Some scholars have posited that mutual banks have fewer incentives to engage in excessive risk-taking than joint-stock banks because of the unique structure of property rights in the mutual firm.  This paper uses their theory as a framework to explain the divergent risk-taking behavior of...

Formed in the mid-nineteenth century, the building soceities grew rapidly from their humble beginnings as localised 'self-help' organisations to become the dominant player in the house mortgage market by the inter-war period.  Throughout the nineteenth and early twentieth centuries, the...

Data from two different primary sources were used to construct indices of house prices (HPI) and rents (RRPI) of residential property located in London and the Home Counties between 1895 and 1939.  The indices were derived using the hedonics method of price index measurement, which extracts the...

Formed in the mid-nineteenth century, the building societies grew rapidly from their humble beginnings as localised ‘self-help’ organisations to become the dominant player in the house mortgage market by the inter-war period. Throughout the nineteenth and early twentieth centuries, the...

Some scholars have posited that mutual banks have fewer incentives to engage in excessive risk-taking than joint-stock banks because of the unique structure of property rights in the mutual firm. This paper uses their theory as a framework to explain the divergent risk-taking behavior of...