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Section 1

a. Gender
Male
Female
b. Your Age
< 40
40-49
50-59
≥60
c. Your Education

d. General state of Company
Outstanding
Strong
At industry average
Underperforming
e. Industry

f. Company Type
Australian listed
Overseas listed
Not listed
g. Working capital % Sales
≥ 8%
<8%
h. Size By No. of Employees
<100
100-999
1000-4999
5000-9999
≥10000
i. Size By Annual Revenue

j. Foreign Sales
0%
1-24%
25-49%
≥ 50%
k. Company Credit Rating.

Please make more than one selection if applicable and where applicable for the remaining
questions.
Section 2
2. Which of the following policies best describes your company’s financing?
Moderate
Aggressive
Conservative
3. Which of the following working capital practices does your firm adopt?
Emphasize the importance of working capital within the organisation
Put in place structure, governance and dedicated resources
Understand and design performance drivers
Outperform industry average targets
Embed with change management
Goal setting approaches
Other
4. What are the key value metrics for your working capital management?
Net working capital
Return on investments
Risk management
Net cash conversion cycle (DSO+DIO-DPO)
Benchmark against competition
Weighted average capital cost
Other
5. Which of the following methods does your company use in working capital
management?
Roll over agreements
Term sheet
Collection agency
Securitization
Outsourcing
Factoring
6. Please rate the importance of the following financial risk management functions in
your company:
(0-Not Important to 4-Very Important)
a. Cash and liquidity risk
0. 1. 2. 3. 4.
b. Interest rate risk
0. 1. 2. 3. 4.
c. Credit risk
0. 1. 2. 3. 4.
d. Operational risk
0. 1. 2. 3. 4.
e. Foreign exchange risk
0. 1. 2. 3. 4.
f. Political risk
0. 1. 2. 3. 4.
7. On average, how often does your company review its working capital policy?

8. Have the working capital management practices changed after the subprimecrisis?
Yes
No
If Yes, please briefly specify how

9. Please indicate the cash management approach used by your company:
Managing cash through netting
Diversification of banks
Centralization of cash management decisions
Meet payment in a timely manner
Account structure / set-offs
Minimize float
Managing cash through leading and lagging
Streamline bank relationships (e.g. Prime Revenue online platform)
Policy on key liquidity parameters (e.g. cash, equity, dividend forecasting)
Emergency liquidity reserves
Tender for banking services
Reduce timeframes / error margins
10. Rate the importance of the following factors in cash management decisions:
0 (Not Important) to 4 (Very Important)
a. Foreign exchange rate
0. 1. 2. 3. 4.
b. Level of inflation
0. 1. 2. 3. 4.
c. Liquidity on security markets
0. 1. 2. 3. 4.
d. Efficient financial systems
0. 1. 2. 3. 4.
e. Technological advances
0. 1. 2. 3. 4.
f. Market regulations
0. 1. 2. 3. 4.
g. Interest rates
0. 1. 2. 3. 4.
h. Financial-Banking environment
0. 1. 2. 3. 4.
i . Economic environment
0. 1. 2. 3. 4.
j. Security costs
0. 1. 2. 3. 4.
11. How did the cash level arrangements alter after the subprime crisis? Your firm
cash level has
increased
decreased
not changed
Section 3
12. Does your firm deal with inventory management?
Yes
No
If 'No' proceed to Question 16
13. What approaches does your firm use for inventory management?
Material requirement planning
Sales forecasting
Just-in-time
Inventory models (EOQ or EPQ etc.)
ERP system
Supply chain management

14. What are the factors considered in purchasinginventory for production?
Price discounts
Shortage costs
Availability
Inflation
Credit terms offered by suppliers
Storage costs
15. What are the factors considered in producing your finished product?
Seasonality of demand
Production schedule
Inflation
Shortage costs
Storage costs
16. What factors motivate your firm to use accounts receivable rather than cash?
Financial motives
Price motives
Transaction motives
Operating motives
Tax-based motives
N/A (your company only uses cash rather than accounts receivable)
17. What is the bad debt level in your accounts receivable?

Section 4
18. Does your firm deal with debt management?
Yes
No
If 'No' proceed to Question 22
19. Rate the importance of the following factors in your debt decisions:
0 (Not Important) to 4 (Very Important)
a. The tax advantage of interest deductibility
0. 1. 2. 3. 4.
b. The potential costs of bankruptcy, near-bankruptcy, or financial distress
0. 1. 2. 3. 4.
c. The debt levels of other firms in your industry
0. 1. 2. 3. 4.
d. Credit ratings
0. 1. 2. 3. 4.
e. The transactions costs and fees for issuing debt
0. 1. 2. 3. 4.
f. Financial flexibility
0. 1. 2. 3. 4.
g. The volatility of earnings and cash flows
0. 1. 2. 3. 4.
h. The core debt level fluctuates with seasonal or other aspects of the business
0. 1. 2. 3. 4.
i . Limit debt so your customers/suppliers are not worried about your firm going out of
business
0. 1. 2. 3. 4.
j. Issue debt when your internal funds are not sufficient
0. 1. 2. 3. 4.
k. Issue debt when interest rates are particularly low
0. 1. 2. 3. 4.
l . Use debt when your equity is undervalued
0. 1. 2. 3. 4.
m. Diversify your debts due to risk concerns
0. 1. 2. 3. 4.
20. Is your company negatively geared?
Yes
No
21. What are the preferred funding sources of your company?
Overdraft/Line of credit
Bonds
Money market
Debentures
Cash advances
Term loans
Bank bills
Stocks
22. Following the subprime hardship, has your firm modified its strategies with
respect to the following policies?
(Please briefly specify how if you answer yes to the three policies below.)
a. Inventory
No
Yes
If yes, please specify

b. Accounts Receivable
No
Yes
If yes, please specify

c. Debt
No
Yes
If yes, please specify

23. When your firm is in financial distress to what extent do you blame any of the
following?
0 (Not at all) to 4 (Very much)
Your own financial policy
0. 1. 2. 3. 4.
The economic environment
0. 1. 2. 3. 4.
24. Assuming the economic environment is good, how confident are you in your cash
management decisions?
0 (Not At All Confident) to 4 (Extremely Confident)
0. 1. 2. 3. 4.
25. Assuming you have made credit sales to low credit rated Company A,
and ithas paid on time, what is the likelihood you would:
0 (Not at all) to 4 (Very much)
make credit sales to Company A in the future?
0. 1. 2. 3. 4.
make credit sales to another low credit rated company in the future?
0. 1. 2. 3. 4.
26. How upset would you feel if you have total bad debts of
0 (Not at all) to 4 (Very much)
10% of your sales revenue
0. 1. 2. 3. 4.
20% of your sales revenue
0. 1. 2. 3. 4.
30% of your sales revenue
0. 1. 2. 3. 4.
27. How confident are you in your cash management decisions when your firm’s
performance is strong?
0 (Not At All Confident) to 4 (Extremely Confident)
0. 1. 2. 3. 4.
28. In times of good financial performance to what extent do you think the following
factors have contributed?
0 (Not at all) to 4 (Very much)
Your own financial policy
0. 1. 2. 3. 4.
The economic environment
0. 1. 2. 3. 4.
29. Assuming you have made credit sales to low credit rated Company B, and the
company did not pay its debt on time, what is the likelihood you would:
0 (Not at all likely) to 4 (Extremely likely)
make credit sales to this Company B in the future?
0. 1. 2. 3. 4.
make credit sales to another low credit rated company in the future?
0. 1. 2. 3. 4.
30. How satisfied would you be with an annual profit of
0 (Not at all) to 4 (Very much)
10% of your sales revenue
0. 1. 2. 3. 4.
20% of your sales revenue
0. 1. 2. 3. 4.
30% of your sales revenue
0. 1. 2. 3. 4.
31. How confident are you in your cash management decisions when your firm’s
performance is poor?
0 (Not At All Confident) to 4 (Extremely Confident)
0. 1. 2. 3. 4.