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What determines the quality of remuneration policy in financial holding companies? An analysis based on the example of the UniCredit Group

Author

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  • Agata Wieczorek

    (Department of Institutional Economics and Microeconomics, University of Lodz)

  • Agata Szymanska

    (Department of Macroeconomics, University of Lodz)

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.

Suggested Citation

  • Agata Wieczorek & Agata Szymanska, 2022. "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, University of Warsaw, Faculty of Management, vol. 1(17), pages 74-97, September.
    • Handle: RePEc:sgm:jbfeuw:v:1:y:2022:i:17:p:74-97
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    File URL: https://jbfe.wz.uw.edu.pl/resources/html/article/details?id=231798
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    More about this item

    Keywords

    banking and insurance; corporate governance; financial holding company; remuneration policy; quality index of the remuneration policy;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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