Scientific Online Resource System

Izvestia Journal of the Union of Scientists - Varna. Economic Sciences Series

About another apple of discord - the gender pay gap amongst the top management of the banks

Aleksandrina Pancheva

Abstract

The studies about the lack of women in boards of financial institutions often cover the "glass limitations", the built stereotypes, the man's world of the bankers, etc. This problem directly correlates to another one - the gender pay gap. The intensification of the conflict between men and women about the pays or the financial bonuses is still an ongoing issue, with big financial conglomerates announce over 40% difference in favour of the men. And even though gender discrimination at hiring and pays is illegal, and there are lots of regulations on this matter, the women face both problems in the upper echelons.In attempt to disprove their "lower value", women look for a way to have a fair appraisal for their work - a chance to reach the top levels (not based on the quotas rules) and narrow the pay gap between them and the men. Is the Theory of the Human Capital valid nowadays? Are there antitheses or at least partial evidence to confute the allegation that women do not posses enough knowledge, skills and experience?

Keywords

Human capital theory, gender pay gap, banking, board

Full Text


References

Ahmad, N., Anuar Nawawi, Ahmad Saiful Azlin Puteh Salin (2016). The relationship between human capital and directors’ remuneration of malaysian public listed companies, International Journal of Business and Society, Vol. 17 No. 2, 2016, 347-364, http://www.ijbs.unimas.my/images/repository/pdf/Vol17-no2-paper11.pdf

Becker, G. (1985). Human capital, Effort and the sexual Division Labour. Journal of Labour Economics, Vol 3, No 5, 1985, p. 33-58

Becker, G. (1993). Nobel lecture: The Economic Way of Looking at Behavior. Journal of Political Economy, 101 (3), 1993, p. 385-409.

Becker, G. S. (1964). Human capital: A theoretical and empirical analysis, with special reference to education. New York: National Bureau of Economic Research.

Board of Directors (2017), https://www.unicreditgroup.eu/en/governance/board-of-directors.html; Corporate governance report Unicredit Group, 2017.

Bowlus, A., Chris Robinson (2017). The Evolution of the Human Capital of Women. Centre for Human Capital and Productivity. CHCP Working Papers, 2017-10. London, ON: Department of Economics, University of Western Ontario, https://ir.lib.uwo.ca/cgi/viewcontent.cgi?article=1140&context=economicscibc.

CHAPTER 1 The Basic Theory of Human Capital, https://econ.lse.ac.uk/staff/spischke/ec533/Acemoglu%20Autor%20chapter%201.pdf, р.6-7.

Civil Rights Act of 1991, https://employment.findlaw.com/employment-discrimination/civil-rights-act-of-1991.html

COUNCIL RECOMMENDATION of 13 December 1984 on the promotion of positive action for women (84/635/EEC) (1984), http://eur-lex.europa.eu/legal-content/EN/TXT/HTML/?uri=CELEX:31984H0635&from=BG.

COUNCIL RESOLUTION of 12 July 1982 on the promotion of equal opportunities for women (1982), http://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELEX:31982Y0721(02)&from=EN.

Country report Gender equality How are EU rules transposed into national law? (2015), http://ec.europa.eu/justice/gender-equality/files/ge_country_reports_d1/2015-it-country_report_ge_final.pdf;

Decent work and the 2030 agenda for sustainable development (2016). International Labour Organization, https://www.ilo.org/wcmsp5/groups/public/---dgreports/---dcomm/documents/publication/wcms_436923.pdf.

Equal Remuneration Convention 1951 (No. 100) (1951). Adoption: Geneva, 34th ILC session (29 Jun 1951) - Status: Up-to-date instrument (Fundamental Convention), https://www.ilo.org/dyn/normlex/en/f?p=NORMLEXPUB:12100:0::NO::P12100_ILO_CODE:C100.

Firestone, J., M. Richard J. Harris, Linda C. Lambert Gender Role (1999). Ideology and the Gender Based Differences in Earnings, Journal of Family and Economic Issues, Vol. 20(2), Summer 1999, https://link.springer.com/article/10.1023/A:1022158811154.

Hoobler, J., Grace Lemmon, Sandy J. Wayne (2011). Women’s underrepresentation in upper management: New insights on a persistent problem, Organizational Dynamics, 151—156, https://pdfs.semanticscholar.org/5c56/b40d48f0b32831a07d6f2f2de1e983a182aa.pdf.

Human Capital (2017). https://www.unicreditgroup.eu/content/dam/unicreditgroup-eu/documents/en/sustainability/sustainability-reports/2017/Singlechapters/UC_IR_ENG2017_our_human_cap_ENG.pdf

Italian Law no. 120 dated 12 July 2011 (Art. 147-ter of the Consolidated Finance Act -TUF).

KPMG (2016). She’s Price(d)less - The economics of the gender pay gap, https://www.wgea.gov.au/sites/default/files/gender-pay-gap-economics-full-report.pdf,

Mincer, J., Solomon Polachek (1974). Family Investments in Human Capital: Earnings of Women, Journal of Political Economy 82(2), Part II, April 1974, https://www.nber.org/chapters/c3685.pdf.

Pasban, M., Sadegheh Hosseinzadeh Nojedeh (2016). A Review of the Role of Human Capital in the Organization, Social and Behavioral Sciences 230 ( 2016 ) 249 – 253, https://ac.els-cdn.com/S1877042816311338/1-s2.0-S1877042816311338-main.pdf?_tid=ac859262-4cf1-4762-92ee-c6f3a7ba3a6d&acdnat=1539886158_445fcbf88b2dfc4fd3b151ed3e4445b9.

Rubery, J., Aristea Koukiadaki (2016). Closing the gender pay gap: A review of the issues, policy mechanisms and international evidence, International Labour Organization, https://www.ilo.org/wcmsp5/groups/public/---dgreports/---gender/documents/publication/wcms_540889.pdf, р.IX

Schultz, T. (1961). Investment in human capital. The American Economic Review, 51(1), 1-17, http://www.jstor.org/stable/1818907, р.8.

Strategic engagement for gender equality 2016-2019 (2016), http://ec.europa.eu/justice/gender-equality/document/files/strategic_engagement_en.pdf.

Strategy for equality between women and men 2010-2015 (COM(2010) 491) (2010), http://ec.europa.eu/justice/gender-equality/files/documents/strategy_equality_women_men_en.pdf.

The Equal Pay Act of 1963 (1963), https://www.eeoc.gov/laws/statutes/epa.cfm.

Title VII of the Civil Rights Act of 1964 (1964), https://www.eeoc.gov/laws/statutes/titlevii.cfm.

UniCredit (2017) Consolidated Reports and Accounts, р. 25, https://www.unicreditgroup.eu/content/dam/unicreditgroup-eu/documents/en/investors/financial-reports/2017/4Q17/2017-Consolidated-Reports-and-Accounts.pdf .

Директива 2006/54/ЕО на Европейския парламент и на Съвета от 5 юли 2006 година за прилагането на принципа на равните възможности и равното третиране на мъжете и жените в областта на заетостта и професиите (2006), https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=celex:32006L0054

Директива на Съвета от 9 февруари 1976 година относно прилагането на принципа на равното третиране на мъжете и жените по отношение на достъпа до заетост, професионалната квалификация и развитие, и на условията на труд (1976), https://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX:31976L0207.

Директива на Съвета от 10 февруари 1975 година за сближаване на законодателствата на държавите членки относно прилагането на принципа за равно заплащане на мъжете и жените (75/117/ЕИО) (1975), http://eur-lex.europa.eu/legal-content/BG/TXT/?uri=celex%3A31975L0117.

Договор за Европейския Съюз и на Договор за функционирането на Европейския Съюз, 2012/C 326/01, http://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX%3A12012E%2FTXT.

Европейски пакт за равенство между половете (2011—2020 г.) (2011), http://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX%3A52011XG0525%2801%29.

Предложение за ДИРЕКТИВА НА ЕВРОПЕЙСКИЯ ПАРЛАМЕНТ И НА СЪВЕТА за подобряване на баланса между половете сред директорите без изпълнителни функции на дружествата, допуснати до борсова търговия, и свързани с това мерки (2012), http://eur-lex.europa.eu/legal-content/BG/TXT/?uri=CELEX%3A52012PC0614.

Харта на основните права на Европейския Съюз 2012/C 326/02 (2012), http://eur-lex.europa.eu/legal-content/BG/TXT/?uri=celex%3A12012P%2FTXT.


Refbacks

Font Size


|