Following privatisations in the 1980's, the UK financial industry embarked on a series of demutualisations, which developed into a global trend in the late 1990's. This structural shift has generated numerous debates in academic circles concerning various managerial issues of mutual versus stock...

The mutual versus plc debate has now branched out to include discussion of the potential benefits to consumers from alternative organisational forms. This paper investigates whether performance, risk and fee levels differ across mutual and plc ownership groups in the UK unit trust industry. To...

In the debate of the relative merits of differing ownership forms, most empirical studies examine either corporate performance or the product characteristics of the financial products that are available in the financial services industry. Based on the UK unit trust industry, this paper assesses...