NO.PZ2022120703000049
问题如下：
Which of the following would be considered the most effective form of investor engagement?
选项：
A.Initiating a dialogue with the investee company following a share price fall
B.Highlighting concerns about long-term key issues to non-executive directors of the investee company
C.Requesting information on specific governance, social or environmental issues from the investee company
解释：
B is correct because "engagement dialogues are conversations between investors and any level of the investee entity (including non-executive directors) featuring a two-way sharing of perspectives, such that the investors express their position on key issues, and in particular, highlight any concerns that they may have." In addition, engagement is "set in a context of long-term ownership and focus on long-term value preservation and creation, so that engagement is aligned with investment thesis."
A is incorrect because "very often, a desire to engage arises from a share price fall. Active fund managers may then become concerned about issues that may have been apparent for a time but which may have been ignored as the performance was positive. Experience tends to show that such knee-jerk engagement is less likely to be effective than long-standing consistent messaging (where intensity may increase at moments of difficulty, but do not just begin at those moments)."
C is incorrect because investors seeking insights is part of a monitoring dialogue and not an engagement dialogue. Monitoring is "typified by … detailed and specific questioning; investors seeking insights." In addition, "two-way dialogue and expression of clear positions is necessary for engagement to deliver on its intended outcomes, of changed company behaviors and so on."
如题。。。。。。。。。。。。。。
