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Prior studies have documented the phenomenon of rounding of analysts' earnings per share (EPS) forecasts in the USA. From the outset, it is unclear if analysts following Singapore firms also similarly engage in the rounding of their EPS forecasts. This study aims to investigate the extent to which analysts engage in rounding of EPS forecasts of firms listed on the Singapore Exchange.

The author conducted his analysis on a sample of analyst EPS forecasts of companies listed on the Singapore Stock Exchange, downloaded from the International Brokers Estimate System (I/B/E/S). This sample consists of 24,219 annual EPS forecasts announced from June 2011 to September 2019. These forecasts were made for 285 unique firms by 48 unique analysts.

The author finds that there is substantial rounding of EPS forecasts, with 9.59% of EPS forecasts examined ending in five- or ten-cent intervals. In supplementary analysis, the author further finds that the level of rounding was comparable across two periods under examination, from 2011 to 2015 and from 2016 to 2019. The author also finds that there was substantial rounding even for forecasts of relatively large magnitudes (i.e. US$1.00 and above).

This study is the first to examine the rounding of analysts' EPS forecasts of Singapore firms. It extends the literature on analyst EPS forecasts and highlights how the phenomenon of rounding of analyst EPS forecasts of US firms extends to Singapore.

The purpose of the study is to quickly identify significant heterogeneity of surrounding rock of tunnel face that generally occurs during the construction of large-section rock tunnels of high-speed railways.

Relying on the support vector machine (SVM)-based classification model, the nominal classification of blastholes and nominal zoning and classification terms were used to demonstrate the heterogeneity identification method for the surrounding rock of tunnel face, and the identification calculation was carried out for the five test tunnels. Then, the suggestions for local optimization of the support structures of large-section rock tunnels were put forward.

The results show that compared with the two classification models based on neural networks, the SVM-based classification model has a higher classification accuracy when the sample size is small, and the average accuracy can reach 87.9%. After the samples are replaced, the SVM-based classification model can still reach the same accuracy, whose generalization ability is stronger.

By applying the identification method described in this paper, the significant heterogeneity characteristics of the surrounding rock in the process of two times of blasting were identified, and the identification results are basically consistent with the actual situation of the tunnel face at the end of blasting, and can provide a basis for local optimization of support parameters.

The framework of this paper is financial mathematics and, more specifically, the control of data fraud and manipulation with their subsequent economic effects, namely, in financial markets. The purpose of this paper is to calculate the global loss or gain, which supposes, for the borrower, a change of the interest rate while the contracted loan is in force or, in another case, the loan has finished.

The methodology used in this work has been, in the first place, a review of the existing literature on the topic of manipulability and abusiveness of the loan interest rates applied by banks; in the second place, the introduction of a mathematical-financial analysis to calculate the interests paid in excess; and, finally, the compilation of several sentences issued on the application of the so-called mortgage loan reference index (MLRI) to mortgage loans in Spain.

There are three main contributions in this paper. First, the calculation of the interests paid in excess in the amortization of mortgage loans referenced to an overvalued interest rate. Second, an empirical application shows the amount to be refunded to a Spanish consumer when amortizing his/her mortgage loan referenced to the MLRI instead of the Euro InterBank Offered Rate (EURIBOR). Third, consideration has been made to the effects and the possible solutions to the legal problems arising from this type of contract.

This research is a useful tool capable of implementing the financial calculation needed to find out overpaid interests in mortgage loans and to execute the sentences dealing with this topic. However, a limitation of this study is the lack of enough sentences on mortgage loans referenced to the MLRI to get some additional information about the number of borrowers affected by these legal sentences and the amount refunded by the financial institutions.

To the best of the authors’ knowledge, this is the first time that deviations in the payment of interests have been calculated when amortizing a mortgage.

Emergency care delivery is a process requiring input from various healthcare professionals within the hospital. To deliver efficient and effective emergency care, professionals must integrate rapidly at multiple interfaces, working across functional, spatial and professional boundaries. Yet, the interdisciplinary nature of emergency care presents a challenge to the optimization of patient flow, as specialization and functional differentiation restrict integration efforts. This study aims to question what boundaries exist at the level of professionals and explores how these boundaries may come to influence integration and operational performance.

To provide a more holistic understanding of the inherent challenges to integration at the level of professionals and in contexts where professionals play a key role in determining operational performance, the authors carried out an in-depth case study at a busy, Level 1 trauma center in The Netherlands. In total, 28 interviews were conducted over an 18-month period.

The authors reveal the existence of structural, relational and cultural barriers between (medical) professionals from different disciplines. The study findings demonstrate how relational and cultural boundaries between professionals interrupt flows and delay service processes.

This study highlights the importance of interpersonal and cultural dynamics for internal integration and operational performance in emergency care processes. The authors unveil how the presence of professional boundaries creates opportunity for conflict and delays at important interfaces within the emergency care process, and can ultimately accumulate, disrupting patient flow and increasing lead times.

This paper has presented a brief description of the SSS industry in Europe and has discussed what is meant by this industry, what types of ships are involved, what cargoes are carried, what are the main geographical areas of operations, what are the industry's strengths and weaknesses, and what users require from the industry before it can become a realistic choice for many in multimodallogistics transport chains.

This chapter draws out lessons regarding how the diagnosis of urgent problems, the formation of ambitious and visionary goals, and the participation of stakeholders with critical innovation assets stimulate the cocreation of innovative solutions that promote the SDGs (Sustainable Development Goals), and how changemakers can lead and manage cocreated innovation processes. It considers the initiation of innovation processes and the design and testing of innovative solutions as well as the upscaling and diffusion of new successful products, processes and organizational forms. Finally, it identifies several common pitfalls that are important for changemakers to avoid, including an assumption of the necessity for heroic leadership, failure to include relevant actors, overly strict and detailed plans and procedures, and inability to integrate newcomers.

Repetitive transcranial magnetic stimulation (rTMS) has been proven to be efficacious in the treatment of Major Depressive Disorder (MDD). We previously examined the effectiveness of rTMS for MDD in an applied clinical setting, AwakeningsKC Clinical Neuroscience Institute (CNI) and found high remission rates for patients diagnosed with MDD following rTMS treatment. An unexpected relationship with body composition and rTMS unit was discovered. This sub-study extends the previous investigation through a focused analysis of the effects of body composition on response to rTMS in the treatment of MDD. We utilized data collected from a retrospective review of medical records for patients diagnosed with MDD undergoing rTMS therapy at AwakeningsKC CNI. Patient Health Questionnaire 9 (PHQ-9) scores, time to remission status and body mass index (BMI) at baseline were considered while referencing two different rTMS instruments (MagVenture; NeuroStar). We found 23 (9%) of 247 participants met criteria for obese status (BMI?30) with an average baseline PHQ-9 score of 22±4, classified as “severe depression”. Obesity status was differentially impacted by the rTMS instrument used for treatment. Patients with obesity showed a shorter time to remission (mean 2.7±0.27 vs. mean 3.4±0.3 weeks) and proportionately greater remission rate (100% vs. 71%) when treated using the MagVenture relative to the NeuroStar instrument. Clinical response to rTMS therapy for MDD appears to be guided by individual factors including body composition and rTMS parameters such as the unit used for treatment. Further study of these influences could aid in the optimization of clinical response to rTMS.

The paper aims to investigate the difference in total factor productivity (TFP) among those firms with and without outsourcing in a developing country like Vietnam. Also, it explores the effect of outsourcing activities on total factor productivity with a specified concentration on the Vietnamese small and medium-sized enterprises (SMEs).

The panel data set of SMEs used in this study was originated from biannual surveys conducted under the collaboration between educational organizations and government agencies: Stockholm School of Economics (SSE), Department of Economics – the University of Copenhagen, the Institution of Labor Studies and Social Affairs (ILSSA) in the Ministry of Labor, Invalids and Social Affairs (MOLISA). In this study, the model is developed based on the production function in accordance with the model of Girma and Görg (2004). The firms’ TFP is the difference between the actual and the predicted output as with the approach by Levinsohn and Petrin (2003).

This study finds out that firms with outsourcing have higher total factor productivity than those without outsourcing activities. In addition, the more firms spend on outsourcing, the higher total factor productivity they can gain. Outsourcing to SMEs in a developing country can significantly increase its TFP by means of either maintaining core competencies or searching external resources in conducting some internal activities.

Although outsourcing has been widely applied by large firms, the research studying its impact on productivity at firm level is limited. Especially, this study can shed light on the impact for the case of SMEs in a developing economy.

The awarding of terminals to private operators is considered a prime task of landlord port authorities. Yet, terminal concessions in seaports have only recently gained interest in academic circles. The awarding process poses a complex set of managerial challenges to port authorities, one of the key issues being the determination of the duration of the concession.

Despite the importance of the duration of terminal concessions in seaports, the issue has not received much attention in academic circles. Factors impacting on the duration of contracts, leases or concessions have, however, been studied extensively in other research areas, such as agriculture, coal contracts, franchising and natural gas. This paper uses insights from these academic studies to obtain a better understanding of the impact of concession duration on the stakeholders involved and relates them to empirical evidence on concession length in European seaports. The paper then proposes a classification scheme for the exogenous determination of concession duration, based on techniques developed for Public-Private-Partnerships in large infrastructure projects. In the last section the paper discusses the importance of concession durations to various stakeholders in seaports and illustrates these principles using a case study.

This study involved a group of Middle Eastern Muslim women (ages ranging from 16-36) learning mathematics through social justice pedagogy. One of the important lessons from this experience is that, despite some of the unique challenges associated with teaching for social justice, in this context this method of teaching is doable and beneficial. However, in the current atmosphere throughout the Middle East it is a very challenging task: it needs courage and commitment on the part of the teacher/researcher, as well as support and even protection by the head of the college or policymakers to ensure that it leads to positive learning outcomes.