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Marine transportation has been faced with an increasing demand for containerized cargo during the past decade. Marine container terminals (MCTs), as the facilities for connecting seaborne and inland transportation, are expected to handle the increasing amount of containers, delivered by vessels. Berth scheduling plays an important role for the total throughput of MCTs as well as the overall effectiveness of the MCT operations. This study aims to propose a novel island-based metaheuristic algorithm to solve the berth scheduling problem and minimize the total cost of serving the arriving vessels at the MCT.

A universal island-based metaheuristic algorithm (UIMA) was proposed in this study, aiming to solve the spatially constrained berth scheduling problem. The UIMA population was divided into four sub-populations (i.e. islands). Unlike the canonical island-based algorithms that execute the same metaheuristic on each island, four different population-based metaheuristics are adopted within the developed algorithm to search the islands, including the following: evolutionary algorithm (EA), particle swarm optimization (PSO), estimation of distribution algorithm (EDA) and differential evolution (DE). The adopted population-based metaheuristic algorithms rely on different operators, which facilitate the search process for superior solutions on the UIMA islands.

The conducted numerical experiments demonstrated that the developed UIMA algorithm returned near-optimal solutions for the small-size problem instances. As for the large-size problem instances, UIMA was found to be superior to the EA, PSO, EDA and DE algorithms, which were executed in isolation, in terms of the obtained objective function values at termination. Furthermore, the developed UIMA algorithm outperformed various single-solution-based metaheuristic algorithms (including variable neighborhood search, tabu search and simulated annealing) in terms of the solution quality. The maximum UIMA computational time did not exceed 306 s.

Some of the previous berth scheduling studies modeled uncertain vessel arrival times and/or handling times, while this study assumed the vessel arrival and handling times to be deterministic.

The developed UIMA algorithm can be used by the MCT operators as an efficient decision support tool and assist with a cost-effective design of berth schedules within an acceptable computational time.

A novel island-based metaheuristic algorithm is designed to solve the spatially constrained berth scheduling problem. The proposed island-based algorithm adopts several types of metaheuristic algorithms to cover different areas of the search space. The considered metaheuristic algorithms rely on different operators. Such feature is expected to facilitate the search process for superior solutions.

This study aims to investigate the efficiency changes of 23 major Asian container ports for the period from 2000 to 2007. In addition to assess the general trend, it also attempts to decompose the overall efficiency change into technological efficiency change, technical efficiency change and scale efficiency change to help port authorities to devise operational strategies.

The Malmquist index method is used, which is derived from data envelopment analysis. In this model, technological improvement comes from using state-of-the-art technologies, technical improvement is from rationalizing of port inputs and scale efficiency is from adjustment of port operational scales.

On average, the investigated ports have improved their efficiencies by 14.3 per cent. Such efficiency gains can be attributed to a 41 per cent increase in pure technical efficiency, a 47.5 per cent increase in scale efficiency and a 30.5 per cent decrease in technological efficiency. The scale efficiency contributes the most to the overall efficiency improvement, while technical and technological effects seem to have less impact. The fact that technological efficiency has little variance seems to suggest that this source of efficiency gain may not bring substantial competitive advantage.

The sample period is 2000-2007, so the impact from the Asian financial crisis or the economic downturn was not covered. Also, the port throughputs data do not separate shipment and transhipment.

This study provides valuable suggestions to improve efficiency for container ports along the “Maritime Silk Road.”

This study reviews and discusses the accounting literature that analyzes the role of auditors and enforcers in the context of fraud.

This literature review includes both qualitative and quantitative studies, based on the idea that the findings from different research paradigms can shed light on the complex interactions between different financial reporting controls. The authors use a mixed-methods research synthesis and select 64 accounting journal articles to analyze the main proxies for fraud, the stages of the fraud process under investigation and the roles played by auditors and enforcers.

The study highlights heterogeneity with respect to the terms and concepts used to capture the fraud phenomenon, a fragmentation in terms of the measures used in quantitative studies and a low level of detail in the fraud analysis. The review also shows a limited number of case studies and a lack of focus on the interaction and interplay between enforcers and auditors.

This study outlines directions for future accounting research on fraud.

The analysis underscores the need for the academic community, policymakers and practitioners to work together to prevent the destructive economic and social consequences of fraud in an increasingly complex and interconnected environment.

This study differs from previous literature reviews that focus on a single monitoring mechanism or deal with fraud in a broadly manner by discussing how the accounting literature addresses the roles and the complex interplay between enforcers and auditors in the context of accounting fraud.

Whether older or younger entrepreneurs may be better positioned to achieve performance outcomes for their ventures is a much debated question. Here, we draw on Galenson℉s theory of creativity to propose a contingency perspective for understanding the relationship between entrepreneur age and venture performance, suggesting that a venture℉s level of innovativeness plays a moderating role. Results from a representative sample of 1,182 nascent entrepreneurs revealed mixed support for our hypotheses. While a negative relationship was found between entrepreneur age and performance for those developing “innovative” ventures, no relationship was found between entrepreneur age and performance for those developing “imitative” ventures.

This paper empirically examines whether the order of liability and preferred stock accounts presented on the balance sheet is consistent with how the stock market values their riskiness.

This paper measures a firm’s riskiness with idiosyncratic risk and employs the first-difference design to test the relation between idiosyncratic risk and the order of current liabilities, noncurrent liabilities and preferred stock, respectively. Further, the paper tests whether operating liabilities are viewed as riskier than financial liabilities. Finally, the authors partition their sample based on the degree of financial distress and investigate whether the results differ between the two subsamples.

The paper finds that current liabilities are viewed as riskier than noncurrent liabilities and preferred stock is viewed as less risky than current and noncurrent liabilities, consistent with the ordering on the balance sheet. Further, the paper finds that operating liabilities are viewed as riskier than financial liabilities. Finally, the authors find that total liabilities and preferred stock (redeemable and convertible classes) are viewed as riskier for distressed firms than for nondistressed firms.

The authors thoroughly investigate the riskiness of several classes of claims and document that the classification of liabilities and preferred stock classes is relevant to common stockholders for assessing their associated risk.

Experimental research was conducted on the effects of surface roughness on ultrasonic non-destructive testing of electron beam melted (EBM) additively manufactured Ti-6Al-4V. Additive manufacturing (AM) is a developing technology with many potential benefits, but certain challenges posed by its use require further research before AM parts are viable for widespread use in the aviation industry. Possible applications of this new technology include aircraft battle damage repair (ABDR), small batch manufacturing to fill supply gaps and replacement for obsolete parts. This paper aims to assess the effectiveness of ultrasonic inspection in detecting manufactured flaws in EBM-manufactured Ti-6Al-4V. Additively manufactured EBM products have a high surface roughness in “as-manufactured” condition which is an artifact of the manufacturing process. The surface roughness is known to affect the results of ultrasonic inspections. Experimental data from this research demonstrate the ability of ultrasonic inspections to identify imbedded flaws as small as 0.51 mm at frequencies of 2.25, 5 and 10 MHz through a machined surface. Detection of flaws in higher surface roughness samples was increased at a frequency of 10 MHz opposed to both lower frequencies tested.

The approach is to incorporate ultrasonic waves to identify flaws in an additive manufactured specimen

A wave frequency of 10 MHz gave good results in finding flaws even with surface roughness present.

To the best of the authors’ knowledge, this was the first attempt that was able to identify small flaws using ultrasonic sound waves in which surface roughness was present.

Risk information provides information to enable stakeholders to make informed decisions about a company. Corporate communications should be readable and unbiased so as not to hamper disclosure usefulness. This study assesses whether risk disclosures in the integrated reports are readable and unbiased.

The readability and narrative tone of South African listed companies' risk and risk management disclosures as disclosed in their integrated reports are analysed using automated software for the Top 40 JSE listed companies from 2015 to 2019.

The results show that risk and risk management disclosures are unreadable and lack any improvement in readability during the period. Additionally, these disclosures are biased toward narrative tones signalling communality and certainty.

The study adds to the literature on the readability of corporate reports, by focussing on the readability and narrative tone of risk and risk management disclosures during a period of increased scrutiny over the content of such disclosures. Also, by analysing risk disclosure and risk management disclosure separately, and by performing trend analysis to determine whether requirement changes related to content (specifically King IV) affect readability and narrative tones.