Summary of the investors' responses on the impact of the AC independence on their investment decisions
| Questionnaire items–AC independence | Average response out of 5 |
|---|---|
| It is important to our investment decision that the AC of the investee's company has nonrelated members | 4 |
| Our investment decision is affected positively by the existence of nonexecutive directors in the AC of the investee company | 3.2 |
| Our investment decision is affected positively by the absence of the social connection between the AC members and the management | 3.8 |
| Our investment decision is affected positively by the absence of the professional connection between the AC members and the management | 3.76 |
| It is important to our investment decision that the AC of the investee company is financially independent | 3.97 |
| It is important to our investment decision that AC members do not have any financial interest in the investee company | 3.77 |
| It is important to our investment decision that the AC of the investee company includes only independent members | 3.91 |
| Overall average: 3.78 | |
| Questionnaire items–AC independence | Average response out of 5 |
|---|---|
| It is important to our investment decision that the AC of the investee's company has nonrelated members | 4 |
| Our investment decision is affected positively by the existence of nonexecutive directors in the AC of the investee company | 3.2 |
| Our investment decision is affected positively by the absence of the social connection between the AC members and the management | 3.8 |
| Our investment decision is affected positively by the absence of the professional connection between the AC members and the management | 3.76 |
| It is important to our investment decision that the AC of the investee company is financially independent | 3.97 |
| It is important to our investment decision that AC members do not have any financial interest in the investee company | 3.77 |
| It is important to our investment decision that the AC of the investee company includes only independent members | 3.91 |
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