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Study surveyed 1,050 CFOs in the US, Europe, and Asia in Q4 2008 via email. Key question: Are firms "not affected," "somewhat affected," or "very affected" by credit market challenges? Findings distinguish between unconstrained and constrained firms.
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Empirical Design • Surveyed 1,050 CFOs in the U.S., Europe, and Asia. • Fourth quarter 2008, via email. • Key survey question – Are you “not affected,” “somewhat affected” or “very affected” by difficulties accessing credit markets. • Unconstrained firms: “not affected” and “somewhat affected” • Constrained firms: “very affected”
