C的知识点在哪里

问题如下：

Successful investor engagement tends to have the most positive impact:

选项：

A.on restructuring and financial policies. B.on changes to remuneration policies. C.within six months of the initial engagement contact.

解释：

CFA协会2024年4月2日官方勘误：将选项A. On abnormal financial returns替换为A. On restructuring and financial policies. 即该题修改为：

Successful investor engagement tends to have the most positive impact: (课后题#2)

A. On restructuring and financial policies.

B. On changes to remuneration policies.

C. Within six months of the initial engagement contact.

Correct Answer: A

One of the earliest articles to provide a detailed academic analysis of engagement impact is “Returns to Shareholder Activism: Evidence from a Clinical Study of the Hermes UK Focus Fund" (Becht et al. 2006), which looked at the early years of the Hermes Focus Fund business (launched in late 1998) and considered the first 41 investments by the fund. The authors studied the internal records of Focus Fund team activities and considered their impact in terms of delivering both change at the companies in question and returns for the investors. To assess this, the authors sought to identify engagement success by analyzing the objectives that were set for each engagement at the start. They found that most of the stated objectives were achieved, with a 65% success rate overall, with the greatest success in restructuring and financial policies and slightly less success with regard to board change.

最早提供参与影响详细学术分析的文章之一是《股东激活回报：来自Hermes UK Focus Fund临床研究的证据》（Becht等，2006年），该研究回顾了Hermes Focus Fund业务的早期年份（于1998年末启动），并考察了该基金的前41项投资。作者研究了Focus Fund团队活动的内部记录，并考虑了这些活动在实现公司变革和为投资者带来回报方面的影响。为了评估这一点，作者试图通过分析每次参与开始时设定的目标来识别参与成功。他们发现，大部分明确的目标都已实现，总体成功率为65%，在重组和财务政策方面取得了最大的成功，而在董事会变动方面的成功略少。详见教材第358页。