kaal:claim:5454054-011

LER converts marketing expenditure into shareholder value by redirecting budgets from conventional advertising, whose returns are indirect and uncertain, into voucher rewards that flow directly to shareholders.

Source quote, verbatim
Instead of allocating budgets to conventional advertising campaigns with indirect or uncertain returns, in the LER system, companies can channel these resources into LER-based voucher rewards that directly benefit shareholders.
From

Wulf A. Kaal, Liquid Equity Rewards (2025), Benefits for Listed Companies, p. 13
https://ssrn.com/abstract=5454054 · source PDF

Cite as

Wulf A. Kaal, Liquid Equity Rewards (2025). SSRN: https://ssrn.com/abstract=5454054

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mechanismsupport: arguedeconomicscorporate-governance

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