Duke University/CFO
Business Outlook Asia
Spring 2007

No individual firms are identified and only aggregate data are made public. Please respond by Thursday, May 31. If you have any questions about this survey, please contact us.

1. Are you more or less optimistic about your regional economy compared to last quarter?
More optimistic Less optimistic No change	Rate your optimism about your regional economy on a scale from 0-100, with 0 being the least optimistic and 100 being the most optimistic.	If your optimism about your regional economy has changed this quarter, why?

2. Are you more or less optimistic about the financial prospects for your company compared to last quarter?
More optimistic Less optimistic No change	Rate your optimism about the financial prospects for your own company on a scale from 0-100, with 0 being the least optimistic and 100 being the most optimistic.

3. What are the top three concerns your corporation faces? (rank #1, #2, #3)

   Cost of labor (wages, salaries, bonuses)
   Cost of fuel
   Cost of non-fuel commodities
   Health care costs
   Interest rates
   Regulation
   Political stability

   Skilled labor shortage
   Consumer demand
   Currency values
   Foreign competition
   Terrorism
   Other:

4. Relative to the previous 12 months, what will be your company's PERCENTAGE CHANGE during the next 12 months? (e.g., +3%, -2%, etc.) [Leave blank if not applicable]

   % Prices of your products
   % Productivity (output per hour worked)
   % Technology spending
   % Capital spending
   % Marketing/advertising spending
   % Number of domestic employees
   % Number of foreign/off-shore
                      outsourced employees
   % Wages/Salaries
   % Health care costs
   % Earnings

    M&A activity

   % Inventory
   % Cash on the balance sheet
   % Dividends
% Share repurchases

What key factors explain your repurchase decisions?

5. Which of the following are true for your company? (Check any that apply)

  We have operations in China
  We procure supplies from China
  We sell products to companies/consumers in China
  None of the above

6a. Is China's environmental pollution a concern for your business?

  Yes    ►
  No
  Unsure

6b. If yes, why?
  It affects our operations directly
  It creates unsafe conditions for our employees
  It makes it harder for us to attract overseas managers for our China operations
  The Chinese government's efforts to clean up the environment will impose costs on our business
  It will lead to higher healthcare costs for us
  Other

7a. Do you expect the recent surge in M&A activity to slow down in the next year? (Choose best answer)

No slow down, M&A will stay strong for at least one year
Yes slow down, but not until 2008 Yes slow down, but not until Fall 2007 Yes slow down, starting this summer

7b. If Yes, what will cause the M&A boom to weaken? [check all that apply]
  Best deals already done, so remaining deals less profitable
  Increase in interest rates
  Decrease in stock market
  Private equity will push up the price of targets to make acquisitions unattractive
  Increased regulatory oversight
  Weak economic growth
  Other:

8. Some lawmakers are calling for increased transparency of hedge funds' operations and motives. What is your opinion of the current state of hedge fund regulation? [choose best response]

  Stricter regulation of hedge funds is needed
  Current regulation is adequate
  Current regulation is too strict, and should be relaxed

Please check one from each category that best describes your company:

a. Industry

       Retail/Wholesale
       Mining/Construction
       Manufacturing
       Transportation/Energy
       Communications/Media

      Tech [Software/Biotech]
      Banking/Finance/Insurance
      Service/Consulting
      Healthcare/Pharmaceutical
      Other

b. Sales Revenue (U.S. Dollars)	c. Number of Employees
Less than $25 million $25-$99 million $100-$499 million $500-$999 million $1-$4.9 billion $5-$9.9 billion More than $10 billion	Fewer than 100 100-499 500-999 1,000-2,499 2,500-4,999 5,000-9,999 More than 10,000

d. Headquarters	e. Ownership
(Other specified)	Public Private Government Nonprofit

f. Foreign Sales	g. Your job title (e.g., CFO, Asst. Treasurer, etc)
0% 1-24% 25-50% More than 50%

Duke University/CFOBusiness Outlook Asia Spring 2007

Duke University/CFO
Business Outlook Asia
Spring 2007