On the author's numbers, initial LER costs of $5 to $10 million are outweighed by reduced activism volatility and tokenized market capture, giving a return on investment often exceeding two hundred percent over five years.
Source quote, verbatim
Quantitatively, while initial costs may reach $5–10 million, the projected savings from reduced activism volatility (15–25% net gains in market stability) and market capture in a $2 trillion tokenized ecosystem provide a favorable return on investment
Wulf A. Kaal, Liquid Equity Rewards in Corporate America (2025). SSRN: https://ssrn.com/abstract=5583610
Holds when
firms with robust technological infrastructure and proactive compliance
five year horizon
Classification
predictivesupport: arguedeconomics
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