<abstract> <p>The importance of macroeconomic indicators on the performance of bankruptcy prediction models has been a contentious issue, due in part to a lack of empirical evidence. Most indicators are primarily centered around a company's internal environment, overlooking the impact of the economic cycle on the status of the company. This research brings awareness about the combination of microeconomic and macroeconomic factors. To do this, a new model based on logistic regression was combined with principal component analysis to determine the indicators that best explained the variations in the dataset studied. The sample used comprised data from 1,832 Portuguese construction companies from 2009 to 2019. The empirical results demonstrated an average accuracy rate of 90% up until three years before the bankruptcy. The microeconomic indicators with statistical significance fell within the category of liquidity ratios, solvency and financial autonomy ratios. Regarding the macroeconomic indicators, the gross domestic product and birth rate of enterprises proved to increase the accuracy of bankruptcy prediction more than using only microeconomic factors. A practical implication of the results obtained is that construction companies, as well as investors, government agencies and banks, can use the suggested model as a decision-support system. Furthermore, consistent use can lead to an effective method of preventing bankruptcy by spotting early warning indicators.</p> </abstract>

In experimental tasks that involve stimuli that vary along a quantitative continuum, some choice biases are commonly found. Take, for instance, a matching-to-sample task where animals must, following the presentation of sample stimuli (that differ in duration), choose between two or more comparison stimuli. In tests where no sample is presented there is usually a bias towards the comparison that is correct following the shortest sample. To examine some aspects of these choice biases, pigeons were trained in a symbolic matching-to-sample task with two durations of keylight as samples, where key pecking had to be maintained during sample presentation. Firstly, even though animals were required to attend to the sample, a preference for the "short" comparison in nosample testing was found. This result disproves an account where this effect was hypothesized to happen due to non-programmed learning resulting from the animals failing to attend to some trials. Secondly, even though a bias for "short" was found in both no-sample and delay testing, the extent of the biases differed between tasks, thus suggesting that forgetting the sample presented during a delay does not necessarily land the animal in a state similar to presenting no sample at all to begin with.

The purpose of this paper is to understand the influence of country personality dimensions and product involvement on European consumers purchase and visit intentions, considering the Portuguese context. The increasing economic globalisation has resulted in the reducing of trade barriers between nations and the availability of more foreign products and services across borders. Therefore, the place associations of these products and services might be regarded as a potential competitive differentiator in their respective markets. Despite the proliferation of literature devoted to assessing the effects of country-of-origin, the symbolic dimension of a country's image remains understudied. A questionnaire measuring country personality dimensions, product involvement, and consumer´s purchase and visit intention was passed on a sample of 335 European consumers. Country personality indeed matters both positively and negatively. Findings show that while assiduousness positively influences consumer's visit intentions, wickedness has a negative influence on consumer's purchase intentions. Findings also reveal that product involvement has a positive significant influence on consumer's purchase and visit intentions. On developing marketing strategies, international marketers and governmental decision-makers should consider product involvement attributes and specific country personality traits to provide the country's products with a competitive edge, as well as to promote the country as a travelling destination.

The paper aims to understand the mediating effect of Country Image (CI) on the relationship between consumer cosmopolitanism and consumers' purchase, visit and investment intentions towards a foreign country, considering the moderating effects of ethnocentrism, materialism, product familiarity, and visits to a country in a global market. The study extends research on the global and local consumption by simultaneously analysing the influence of country image dimensions and several moderating effects on consumers' behavioural intentions. Four hundred and fifty-seven valid responses from international consumers were collected through a questionnaire measuring country image dimensions. Findings indicate that cosmopolitanism has a significant and positive effect on foreign consumers' behavioural intentions and country image dimensions mediate this relationship. Moreover, a moderating effect was found for ethnocentrism, materialism, product familiarity, and visits to a country on the relationship between country cognitions and the intentions to visit the country. This study shows the importance of considering cosmopolitanism as a potential segmentation variable in international markets. The results can help managers and policymakers to better understand the image that foreign consumers hold about Portugal, their intentions to buy or invest in the country, as well as to think of Portugal as a tourism destination.

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