# kaal:claim:2097160-026

**Claim.** Path dependencies in United States executive compensation culture could make it difficult to lower overall executive pay or to add new design elements such as contingent convertible bonds.

**Type.** predictive  **Support.** argued

**Holds when.**

- United States executive compensation practice

**Source quote.**

> However, it is important to note that path dependencies in the executive compensation culture191 in the United States could make the lowering of overall compensation for executives and the addition of new design elements in executive compensation difficult.

**From.** Wulf A. Kaal, *Contingent Capital in Executive Compensation* (2012), V.B.2 The Benefits of Early Triggers, page 48

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

**Verify.** sha256 of source PDF `1e1f8aa246bce19f4658dbceb455c7c2a272aa5d63a9e9bdaa46a3a5a87680fc` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202012%20-%20Contingent%20Capital%20in%20Executive%20Compensation.pdf

**Failure mode.** Path dependence blocks compensation redesign  (family: incumbent-resistance-to-adoption)

**Topics.** corporate-governance

**Keywords.** path-dependence, executive-compensation, united-states, adoption-barriers

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