Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Executive Compensation and Deregulation in UK Building Societies. / Ingham, Hilary; Thompson, Steve.
In: Accounting and Business Research, Vol. 23, No. sup1, 01.01.1993, p. 373-383.Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Executive Compensation and Deregulation in UK Building Societies
AU - Ingham, Hilary
AU - Thompson, Steve
PY - 1993/1/1
Y1 - 1993/1/1
N2 - Herein we examine executive compensation in UK building societies in two differing regulatory regimes: (a) in a weakly competitive environment, and (b) in conditions of increased competition. Our results show that the change in regulation did affect the manner in which CEOs in building societies were remunerated. In particular, when there is little external competition, profitability does not positively influence compensation. However, when this external competition increases, improvements in profitability lead to subsequent increases in CEO remuneration. Our work supports the contention that mutuality can be efficient when operating in a sufficiently competitive environment.
AB - Herein we examine executive compensation in UK building societies in two differing regulatory regimes: (a) in a weakly competitive environment, and (b) in conditions of increased competition. Our results show that the change in regulation did affect the manner in which CEOs in building societies were remunerated. In particular, when there is little external competition, profitability does not positively influence compensation. However, when this external competition increases, improvements in profitability lead to subsequent increases in CEO remuneration. Our work supports the contention that mutuality can be efficient when operating in a sufficiently competitive environment.
U2 - 10.1080/00014788.1993.9729905
DO - 10.1080/00014788.1993.9729905
M3 - Journal article
AN - SCOPUS:2342610783
VL - 23
SP - 373
EP - 383
JO - Accounting and Business Research
JF - Accounting and Business Research
SN - 0001-4788
IS - sup1
ER -