this.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 21171.

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Date of creation: 2009
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Handle: RePEc:pra:mprapa:21171

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Keywords: Building societies; Banks; Demutualization; Performance; UK;

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  1. Radha K. Shiwakoti & John K. Ashton & Kevin Keasey, 2004. "Conversion, Performance and Executive Compensation in UK Building Societies," Corporate Governance: An International Review, Wiley Blackwell, Wiley Blackwell, vol. 12(3), pages 361-370, 07.
  2. Thompson, Steve, 1997. "Takeover activity among financial mutuals: An analysis of target characteristics," Journal of Banking & Finance, Elsevier, Elsevier, vol. 21(1), pages 37-53, January.
  3. Radha K. Shiwakoti & Kevin Keasey & Robert Hudson, 2008. "Comparative performance of UK mutual building societies and stock retail banks: further evidence," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, Accounting and Finance Association of Australia and New Zealand, vol. 48(2), pages 319-336.
  4. Valnek, Tomas, 1999. "The comparative performance of mutual building societies and stock retail banks," Journal of Banking & Finance, Elsevier, Elsevier, vol. 23(6), pages 925-938, June.
  5. Catherine Schrand & Haluk Unal, 1998. "Hedging and Coordinated Risk Management: Evidence from Thrift Conversions," Journal of Finance, American Finance Association, American Finance Association, vol. 53(3), pages 979-1013, 06.
  6. Haynes, Michelle & Thompson, Steve, 1999. "The productivity effects of bank mergers: Evidence from the UK building societies," Journal of Banking & Finance, Elsevier, Elsevier, vol. 23(5), pages 825-846, May.
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