Keywords
banking and insurance; corporate governance; financial holding company; remuneration policy; quality index of the remuneration policy
Abstract
This study seeks to examine the quality of the remuneration policy (RP) and identify its main determinants within a financial holding company (FHC) – the UniCredit Group. The results show that the quality of remuneration policy in the examined FHC was low. Although the dominant bank is characterized by high remuneration policy standards, the rest of the group is not. The empirical approaches used show that remuneration policy quality was positively related to the size of the bank and the transparency index of the remuneration policy, but negatively affected by the selected corporate governance determinants.
Recommended Citation
Wieczorek, A., & Szymańska, A. (2024). What determines the quality of remuneration policy in financial holding companies? An analysis based on the example of the UniCredit Group. Journal of Banking and Financial Economics, 2022(17), 74-97. https://doi.org/10.7172/2353-6845.jbfe.2022.1.5
First Page
74
Last Page
97
Page Count
24
Received Date
9 May 2022
Revised Date
23 August 2022
Accept Date
26 August 2022
Online Available Date
21 September 2022
DOI
10.7172/2353-6845.jbfe.2022.1.5
JEL Code
G2; G34; G38
Publisher
University of Warsaw