Conversion, Performance and Executive Compensation in UK Building Societies

Radha K. Shiwakoti, john k. Ashton () and Kevin Keasey
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Radha K. Shiwakoti: University of Kent
Kevin Keasey: Leeds University Business School

Corporate Governance: An International Review, 2004, vol. 12, issue 3, pages 361-370

Abstract: 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. Copyright Blackwell Publishing Ltd. 2004.

Date: 2004

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