Because both European regulatory initiatives and the United States academic debate concentrate on the technical design features of contingent capital securities, the possible corporate governance applications of those securities are mostly ignored.
Source quote, verbatim
Regulatory initiatives in Europe and the academic debate in the United States focus on improving the technical design fea- tures of contingent capital securities. Given the importance of technical design features, possible applications of CCS for corpo- rate governance are mostly ignored.
From
Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012), I. Introduction, p. 9 https://ssrn.com/abstract=1998455 · source PDF
Cite as
Wulf A. Kaal, Initial Reflections on the Possible Application of Contingent Capital in Corporate Governance (2012). SSRN: https://ssrn.com/abstract=1998455
Holds when
state of the debate as of 2012 in Europe and the United States
extended_bykaal:claim:2273857-058 Managers are incentivized to manage their institutions so as to avoid contingent capital triggers, and that in...
Verify
The quote above is an exact substring of the source PDF, whose sha256 is 1c16ff10a284469ba15fb7ba5523449b917388ee692d9b394f9e8c094544e32c. Extraction method: pdf-text-layer. Attestation record: colloquium/attestations/b2dd6ef30652ddd0...json Verify the binding yourself: curl -s https://wulfkaal.github.io/claims/1998455-004.md | sha256sum