I had a conversation today with someone who has been doing some research on companies' experiences with investors. To cut a long story short, he said one or two were very positive about engagement with institutional shareholders, but the large majority were very dismissive.
For one, shareholders are actually a pretty diverse lot, with very different perspectives, so there's not one message/request for companies to respond to. Secondly, companies find that a lot of investors - even the large ones - aren't capable of having a particularly well-informed conversation. So basically, most companies aren't that bothered about more shareholder engagement. His conclusion from all this was that talk about ownership was a bit nonsensical.
No big surprises here to any regular readers, but interesting to hear the story from the company perspective, and more evidence that there is still a mountain to climb if the shareholder as owner thing is to be made to work.