NO.PZ2024021801000039
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：
A. 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).
B. 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.
C. 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.
有点印象，但是在讲义里没找到