From the ongoing debate on the need to amend remuneration policies, two trends are emerging: one ethical, the other that considers the issue of incentives as a management tool that can influence operational efficiency. First of all, it is necessary to discuss the conditions that may enhance the...

Pay-based incentives are largely widespread among Italian banks.The national contract for bank personnel has confirmed that the incentive has the characteristics of a really variable pay component, in close relation with bank’s performance and with the remuneration of merit.

The recent ABI Report on the labour market in the financial industry shows that in Europe large banks have faced the need to cut the cost income ratio, aiming to reduce the branch network and distribution costs. In human resources management, the crisis has brought about a redefinition of...

A comparison between the trend of employee compensation according to the contractual wage scale and the compensation actually received shows a growing disparity that highlights how bank operating policies are increasingly aiming to the determination of the amounts actually paid on average to...

The financial crisis has highlighted the issue of compensation of managing directors. In Italy, the Central Bank has taken action to avoid banks’ crises in deep contrast with the high level of managers’ compensations. With specific rules the Bank of Italy has granted to the shareholders’...

The study focuses on the management fee structure of Italian listed and unlisted real estate investment trusts (Reits).The analysis illustrates how the management fee is typically calculated and investigates Reits’ management costs upon their operational and economic characteristics.The...

New evidence shows how bank wage systems are considering new governance rules, long-term based risk-adjusted performance measures, equity and liquidity conditions.

A better understanding of the information provided by credit ratings and their proper use allow more transparent and effective communication to investors and a better risks’ diversification. In this way ratings will be able to play a more effective predictive role

The literature that examines target prices issued by equity research analysts is vast, and the role of the analytical process and valuation model used to determine target prices has received growing attention by scholars. However, the specific evidence that indicates how professional analysts...

This paper analyzes the methods of rating attribution of the major international agencies (Moody’s, Fitch and Standard & Poor’s) between 2005 and 2010 for a sample of Italian and European listed banks and tests empirically, through the multivariate analysis of Ols, the possible relations of...