Questionnaire for shareholder activism

For Directors
Name: ______________________

Company: ____________________

Experience as a director: ______________________

Presently on how many companies (listed) board you serve as a director? _____

Q.1 Who is the small shareholder?

a. The one who holds shares worth Rs. 20,000/- @ market value 
b. The one who holds shares up to Rs. 20,000/- @ face value 
c. The one who is in minority 
d. The one who is a trader 
e. Any other, please specify _______________________________________________

Q.2 What is the objective of corporate governance of your company?

a. Shareholder Wealth Maximization 

b. Stakeholder Value Maximization 

c. Corporate Value Maximization 
d. Any other Please Specify ___________________

Q.3 Do you think small shareholders have substantial power to elect

directors?
Yes  No 

Q.4 Has any small shareholder/group of small shareholders nominated

any director on the board of your company/ companies?
Yes  No 

Q.5 How many total directors are their on your company’s board?
_______________

Q.6 How many outside independent directors are their on your

company’s board? _________

Q.7 How long the AGM of your company lasts?

a. Less than ½ hours 
b. 1-2 hours 
c. 2-4 hours 
d. More than 4 hours 
e. Any other, please specify 

Q.8 (a) Did any time any small shareholder raised any question in
the AGM on the decisions of the board? Yes 
No 
(b) If yes, what was/ were the issue/s
i. CEO compensation 
ii. Board members’ compensation 
iii. Board members’ performance 
iv. Fund utilisation 
v. Any other, please specify ____________________________________
Q.8) What are your suggestions to channelize shareholder activism?
(a) By conducting meetings 
(b) Blogging 
(c) Press campaigns 
(d) Naming and shaming  
(e) Putting forward shareholder resolution in AGM 
(f) If any other, please specify………………………….

Q.9 (a) Do you think Shareholders Activism can really help in

improvement of Corporate Governance of companies?
Yes No 
(b) If ‘yes’, How?
______________________________________________________
__________________________________________________
____
__________________________________________________
____

******* Thank you *******

 Questionnaire for shareholder activism

For investors
Name: ___________________ Basic Qualification:
__________________

Q.1 Since how many years you are investing/ trading:

_____________________
Q.2 How many companies’ shares do you own?
(a) One 
(b) Two 
(c) Three 
(d) More than three Please Specify numbers ___________

Q.3 (a) Have you ever attended any AGM? Yes  No 
(b) If yes, then which company?
______________________________________________
(c) If no then state reasons
________________________________________________

________________________________________________
Q.4 Do you receive annual reports regularly? Yes  No 
If no, state reasons________________________________________________________
_____________________________________________________
___
Q.5 If yes, do you read it? Yes No 
Q.6 Do you think management provides the correct information in
annual report?
Yes  No 
Q.7 Do you think Profit & Loss account given in annual report carry
the truth?
Yes  No 
Q.8 What are the reasons for your investment in any company? (Give
score out of 5 to each aspect)
(a) Believe in promoters of the company _________
(b) Controlling management profile _________
(c) Long term fundamentals of company _________
(d) Short term gains _________
(e) Any other, then please specify __________________________________
Q.9 Who do you think will be better agency to question the controlling
shareholders/ management?
(a) Another competitive major Shareholder 
(b) Financial Institutions 
(c) Regulatory bodies/ Government 
(d) Employees of the company 
(e) Small shareholders 
(f) Any other, please specify _______________________________________
Q.10 What are main problems you suffered while investing in company?
(Give score out of 5 to each aspect)
(a) Irregularity in share transfer __________
(b) Non payment of dividends __________
(c) Not receiving dividend __________
(d) Management frauds __________
(e) Ineffectiveness of board of directors __________
(f) Any other, please specify _______________________________________
Q.11 What you do in case you feel dissatisfied on above accounts?
(a) Raise Voice 
(b) Sell shares 
(c) Hold the shares 
(d) Any other, please specify ____________________
Q.12 Who is the small shareholder?
a. The one who holds shares worth Rs. 20,000/- @ market value 
b. The one who holds shares up to Rs. 20,000/- @ face value 
c. The one who is in minority 
d. The one who is a trader 
e. Any other, please specify _______________________________________________
Q.13 Are you aware of your right to nominate the director? Yes 
No 
Q.14 Do you know about the shareholder activism? Yes
 No 
Q.15 (a) Did you ever come across any active shareholder for corporate
governance?
Yes  No 
(b) If yes, specify the name _____________________
Q.16 What do you understand by shareholder activism?
(a) Action taken by small shareholders to improve the governance of
company 
(b) To go against management for any reason whatsoever 
(c) Ensuring fair treatment for all shareholders

(d) Taking steps to raise company value over a period of time

(e) Raising voice to ensure shareholder wealth maximization

(f) Any other, please specify _____________________________________________
Q.17 Who can be a shareholder activist according to you?
(a) Any individual shareholder 
(b) Agency/association for small shareholders 
(c) Media 
(d) Any other, then please specify ______________________
Q.18 What are your suggestions to channelize shareholder activism?
(a) By conducting meetings 
(b) Blogging 
(c) Press campaigns 
(d) Naming and shaming 
 (e) Small shareholders can nominate their representatives on the board

(f) If any other, please specify………………………….
Q.19 (a) Do you think Shareholders Activism can really help in
improvement of Corporate Governance of companies? Yes
No 
(b) If ‘yes’, How?
______________________________________________________
__________________________________________________
____
__________________________________________________
____

******* Thank you *******

 Questionnaire for shareholder activism

For VSE
Name:
________________________________________________________________

Designation : ___________________________________________________________

Q.1 Who is the small shareholder?

a. The one who holds shares worth Rs. 20,000/- @ market value 
b. The one who holds shares up to Rs. 20,000/- @ face value 
c. The one who is in minority 
d. The one who is a trader 
e. Any other, please specify _______________________________________________
Q.2 Do you know about the shareholder activism?
Yes No 
Q.3 Do you think small shareholders are aware of their right to
nominate directors?
Yes No 
Q.4 (a) Are you aware of any incidence where small shareholders
nominated director/independent director? Yes  No

(b) If yes, which company/ companies? ______________________
Q.5 Who do you think will be a better agency to question the
controlling shareholder?
a. Shareholder 
b. Manager 
c. Financial institutions 
d. Regulatory body 
e. Employees of the company 
f. Small shareholders 
g. Any other please specify __________________________
Q.6 (a) Have you ever seen any active shareholder for improving
corporate governance of companies? Yes
No 
(b) If yes then specify name and
incidence___________________________________________
Q.7 What does VSE do for Investor Education and Protection?
___________________________
___________________________________________________________________________
___________________________________________________________________________
Q.8 What are your suggestions to channelize shareholder activism?
(a) By conducting meetings 
(b) Blogging 
(c) Press campaigns 
(d) Naming and shaming  
(e) Putting forward shareholder resolution in AGM 
(f) If any other, please specify………………………….
Q.9 Do you think Shareholders Activism can really help in
improvement of Corporate Governance of companies? Yes
No 
Q. 10 If ‘yes’, How?
______________________________________________________
__________________________________________________
____
__________________________________________________
____
******* Thank you *******