# kaal:claim:1908473-019

**Claim.** Mandatory contingent capital issuance requires the creation of a new market, and market creation takes time: the European hybrid market established in 1997 needed five years to reach critical mass.

**Type.** empirical  **Support.** evidenced

**Source quote.**

> Market creation will take time. For instance, the European hybrid market, established in 1997, took five years to gain critical mass.

**From.** Wulf A. Kaal, Christoph Henkel, *Contingent Capital with Sequential Triggers* (2011), II.B. Limitations and Open Issues, page 23

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

**Verify.** sha256 of source PDF `9d578dac663357529edd1f6453fcfe69bdc59ac882408d9edfde5a4c2916befa` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20and%20Henkel%20-%202011%20-%20Contingent%20Capital%20with%20Sequential%20Triggers.pdf

**Topics.** economics

**Keywords.** market-formation, ccs-market, issuance, european-union

**Related claims.**

- extended_by: https://wulfkaal.github.io/claims/2061166-028

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.