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 "identifier": "kaal:entity:contingent-capital-limits",
 "name": "Contingent capital limits",
 "termCode": "contingent-capital-limits",
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 "author": {
  "@type": "Person",
  "name": "Wulf A. Kaal",
  "identifier": "https://orcid.org/0000-0003-0757-275X"
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1908473-010",
   "identifier": "kaal:claim:1908473-010",
   "text": "Contingent capital offers only limited protection against information asymmetries, principal and agent conflicts, and collective action problems, so it cannot by itself prevent economic failure.",
   "abstract": "Contingent capital can only limitedly protect against information asymmetries, principal/agent issues, and collective action problems.",
   "citation": "Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473",
   "datePublished": "2011",
   "claim_type": "failure",
   "confidence": "argued",
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  {
   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1908473-011",
   "identifier": "kaal:claim:1908473-011",
   "text": "Existing proposals for implementing contingent capital do not explain how they would address the information asymmetries and principal and agent problems that may lie at the core of the credit crisis.",
   "abstract": "Although contingent capital has many beneficial attributes, existing proposals for implementing contingent capital are unclear as to how they will address information asymmetries and principal/agent problems.",
   "citation": "Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473",
   "datePublished": "2011",
   "claim_type": "failure",
   "confidence": "argued",
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   "scope_conditions": [
    "Assumes information asymmetries and principal agent problems were central causes of the crisis"
   ],
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   "status": "current"
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   "@type": "Claim",
   "@id": "https://wulfkaal.github.io/claims/1908473-015",
   "identifier": "kaal:claim:1908473-015",
   "text": "Switching to contingent capital financing may reinforce rather than reduce risk incentives, and whether the risk incentives generated by contingent capital outweigh its risk reduction potential remains unresolved.",
   "abstract": "In effect, however, switching to CCS financing could reinforce risk incentives. Additional research may be needed to determine if risk incentives generated by CCS113 may outweigh their potential for risk reduction.",
   "citation": "Wulf A. Kaal, Christoph Henkel, Contingent Capital with Sequential Triggers (2011). SSRN: https://ssrn.com/abstract=1908473",
   "datePublished": "2011",
   "claim_type": "failure",
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   "scope_conditions": [
    "Turns on the design features of the securities and on how much control equity holders retain after conversion"
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 "description": "3 claims in the published works of Wulf A. Kaal carry the concept tag 'contingent-capital-limits'. Derived node: a roster, not an adjudicated definition."
}