Effects of roadway geometric features on run-off road crashes on the Florida State Highway System

Run-off-road (ROR) crashes have increasingly become a serious concern for transportation officials in the State of Florida. These types of crashes have increased proportionally in recent years statewide and have been the focus of the Florida Department of Transportation. The goal of this research was to develop statistical models that can be used to investigate the possible causal relationships between roadway geometric features and ROR crashes on Florida's rural and urban principal arterials. ^ In this research, Zero-Inflated Poisson (ZIP) and Zero-Inflated Negative Binomial (ZINB) Regression models were used to better model the excessive number of roadway segments with no ROR crashes. Since Florida covers a diverse area and since there are sixty-seven counties, it was divided into four geographical regions to minimize possible unobserved heterogeneity. Three years of crash data (2000–2002) encompassing those for principal arterials on the Florida State Highway System were used. Several statistical models based on the ZIP and ZINB regression methods were fitted to predict the expected number of ROR crashes on urban and rural roads for each region. Each region was further divided into urban and rural areas, resulting in a total of eight crash models. A best-fit predictive model was identified for each of these eight models in terms of AIC values. The ZINB regression was found to be appropriate for seven of the eight models and the ZIP regression was found to be more appropriate for the remaining model. To achieve model convergence, some explanatory variables that were not statistically significant were included. Therefore, strong conclusions cannot be derived from some of these models. ^ Given the complex nature of crashes, recommendations for additional research are made. The interaction of weather and human condition would be quite valuable in discerning additional causal relationships for these types of crashes. Additionally, roadside data should be considered and incorporated into future research of ROR crashes. ^

Autonomy and authority in the lives of children who work as domestic servants in Ghana

Limited literature exists on Ghana's child domestic servants, and researchers have found it difficult to locate and study these children. The research for this dissertation used qualitative research methodologies and non-probabilistic sampling techniques to make it possible to interview child domestic servants, their parents, employers and recruiters in Ghana. The findings from the qualitative analyses informed the second part of this study, which was quantitative and tested hypotheses using crosstabulations and logistic regression analyses that were based on survey data from the Ghana Statistical Service. Explanatory variables in the quantitative analyses included lineage, level of education and relationships to the household head. ^ This study located findings about the processes of children's recruitment into domestic servitude, their working conditions and methods of remuneration in theories of slavery to answer the question of whether or not child domestic servants are slaves. According to the findings, elite households in Ghana exploit children from rural regions because they have taken advantage of a historical practice that allowed children to live with older members of their extended families to provide domestic services and in return, be given the chance to receive formal education or to learn a trade. The participants in the qualitative part of this research described the treatments that they receive from their employers as slavery. Nevertheless, the processes of their recruitment and the age at which most of them accepted such job offers made it difficult to categorize a majority of them as contemporary slaves. ^

Essays on firm behavior and firm performance

This dissertation comprises three individual chapters in an effort to examine different explanatory variables that affect firm performance. Chapter Two proposes an additional determinant of firm survival. Based on a detailed examination of firm survival in the British automobile industry between 1895 and 1970, we conclude that a firm's selection of submarket (defined by quality level) influenced survival. In contrast to findings for the US automobile industry, there is no evidence of first-mover advantage in the market as a whole. However, we do find evidence of first-mover advantage after conditioning on submarket choice. Chapter Three examines the effects of product line expansion on firm performance in terms of survival time. Based on a detailed examination of firm survival time in the British automobile industry between 1895 and 1970, we find that diversification exerts a positive effect on firm survival. Furthermore, our findings support the literature with respect to the impacts of submarket types, pre-entry experience, and timing of entry on firm survival time. Chapter Four examines corporate diversification in U.S. manufacturing and service firms. We develop measures of how related a firm's diverse activities are using input-output data and the NAILS classification to construct indexes of "vertical relatedness" and "complementarity". Strong relationships between these two measures are found. We utilize profitability and excess value as the measure for firm performance. Econometric analysis reveals that there is no relationship between the degree of relatedness of diversification and firm performance for the study period.

The absence of race in democratic politics: The case of the Dominican Republic

This dissertation explores the relationship between race and democratization. Through the examination of the case of the Dominican Republic, this study challenges mainstream explanations of democratic transitions. At its core, this dissertation aims at calling attention to the absence of race and ethnic allegiances as explanatory variables of the democratic processes and debates in the region. By focusing on structural variables, the analysis shies away from elite and actor-centered explanations that fall short in predicting the developments and outcomes of transitions. The central research questions of this study are: Why is there an absence of the treatment of race and ethnic allegiances during the democratic transitions in Latin America and the Caribbean? How has the absence of ethnic identities affected the nature and depth of democratic transitions? Unlike previous explanations of democratic transitions, this dissertation argues that the absence of race in democratic transitions has been a deliberate attempt to perpetuate limited citizenship by political and economic elites. Findings reveal a difficulty to overcome nationalist discourses where limited citizenship has affected the quality of democracy. Original field research data for the study has been gathered through semi-structured interviews and focus groups conducted from October 2008 to December 2009 in the Dominican Republic.

The World Trade Organization, competition policy, and developing countries: A cross -country examination of domestic policy actions

This dissertation addresses the following research question: in a particular policy area, why do countries that display unanimity in their international policy behavior diverge from each other in their domestic policy actions? I address this question in the context of the divergent domestic competition policy actions undertaken by developing countries during the period 1996-2007, after these countries had quite conspicuously displayed near-unanimity in opposing this policy measure at the World Trade Organization (WTO). This divergence is puzzling because (a) it does not align with their near-unanimous behavior at the WTO over competition policy and (b) it is at variance with the objectives of their international opposition to this policy at the WTO. Using an interdisciplinary approach, this dissertation examines the factors responsible for this divergence in the domestic competition policy actions of developing countries. ^ The theoretical structure employed in this study is the classic second-image-reversed framework in international relations theory that focuses on the domestic developments in various countries following an international development. Methodologically, I employ both quantitative and qualitative methods of analysis to ascertain the nature of the relationship between the dependent variable and the eight explanatory variables that were identified from existing literature. The data on some of the key variables used in this dissertation was uniquely created over a multi-year period through extensive online research and represents the most comprehensive and updated dataset currently available. ^ The quantitative results obtained from logistic regression using data on 131 countries point toward the significant role played by international organizations in engineering change in this policy area in developing countries. The qualitative analysis consisting of three country case studies illuminate the channels of influence of the explanatory variables and highlight the role of domestic-level factors in these three carefully selected countries. After integrating the findings from the quantitative and qualitative analyses, I conclude that a mix of international- and domestic-level variables explains the divergence in domestic competition policy actions among developing countries. My findings also confirm the argument of the second-image-reversed framework that, given an international development or situation, the policy choices that states make can differ from each other and are mediated by domestic-level factors. ^

Substance Use and Sexual Risk Behaviors among Adolescent Detainees

During the past two decades there has been much research conducted on the relationship between the risky sexual behavior practices and substance use among U.S. adolescents. This body of research has documented the fact that substance use and not using condoms are the most important indicators associated with the risk of becoming infected with sexually transmitted diseases (STD) both among adolescents and adults (Florida Department of Public Health, 2004; Malow, Devieux, Jennings, & Lucenko, 2001; McCoy & Inciardi, 1995). Data from those reports and studies indicate that adolescents and adults who use a condom regularly and appropriately are 20 times less likely to contract an STD than those who do not (Pinkerton & Abramson, 1997). However, less empirical evidence exists about the factors that influence adolescent use of condoms, particularly among adolescents who are detained due to their criminal lifestyle. Researchers have found both a high prevalence of STD in addition to early onset of sexual activity without protection among some adolescent groups such as the detainees (D'angelo & DiClemente, 1996) and that adolescents tend to underestimate their risks of acquiring the human immunodeficiency virus (HIV) (Magura, Shapiro, & Kang, 1994). Many adolescents will experiment with alcohol and other drugs. This behavior may compromise their judgment and increase their chances of engaging in risky sex (Rotheram-Borus, 2000). Hence the need for research that investigates the influence that substance use, risky sexual attitudes, knowledge about the transmission of HIV, and both peer and parental approval of condom use have on the use of condoms among both female and male adolescent detainees. Lastly, it is important for additional research to be conducted because adolescent detainees have been identified as being at high risk of becoming infected with an STD (Malow, Rosemberg, & Devieux, 2006). The purpose of this study was to examine the relationship among adolescent substance use, gender, sexual risk attitude, attitude about personal use of condoms, knowledge associated with the transmission of HIV, peer and family approval of condom use, history of sexually transmitted diseases (STD) and the level of condom use in a sample of adolescents housed in a correctional institution. Further details of the explanatory variables, the control variables and their expected relationships can be found in the review of the Literature in Chapter 2. Also, more information about the separate analysis of the research questions is detailed in the Methods section in Chapter 3. Based on the literature detailed in Chapter 2 (e.g., Malow et al., 2006), the current study’s researcher anticipated that adolescents’ higher levels of illicit drug use would be related to higher levels of sexual risk behaviors, as measured by lower levels of condom use, than their counterparts who used no drugs. Similarly, it was hypothesized that positive attitudes toward condom use and higher levels of HIV risk knowledge would be associated with a lower level of risky sexual behaviors along with a higher level of condom use skill. It was further hypothesized that the level of approval perceived from parents and peers regarding condom use was going to be related to adolescents’ safe sex behavior (i.e., condom use). Therefore, it was expected that participants’ perception of a high level of approval to use condoms from peers and parents would be a statistically significant variable in helping explain the condom use within this sample of adolescent detainees.

The Absence of Race in Democratic Politics: The Case of the Dominican Republic

This dissertation explores the relationship between race and democratization. Through the examination of the case of the Dominican Republic, this study challenges mainstream explanations of democratic transitions. At its core, this dissertation aims at calling attention to the absence of race and ethnic allegiances as explanatory variables of the democratic processes and debates in the region. By focusing on structural variables, the analysis shies away from elite and actor-centered explanations that fall short in predicting the developments and outcomes of transitions. The central research questions of this study are: Why is there an absence of the treatment of race and ethnic allegiances during the democratic transitions in Latin America and the Caribbean? How has the absence of ethnic identities affected the nature and depth of democratic transitions? Unlike previous explanations of democratic transitions, this dissertation argues that the absence of race in democratic transitions has been a deliberate attempt to perpetuate limited citizenship by political and economic elites. Findings reveal a difficulty to overcome nationalist discourses where limited citizenship has affected the quality of democracy. Original field research data for the study has been gathered through semi-structured interviews and focus groups conducted from October 2008 to December 2009 in the Dominican Republic.

Avaliação das condicionalidades em saúde do Programa Bolsa Família

The programs of conditional cash transfer are widespread in developing countries in Latin America with emphasis on Brazil as a new paradigm in social p olicies for poverty eradication . Consist of transferring monetary funds from the government directly to poor families by fulfilling the condition alities on education and health . In health, even wi th variations between countries , conditionality targeting public pregnant women and children with a view to improving health indic ators maternoinfantil as growth , infant mortality and prenatal care. The objectives of this study are to compare the transfer progr am conditional Brazilian income , the Family and similar programs in Latin A merica in relation to it s effects on growth in children , and to evaluate the effect of Bolsa Família in the prevalence of use of services ( conditionalities ) of prenatal care in Brazilian health services whose teams joined the Programa de Acesso e Melhoria da Qualidade da Atenção Básica (PMAQ - AB) . For the first objective a systematic review , we selec ted ten articles between 1007 ( one thousand and seven ) found in the databases Embase , PubMed, Scopus , Scielo and Lilacs databases was performed . Articles are ob servational epidemiological studies of transverse descriptive and analytical types of cohort and case - co ntrol. For the second objective, for it is a prevalence study , a statistical analysis using Poisson regression with robust variance was performed to i nvestigate how the prevalence of compliance with conditionalities on health was influenced b y various explanatory variables . Ratios , crude and adjusted prevalence , with their respective confidence i ntervals of 95 % were estimated . The family joined the sch olarship program was considered as the main expo sure variable . Confounding variables were: maternal age , race / color, paid employment , marital status and region of residence . In d ata analysis software R 3.0.1 (RDevelopment Core Team 2013 ) was used . Rega rding the comparison of the Bolsa Família with other programs in Latin America , the review found similar results regarding the positive effect of income transfer in the nutritional status o f beneficiary children programs , and these effects are more evident in children under two years old and belonging to familie s of lower socioeconomic status . For the prevalence of conditionalities entres different groups of users of the Bolsa Família and nonusers results showed no statistically significant difference betwe en respondents (with children under two years ) registered and not registered in PBF on issues relating to: me et at least six prenatal visits , meet and participate in health education activities . It follows from side to increase minimum income for families in extreme poverty showed positive impact on children's health in Brazil and Latin America. The o ther is not confirmed in Brazil , an increase in conditionality expressed in use of primary care by the user s of the Bolsa Família services.

Tooth wear in Irish teenagers: a laboratory and epidemiological study

Aim: To investigate the characteristics, development and determinants of toothwear among Irish schoolchildren. Methods: A cross-sectional (examination at 16-years-old) and longitudinal (examinations at 5-,12-,14-years) study were conducted. Two indices were used to measure toothwear, children/parents completed a demographic profile and questionnaire on oral hygiene and dietary practices, health, and lifestyle in both studies. Saliva was collected from consenting 16-year-olds. The explanatory variables for the cross-sectional and longitudinal study were derived from children/parents responses. Differences in salivary profiles were determined for subsets; the protein concentration was determined with Bradford protein assay and protein carbonyl concentration (a protein oxidation marker) was determined spectrophotometrically. Gel-electrophoresis and mass spectrometry determined proteins and ion chromatography inorganic ions. Statistical significance was accepted at p<0.05. Results: At 16-years-old the prevalence of toothwear with dentine visible was 44%. No difference in salivary flow rates existed. In unstimulated saliva a higher mean, protein carbonyl (p<0.0001) and total calcium concentration (p<0.002) existed for the group with moderate toothwear. In stimulated saliva the moderate toothwear group had a lower mean protein concentration(p<0.0001). The 2-DE protein spots prepared for a sub-group differed between those with toothwear and without. Mass spectrometry, identified one of the different proteins as IgA. For 16-year-olds, the self-reported factors indicated that brushing after breakfast was associated with lower toothwear scores(p<0.03). Nail-biting, being asthmatic or reporting a dry mouth were associated with higher toothwear scores(all p<0.05). Eating an apple daily or less was associated with less toothwear(p<0.002). In the longitudinal study toothwear into dentine at age five or 12-years was associated with more toothwear at age 14(all p<0.05). Discussion: The results illustrate the multifactorial aetiology of toothwear. The biochemical and physical correlates of saliva with toothwear requires further research. Conclusion: The impact of previous toothwear, salivary, dietary and personal factors on toothwear in the early permanent dentition is demonstrated.

Concentrations of brominated and chlorinated contaminants in adipose tissue of polar bears (Ursus maritimus) between 1991-2007

Adipose tissue was sampled from the western Hudson Bay (WHB) subpopulation of polar bears at intervals from 1991 to 2007 to examine temporal trends of PCB and OCP levels both on an individual and sum-contaminant basis. We also determined levels and temporal trends of emerging polybrominated diphenyl ethers (PBDEs), hexabromocyclododecane (HBCD), polybrominated biphenyls (PBBs) and other current-use brominated flame retardants. Over the 17-year period, sum DDT (and p,p'-DDE, p,p'-DDD, p,p'-DDT) decreased (-8.4%/year); alpha-hexachlorocyclohexane (alpha-HCH) decreased (-11%/year); beta-HCH increased ( + 8.3%/year); and sum PCB and sum chlordane (CHL), both contaminants at highest concentrations in all years (>1 ppm), showed no distinct trends even when compared to previous data for this subpopulation dating back to 1968. Some of the less persistent PCB congeners decreased significantly (-1.6%/year to -6.3%/year), whereas CB153 levels tended to increase (+ 3.3%/year). Parent CHLs (c-nonachlor, t-nonachlor) declined, whereas non-monotonic trends were detected for metabolites (heptachlor epoxide, oxychlordane). sum chlorobenzene, octachlorostyrene, sum mirex, sum MeSO2-PCB and dieldrin did not significantly change. Increasing sum PBDE levels (+13%/year) matched increases in the four consistently detected congeners, BDE47, BDE99, BDE100 and BDE153. Although no trend was observed, total-(alpha)-HBCD was only detected post-2000. Levels of the highest concentration brominated contaminant, BB153, showed no temporal change. As long-term ecosystem changes affecting contaminant levels may also affect contaminant patterns, we examined the influence of year (i.e., aging or "weathering" of the contaminant pattern), dietary tracers (carbon stable isotope ratios, fatty acid patterns) and biological (age/sex) group on congener/metabolite profiles. Patterns of PCBs, CHLs and PBDEs were correlated with dietary tracers and biological group, but only PCB and CHL patterns were correlated with year. DDT patterns were not associated with any explanatory variables, possibly related to local DDT sources. Contaminant pattern trends may be useful in distinguishing the possible role of ecological/diet changes on contaminant burdens from expected dynamics due to atmospheric sources and weathering.

European student mobility and intercultural learning at a portuguese university

The purpose of this study is to understand, impact and evaluate the development of intercultural communicative competencies among European credit-seeking exchange students and other sojourners through purposeful intercultural pedagogy. This pedagogy encompasses intentional intercultural- educational approaches which aim to support and enhance sojourners’ intercultural learning throughout the study abroad cycle (pre-departure, in-country and reentry phases). To test and validate these pedagogies a 20-hour intervention was designed and implemented among two cohorts of 31 sojourners during the in-country phase of their sojourn in Portugal. The process to develop and validate the intercultural intervention was driven by a mixed-methods methodology which combined quantitative and qualitative data to triangulate, complement and expand research results from a pragmatic stance. The mixed methods research design adopted is multi-phased and encompasses a multi-case study and an evaluative component. The multi-case component is embodied by sojourner cohorts: (1) the primary case study involves 19 incoming students at the University of Aveiro (Portugal) as participants in the European exchange program Campus Europae; (2) the second case study comprises three incoming Erasmus students and nine highly skilled immigrants at the same university. All 31 sojourners attended two intermediate Portuguese as Foreign Language classrooms where the intervention was employed. Data collection was extensive and involved collecting, analyzing and mixing quantitative and qualitative strands across four research phases. These phases refer to the: (1) development, (2) implementation and (3) evaluation of the intervention, as well as to (4) a stakeholder analysis of the external value of the intervention and of the Campus Europae program. Data collection instruments included pre and posttest questionnaires and semi-structured interviews. Results confirm the intercultural effectiveness of the intervention and the positive impact upon research participants’ intercultural gains. This impact was, however, greater in case study 2. Among explanatory variables, three stand out: (1) participant meaning-making abilities, (2) host language proficiency and related variables, and (3) type of sojourn or exchange programs. Implications for further research highlight the need to systematize purposeful intercultural pedagogy in sojourner populations in general, and in European credit student mobility in particular. In the latter case, these pedagogies should be part of the design and delivery of credit-bearing exchange programs in pre- departure, in-country and re-entry phases. Implications for practice point to the urge to improve intercultural practices in: macro (higher education institutions), mezzo (exchange programs) and micro (sojourner language classrooms) contexts where this research took place, and wider social scenarios they represent.

Financiamento do investimento em países das Américas: Uma análise de dados em painel 1972- 2008

O presente artigo tem por objetivo analisar empiricamente os determinantes do financiamento do investimento nos países das Américas no período de 1972-2008, tendo como base teórica os modelos de hiatos nas versões de Chenery e Bruno (1962); Bacha (1982, 1989 e 1990) e Taylor (1994). Com este intuito, realiza-se uma estimação com o modelo de dados em painel na versão padrão com efeitos fixos. As variáveis explicativas de cada país seguem a abordagem de Amadeo e Giambiagi (1990). São elas: os coeficientes de poupança interna e de importação e as exportações reais. Os resultados das estimações corroboram com a concepção teórica do modelo de hiatos, ou seja, que países em desenvolvimento enfrentam limitações de poupança interna e incapacidade de importar bens intensivos em capital, fatores os quais restringem o nível de investimento dessas economias.

Ecological stoichiometry controls the transformation and retention of plant-derived organic matter to humus in response to nitrogen fertilisation

Carbon (C) sequestration in soils is a means for increasing soil organic carbon (SOC) stocks and is a potential tool for climate change mitigation. One recommended management practice to increase SOC stocks is nitrogen (N) fertilisation, however examples of positive, negative or null SOC effects in response to N addition exist. We evaluated the relative importance of plant molecular structure, soil physical properties and soil ecological stoichiometry in explaining the retention of SOC with and without N addition. We tracked the transformation of 13C pulse-labelled buffel grass (Cenchrus ciliaris L.), wheat (Triticum aestivum L.) and lucerne (Medicago sativa L.) material to the <53 μm silt + clay soil organic C fraction, hereafter named “humus”, over 365-days of incubation in four contrasting agricultural soils, with and without urea-N addition. We hypothesised that: a) humus retention would be soil and litter dependent; b) humus retention would be litter independent once litter C:N ratios were standardised with urea-N addition; and c) humus retention would be improved by urea-N addition. Two and three-way factorial analysis of variance indicated that 13C humus was consistently soil and litter dependent, even when litter C:N ratios were standardised, and that the effect of urea-N addition on 13C humus was also soil and litter dependent. A boosted regression analysis of the effect of 44 plant and soil explanatory variables demonstrated that soil biological and chemical properties had the greatest relative influence on 13C humus. Regression tree analyses demonstrated that the greatest gains in 13C humus occurred in soils of relatively low total organic C, dissolved organic C and microbial biomass C (MBC), or with a combination of relatively high MBC and low C:N ratio. The greatest losses in 13C humus occurred in soils with a combination of relatively high MBC and low total N or increasing C:N ratio. We conclude that soil variables involved in soil ecological stoichiometry exert a greater relative influence on incorporating organic matter as humus compared to plant molecular structure and soil physical properties. Furthermore, we conclude that the effect of N fertilisation on humus retention is dependent upon soil ecological stoichiometry.

Efeitos diretos e indiretos de parâmetros dos semivariogramas referentes aos atributos químicos do solo sobre a produtividade de grãos de soja

In order to add value to soybens crops, and hence the marketing, medium and large producers have been using precision agriculture techniques (PA), as the Remote Sensing, Geographic Information Systems (GIS) and positioning satellite, to assist the management of crops. Thus, given the economic relevance of that culture to the southwest of Paraná State and Brazil, scientific studies to increase their productivity and profitability are of main importance. The objective of this study was to evaluate the correlation between the chemical soil properties and soybean yield for each estimated parameter of semivariogram (range, nugget and level effect), and the deployment of these correlations in direct and indirect effects, aiming to improve the mapping process of spatial variability of soil chemical properties for use in PA. The hypothesis is that not all attributes of soil used to estimate the semivariogram parameters has a direct effect on productivity, and that even in groups of plants within a larger area it is possible to estimate the parameters of the semivariograms. The experiment was conducted in a commercial area of 19.7 ha, located in the city of Pato Branco - PR, central geographic coordinates 26º 11 '35 "South, 52 43' 05" West longitude, and average altitude of 780 m. The area is planted with soybeans for over 30 years, currently being adopted to cultivate Brasmax Target RR - Don Mario 5.9i, with row spacing of 0.50 m and 13 plants m-1, totaling 260,000 plants ha-1. For georeferencing of the area of study and sampling points was used a couple of topographic ProMarkTM3 receptors, making a relative positioning to obtain the georeferenced coordinates. To collect data (chemical analyzes of soil and crop yield) were sampled 10 blocks in the experimental area, each with an area of 20 m2 (20 meters long x 1 meter wide) containing two spaced adjacent rows of 0.5 m. Each block was divided into 20 portions of 1 m2, and from each were collected four subsamples at a distance of 0.5 m in relation to the lines of blocks, making up a sample depth for 0-10 cm a sample to 10-20 cm for each plot, totaling 200 samples for each depth. The soybean crop was performed on the blocks depending on maturity, and in each block was considered a bundle at each meter. In the data analysis, it was performed a diagnosis of multicollinearity, and subsequently a path analysis of the main variables according to the explanatory variables (range of chemical attributes: pH, K, P, Ca, etc.). The results obtained by the path analysis of the parameters of the semivariogram of soil chemical properties, indicated that only the Fe, Mg, Mn, organic matter (OM), P and Saturation by bases (SB) exerted direct and indirect effects on soybean productivity, although they have not presented spatial variability, indicating that the distribution of blocks in the area was unable to identify the spatial dependence of these elements, making it impossible to draw up maps of the chemical attributes for use in PA.

Os determinantes da liquidez: evidência nas empresas portuguesas cotadas na Euronet Lisbon

Neste estudo são analisados, através de técnicas adequadas para dados em painel, os determinantes da liquidez das empresas portuguesas cotadas na Euronext Lisbon. Para a concretização do mesmo foi utilizada uma amostra de 40 empresas, para o período de 2000 a 2014, sendo este período dividido em dois subperíodos, o antes e o depois da crise. Os resultados evidenciam a existência de uma relação entre algumas das variáveis independentes e a variável dependente. De facto, antes da crise, verifica-se que as oportunidades de crescimento e a probabilidade de dificuldades financeiras são significativas para o nível da liquidez, sendo que, depois da crise, as variáveis explicativas do nível de liquidez são a volatilidade dos fluxos de caixa, o ciclo de conversão de caixa e a probabilidade de dificuldades financeiras.