UK Building Societies: ‘Deregulation’ change myths

Graham Tayler

The Service Industries Journal, 2005, vol. 25, issue 6, 825-843

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.

Date: 2005
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DOI: 10.1080/02642060500103381

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