. Approaches based on equity dominate alternatives, including contingent capital. To achieve better capitalization quickly and …

regime-switching approaches, quantitative evaluation of contingent capital and its applications, high quantiles estimation …

regime-switching approaches, quantitative evaluation of contingent capital and its applications, high quantiles estimation …

costs. Approaches based on equity dominate alternatives, including contingent capital. To achieve better capitalization …

regime-switching approaches, quantitative evaluation of contingent capital and its applications, high quantiles estimation …

forms of contingent capital …

regime-switching approaches, quantitative evaluation of contingent capital and its applications, high quantiles estimation …

a company issuing a particular type of hybrid security: perpetual contingent capital, i.e., debt that converts into … contingent capital is analyzed. We investigate the instrument under different conversion rules: automatic or optimally chosen by … equity holders. We show that contingent capital reduces the coupon of straight debt and expected bankruptcy costs but can …