kaal:claim:2097160-024

Before conversion, executives holding securities with long-term maturities and coupon payments have incentives to manage the company with debt-holders' interests in mind.

Source quote, verbatim

Because executives would be holding securities with long-term maturities and coupon payments, executives would have incentives to manage the company with the interests of debt-holders in mind.184

From

Wulf A. Kaal, Contingent Capital in Executive Compensation (2012), V.B.2 The Benefits of Early Triggers, p. 46
https://ssrn.com/abstract=2097160 · source PDF

Cite as

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

Holds when

before any conversion into equity
strength depends on the proportion of debt in the package

Classification

mechanismsupport: arguedai-and-agents

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