# kaal:claim:3409548-038

**Claim.** Large managers will begin innovating only once the long-term benefits of the technologies exceed their implementation cost, and because that cost is much larger for large managers than for the smaller managers currently experimenting, the threshold for change is higher for them.

**Type.** condition  **Support.** argued

**Holds when.**

- larger fund managers facing higher implementation costs than smaller rivals

**Source quote.**

> If and when the long- term benefits of using the technologies exceed the implementation cost, which are much larger for larger managers than for the smaller managers who are currently experimenting with such technologies, larger managers are incentivized to start the innovation process as well.

**From.** Kaal, *Financial Technology and Hedge Funds* (2019), III.6 Competitive Pressure, page 33

**Cite as.** Kaal, Financial Technology and Hedge Funds (2019). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3409548

**Verify.** sha256 of source PDF `74227ab2656b06bfe4a29c942fc2ba26df9f476917e0a9f85ec038b8c3402c40` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Financial%20Technology%20and%20Hedge%20Funds.pdf

**Topics.** innovation

**Keywords.** implementation-cost, innovation-threshold, large-managers, competitive-pressure, adoption

**Related claims.**

- restates: https://wulfkaal.github.io/claims/2998033-026
- restates: https://wulfkaal.github.io/claims/3002908-024
- extends: https://wulfkaal.github.io/claims/2959730-027

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