kaal:claim:1908473-003

If conversion of contingent capital securities is triggered too early, before a real financial need for an equity injection exists, the expected financial impact of that injection may dissipate.

If conversion of CCS from debt into equity is triggered too early without a real financial need for an equity capital injection and additional voting shareholders, the expected financial impact of the equity capital injection may dissipate.

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011), I. INTRODUCTION, p. 11
https://ssrn.com/abstract=1908473 · source PDF

Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473

• Trigger fires absent genuine need for equity capital and additional voting shareholders

failuresupport: arguedfailure: premature-trigger-dissipationfamily: trigger-design-failurecontingent-capital

• restated_by kaal:claim:2061166-031 A trigger that fires too early wastes the equity injection: conversion occurs without a real need for capital ...
• extended_by kaal:claim:1998455-013 Converting contingent capital securities too late makes the capital injection superfluous, because by that sta...
• restated_by kaal:claim:1998455-012 Converting contingent capital securities prematurely, while the institution can still operate without an equit...

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