kaal:claim:2097160-014

Regulatory triggers generate the highest level of uncertainty and can produce ad hoc regulatory decisions and adverse market responses, so they are not the best option for contingent convertible bonds in executive compensation.

Regulatory triggers may lead to market uncertainty and ad hoc decisions by regulators and result in adverse market responses. Because regulatory triggers generate the highest level of uncertainty,152 they may not be the best option

Wulf A. Kaal, Contingent Capital in Executive Compensation (2012), V.B.1 Automatic Institution-Specific Early Trigger, p. 36
https://ssrn.com/abstract=2097160 · source PDF

Wulf A. Kaal, Contingent Capital in Executive Compensation (2012). SSRN: https://ssrn.com/abstract=2097160

• triggers left to regulatory discretion

failuresupport: arguedfailure: Regulatory discretion trigger uncertaintyfamily: trigger-design-failurecontingent-capitaleconomics

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