Tilburg University - CFO - Duke University
Global Business Outlook Survey
Second Quarter 2010

No individual firms are identified and only aggregate data are made public. Please respond by June 3. If you have any questions about this survey, please contact us.

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

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 external concerns facing your corporation? (rank #1, #2, #3)

   Domestic competition
   Consumer demand
   Cost of fuel
   Cost of non-fuel commodities
   Credit markets/interest rates
   Environmental regulation
   Financial regulation
   Foreign competition

   Housing market fallout
   Price pressure
   Trade policies and trade agreements
   Volatility of foreign currencies
   The financial/banking system
   Stability of local and central government
   Government policy
   Other:

4. What are the top three internal, company-specific concerns for your corporation? (rank #1, #2, #3)

   Ability to forecast results
   Attracting and retaining qualified
   Balance sheet weakness
   Cost of health care
   Counterparty risk
   Data security
   Illness
   Maintaining morale/productivity

   Managing IT systems
   Margin maintenance
   Pension obligations
   Protection of intellectual property
   Supply chain risk
   Working capital management
   Other:

5. 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.]

   Capital spending
   Cash on the balance sheet
   Dividends
   Earnings
   Health care costs
   Marketing/advertising spending
   Number of domestic full-time employees
   Number of domestic temporary employees

   Number of offshore outsourced employees
   Prices of your products
   Productivity (output per hour worked)
   Technology spending
   Research and development spending
   Share repurchases
   Wages/Salaries

6a. Please indicate whether you agree or disagree with the following statements about the economy.

	Agree	Disagree	Don't Know
The financial stability in Europe is severely threatened by Greece, Spain and Italy.
The turmoil in Greece will have a negative impact on my company's business.
If the financial situation in Spain and Italy will worsen in the coming months, it will have a negative impact on my company's business.
European countries should financially support other European countries that are in financial trouble, like the current support for Greece.
The northern European countries pay the price for the problems in the Southern European countries.
I am worried about a surge in inflation in the coming 2 years.
I am worried about a setback in the equity markets.

6b. Please indicate whether you agree or disagree with the following statements about the Euro.

	Agree	Disagree	Don't Know
The emergency lending measures announced by the European leaders and major central banks will positively affect the European economy and the Euro.
Greece should be excluded from the Euro (currency).
Greece, Spain and Italy should be excluded from the Euro (currency).
The introduction of the Euro overall had a positive effect on my company (e.g. competitive position, export, sales revenue, etc.).
A downward drop of the Euro will have a negative impact on my company's business (e.g. import becomes more expensive).
A downward drop of the Euro will have a positive impact on my company's business (e.g. export).
The Euro as one European currency was a mistake; each country should have kept their own currency.
The Euro has brought Europe more prosperity.

7. Did your company make cuts in any of the following employee-related areas from 2007-2009? Have you already or will you restore these items to pre-recession levels by June 2011? (Please check all that apply in right and left columns.)

8. At the present time, in which of the following areas is your company focusing its investment for growth? (Check all that apply, up to three)

  Not currently investing for growth
  Reaching new customers in existing markets
  Entering new geographic markets
  Developing new product/service
  Improving existing product/service
  Acquiring assets, a company, or companies
  Other (Please specify)

9. How would you characterize your company's market position right now?

  Still coping with recession impact
  On the sidelines/in a holding pattern
  Cautiously pursuing growth
  Aggressively pursuing growth
  Other (Please specify)

10. Compared to 2009, how much do you expect consumer/customer demand for your company's goods/services to change in 2010?

10b. If you expect an increase, how confident are you in your company's ability to meet increased demand?

	Extremely confident	Somewhat confident	Not confident	Not sure

11. Compared to Fall 2009, does your company find borrowing now:

	Much more difficult	A little more difficult	About the same	A little easier	Much easier	N/A

12. Did your firm experience a covenant violation (or near-violation) for a line of credit during 2008/2009?

  No
  Yes, near violation
  Yes, violation
  N/A, our firm did not have a credit facility

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	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. Where are you personally located?

e. Ownership

	(Other specified)

If your company headquarters is located in another country, please indicate which country.	(Other specified)

      Public
      Private
      Government
      Nonprofit

f. Foreign Sales	g. Does your firm have one or more foreign subsidiaries?
0% 1-24% 25-50% More than 50%	Yes No

h. What is your company's ratio of total debt to assets? (e.g., 33% if total debt is one-third of total assets)	i. Do you expect your company's operating profit (EBIT) to be positive in fiscal 2010?
%	Yes No

j. In normal credit conditions, about what is your company's weighted average cost of capital? (e.g., 12%)	k. In early 2009, about what was your company's weighted average cost of capital? (e.g., 12%)
%	%

l. What is your company's credit rating?

m. Does your firm pay a dividend?

Check here if you do not have a rating, and please estimate what your rating would be.

Yes
No

n. Your job title (e.g., CFO, Asst. Treasurer, etc)

� Duke University, 2010

Tilburg University - CFO - Duke University Global Business Outlook Survey Second Quarter 2010

Tilburg University - CFO - Duke University
Global Business Outlook Survey
Second Quarter 2010