TY - JOUR

T1 - Conversion, Performance and Executive Compensation in UK Building Societies

AU - Shiwakoti, Radha

AU - Ashton, John

AU - Keasey, Kevin

PY - 2004/6/15

Y1 - 2004/6/15

N2 - Interest in the causes of the conversion of building societies from a mutual to a proprietary form of ownership has grown in recent years. In this study, one of a number of possible explanations underlying the conversion of building societies is examined; namely, the potential for directors to enhance their remuneration once plc status has been achieved. Empirical tests indicate that the large increases in remuneration for converted building society boards and chief executives are not justified in terms of company performance and may, indeed, have been a factor driving the conversion of building societies.

AB - Interest in the causes of the conversion of building societies from a mutual to a proprietary form of ownership has grown in recent years. In this study, one of a number of possible explanations underlying the conversion of building societies is examined; namely, the potential for directors to enhance their remuneration once plc status has been achieved. Empirical tests indicate that the large increases in remuneration for converted building society boards and chief executives are not justified in terms of company performance and may, indeed, have been a factor driving the conversion of building societies.

U2 - 10.1111/j.1467-8683.2004.00377.x

DO - 10.1111/j.1467-8683.2004.00377.x

M3 - Article

VL - 12

SP - 361

EP - 370

JO - Corporate Governance: An International Review

JF - Corporate Governance: An International Review

SN - 1467-8683

IS - 3

ER -