Thank you for helping us with our research on time horizons in corporate management. Please answer the following questions to the best of your ability, even if you do not know the exact answer for your organization. If you feel entirely unequipped to answer the question, please choose "I don't know."

Please answer all questions reflecting your accumulated experience at your current company during the past three years – not solely on how your company is reacting to the current COVID-19 induced recession.

Please indicate your level of agreement or disagreement with each statement

Strongly Disagree Disagree Neutral Agree Strongly Agree Don't know
My company has a clear policy for deciding how much capital to invest and how much to return to shareholders
My company regularly returns capital to shareholders that could be used internally for NPV-positive projects
My company is willing to accept lower performance over the next year if it results in exceptional performance in three years

Imagine that your company experiences an immediate but temporary 15% revenue loss due to factors outside your control. This loss will not threaten the company's existence. To what extent would do you think your company would cut the following items this year?