Mahsan Esmaeilzadeh, Bijan Abdollahi, Asadallah Ganjali and Akbar Hasanpoor
The purpose of this paper is to introduce an evaluation methodology for employee profiles that will provide feedback to the training decision makers. Employee profiles play a…
Abstract
Purpose
The purpose of this paper is to introduce an evaluation methodology for employee profiles that will provide feedback to the training decision makers. Employee profiles play a crucial role in the evaluation process to improve the training process performance. This paper focuses on the clustering of the employees based on their profiles into specific categories that represent the employees’ characteristics. The employees are classified into following categories: necessary training, required training, and no training. The work may answer the question of how to spend the budget of training for the employees. This investigation presents the use of fuzzy optimization and clustering hybrid model (data mining approaches) as a fuzzy imperialistic competitive algorithm (FICA) and k-means to find the employees’ categories and predict their training requirements.
Design/methodology/approach
Prior research that served as an impetus for this paper is discussed. The approach is to apply evolutionary algorithms and clustering hybrid model to improve the training decision system directions.
Findings
This paper focuses on how to find a good model for the evaluation of employee profiles. The paper introduces the use of artificial intelligence methods (fuzzy optimization (FICA) and clustering techniques (K-means)) in management. The suggestion and the recommendations were constructed based on the clustering results that represent the employee profiles and reflect their requirements during the training courses. Finally, the paper proved the ability of fuzzy optimization technique and clustering hybrid model in predicting the employee’s training requirements.
Originality/value
This paper evaluates employee profiles based on new directions and expands the implication of clustering view in solving organizational challenges (in TCT for the first time).
Details
Keywords
Bijan Bidabad, Saeid Abdollahi and Mahshid Sherafati
This paper aims to facilitate and accelerate the enforcement of binding banking documents and to decrease the enforcement burden of the registration offices, courts and judicial…
Abstract
Purpose
This paper aims to facilitate and accelerate the enforcement of binding banking documents and to decrease the enforcement burden of the registration offices, courts and judicial authorities and to transfer it to the banks.
Design/methodology/approach
A new mechanism for “enforcement of the purports of binding banking documents in Rastin Banking” is proposed. In the proposed regulations, a part of the executive path for enforcement of the purports of binding banking documents is transferred into a newly established unit located in every bank. The method considers all financial, legal and executive issues.
Findings
Promotion of practical justice is a main factor to promote social and economic circumstances; the proposed model can prepare a way to improve the social and economic well-being.
Research limitations/implications
Codifying the law and regulations is a highly sophisticated task, and the art of codification can be examined after scrutinizing and executing the full text of the law.
Practical implications
Though this paper presents the concept, the detailed proposed regulations are presented in two drafts of the bill and bylaw for enforcement of the purports of binding banking documents and handling complaints against executive operations in Rastin Banking.
Social implications
This procedure is a model that can be adapted for other countries, especially those countries that have a large number of legal disputes and where the process of dispute settlement is very lengthy and cumbersome.
Originality/value
It fulfils an identified need to solve the practical legal problem in vindication of rights that can lead to positive and important effects towards creating public trust in financial obligations and increasing the speed of collecting demands.
Details
Keywords
Bijan Bidabad, Saeid Abdollahi and Mahshid Sherafati
This paper aims to facilitate and accelerate the enforcement of binding banking documents and to decrease the enforcement burden of the registration offices, courts and judicial…
Abstract
Purpose
This paper aims to facilitate and accelerate the enforcement of binding banking documents and to decrease the enforcement burden of the registration offices, courts and judicial authorities and to transfer it to the banks.
Design/methodology/approach
A new mechanism for “enforcement of the purports of binding banking documents in Rastin Banking” is proposed. In the proposed regulations, a part of the executive path for enforcement of the purports of binding banking documents is transferred into a newly established unit located in every bank. The method considers all financial, legal and executive issues.
Findings
Promotion of practical justice is a main factor to promote social and economic circumstances; the proposed model can prepare a way to improve the social and economic well-being.
Research limitations/implications
Codifying the law and regulations is a highly sophisticated task, and the art of codification can be examined after scrutinizing and executing the full text of the law.
Practical implications
Though this paper presents the concept, the detailed proposed regulations are presented in two drafts of the bill and bylaw for enforcement of the purports of binding banking documents and handling complaints against executive operations in Rastin Banking.
Social implications
This procedure is a model that can be adapted for other countries, especially those countries that have a large number of legal disputes and the process of dispute settlement is very lengthy and cumbersome.
Originality/value
It fulfils an identified need to solve practical legal problem in vindication of rights that can lead to positive and important effects toward creating public trust in financial obligations and increasing the speed of collecting demands.
Details
Keywords
Mahsan Esmaeilzadeh Tarei, Bijan Abdollahi and Mohammad Nakhaei
The purpose of this paper is to describe imperialist competitive algorithm (ICA), a novel socio-politically inspired optimization strategy for proposing a fuzzy variant of this…
Abstract
Purpose
The purpose of this paper is to describe imperialist competitive algorithm (ICA), a novel socio-politically inspired optimization strategy for proposing a fuzzy variant of this algorithm. ICA is a meta-heuristic algorithm for dealing with different optimization tasks. The basis of the algorithm is inspired by imperialistic competition. It attempts to present the social policy of imperialisms (referred to empires) to control more countries (referred to colonies) and use their sources. If one empire loses its power, among the others making a competition to take possession of it.
Design/methodology/approach
In fuzzy imperialist competitive algorithm (FICA), the colonies have a degree of belonging to their imperialists and the top imperialist, as in fuzzy logic, rather than belonging completely to just one empire therefore the colonies move toward the superior empire and their relevant empires. Simultaneously for balancing the exploration and exploitation abilities of the ICA. The algorithms are used for optimization have shortcoming to deal with accuracy rate and local optimum trap and they need complex tuning procedures. FICA is proposed a way for optimizing convex function with high accuracy and avoiding to trap in local optima rather than using original ICA algorithm by implementing fuzzy logic on it.
Findings
Therefore several solution procedures, including ICA, FICA, genetic algorithm, particle swarm optimization, tabu search and simulated annealing optimization algorithm are considered. Finally numerical experiments are carried out to evaluate the effectiveness of models as well as solution procedures. Test results present the suitability of the proposed fuzzy ICA for convex functions with little fluctuations.
Originality/value
The proposed evolutionary algorithm, FICA, can be used in diverse areas of optimization problems where convex functions properties are appeared including, industrial planning, resource allocation, scheduling, decision making, pattern recognition and machine learning (optimization techniques; fuzzy logic; convex functions).
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Bijan Bidabad and Mahshid Sherafati
This paper aims to define a set of anti-squandering guideposts to improve the sustainability and efficiency of allocating financial resources to investment projects.
Abstract
Purpose
This paper aims to define a set of anti-squandering guideposts to improve the sustainability and efficiency of allocating financial resources to investment projects.
Design/methodology/approach
A set of sustainable financing and anti-squandering measures are proposed for a better allocation of the bank’s financial resources. These measures were derived from the doctrine of “ethic economics”, humanitarian principles and Islamic teachings. Rastin banking provides a base to apply these measures.
Findings
A draft of the regulations for sustainable financing and anti-squandering measures was compiled for Rastin banking operations, which is briefly presented in this paper and can be used as a basis for the codification of the respective laws.
Research limitations/implications
Such kinds of regulations are novel and need to be deeply discussed in the first place. After adaptation, adjustment and performing the necessary modifications, the text of the law can be codified.
Practical implications
Banks through granting loans, credits and other financial facilities can affect the investment projects in such a way to prevent the extravagant consumption of financial resources in investment projects and consider the sustainable development guidelines.
Social implications
The proposed guideposts can be detailed and adopted in other countries, especially those that are inefficient in their banking and financial operations.
Originality/value
Wasteful allocation of financial resources leads to the wastage of resources and reduction of productivity and provides benefit neither for the people nor for the society. Hence, the present paper tries to practically solve the problem for financial operations.
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Bijan Bidabad, Mahmoud Allahyarifard and Mahshid Sherafati
This paper aims to explain a new system of accounting for partnership financing that applies in Rastin profit and loss sharing banking. In this system, the interest rate is not…
Abstract
Purpose
This paper aims to explain a new system of accounting for partnership financing that applies in Rastin profit and loss sharing banking. In this system, the interest rate is not used in calculations and accounting, and instead, the “time value” of capital based on the amount and duration of the partnership is used.
Design/methodology/approach
Rastin Partnership Accounting principles have been founded on off-balance-sheet items and on the basis of the institutions’ obligations to the depositors and receivers of financial resources, and they are in compliance with the nature of the financial intermediary activity (a partnership of depositor in the yields of the fund receiver via the bank).
Findings
The distribution of profit among stakeholders (including workforce and capital owners) is accomplished according to the share of each beneficiary in the created value added. In this regard, Euler’s theorem, as the best mathematical-economic innovation for distribution of income is applied.
Research limitations/implications
This system is novel, and it is required to be more elaborated for further practical development and adjustment.
Practical implications
In this accounting system, the return of the partnership is distributed among sharers based on the amount and duration of their partnership. The penalty for delay in payment is calculated from the amount of the incurred loss due to negligence or blameworthy of the undertaker and not upon a penalty interest rate.
Social implications
Interest rate as an essential factor in conventional accounting is not usable in Islamic banking and other similar institutions that work based on partnership, such as mutual funds and saving and loan associations. The proposed system removes this shortage and is fairer than the conventional accounting.
Originality/value
Approach of this accounting system is fully different from the conventional accounting because of intrinsic characteristics of the intermediary role of financial partnership institutions and Islamic banks.
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Arman Shojaei, Bijan Boroomand and Farshid Mossaiby
The purpose of this paper is to present a simple meshless solution method for challenging engineering problems such as those with high wave numbers or convection-diffusion ones…
Abstract
Purpose
The purpose of this paper is to present a simple meshless solution method for challenging engineering problems such as those with high wave numbers or convection-diffusion ones with high Peclet number. The method uses a set of residual-free bases in a local form.
Design/methodology/approach
The residual-free bases, called here as exponential basis functions, are found so that they satisfy the governing equations within each subdomain. The compatibility between the subdomains is weakly satisfied by enforcing the local approximation of the main state variables pass through the data at nodes surrounding the central node of the subdomain. The central state variable is first recovered from the approximation and then re-assigned to the central node to construct the associated equation. This leads to the least compatibility required in the solution, e.g. C0 continuity in Laplace problems.
Findings
The authors shall show that one can solve a variety of problems with regular and irregular point distribution with high convergence rate. The authors demonstrate that this is impossible to achieve using finite element method. Problems with Laplace and Helmholtz operators as well as elasto-static problems are solved to demonstrate the effectiveness of the method. A convection-diffusion problem with high Peclet number and problems with high wave numbers are among the examples. In all cases, results with high rate of convergence are obtained with moderate number of nodes per cloud.
Originality/value
The paper presents a simple meshless method which not only is capable of solving a variety of challenging engineering problems but also yields results with high convergence rate.
Details
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Bijan Bidabad and Mahshid Sherafati
This paper aims to discuss some of the operational Islamic banking features considered in ethical banking as the aspects of Rastin Banking. Ethical banking is a branch of “ethic…
Abstract
Purpose
This paper aims to discuss some of the operational Islamic banking features considered in ethical banking as the aspects of Rastin Banking. Ethical banking is a branch of “ethic economics” and a narrow expression of a number of Islamic banking aspects.
Design/methodology/approach
These features are often involved in the discussions under the topic of internal control and describe the operational characteristics of ethical banking within the framework of Rastin Banking.
Findings
This study refers to the principles of Rastin Banking, including operational, financial, economic, ethical, social, legal, international and organizational principles. Additionally, it takes into account some of the internal control systems.
Research limitations/implications
Converting ethical codes into executable laws and regulations needs sophistication, and the art of codification in this subject can be observed in the present paper.
Practical implications
As far as the ethical behaviour of the assessor and trustee is concerned, the necessities of honesty, belief, virtuosity, rectitude and compliance with moral values, as well as reward and punishment mechanisms, are operationally examined. Transparency, governance and disclosure of information are the other components. The methods of auditing, accounting, inspection and preservation of Rastin Banking achievements are amongst the other matters of concern.
Social implications
An assiduous attention to the operational details of each of the above-said discussions revealed that the Islamic banking components are capable of covering the topics and discussions beyond ethical banking.
Originality/value
This paper fulfils an identified need to solve the practical ethical problem in operational banking.
Details
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Bijan Bidabad, Azarang Amirostovar and Mahshid Sherafati
This paper aims to define a set of operating regulations for financial transparency, corporate governance and information disclosure for the entrepreneur that applies to bank to…
Abstract
Purpose
This paper aims to define a set of operating regulations for financial transparency, corporate governance and information disclosure for the entrepreneur that applies to bank to receive financial resources.
Design/methodology/approach
Corporate governance, financial transparency and information disclosure are among the most important solutions to attract public trust to financial operations. To reach this goal, a new set of regulations must be designed to solve the problem. In this regard, Rastin Banking regulations can provide a base to obtain a better circulation of information and a higher clarity.
Findings
A draft of regulations for financial transparency, corporate governance and information disclosure was compiled, and it is presented here briefly in this paper, which can be used as a basis for codification of the respective law.
Research limitations
As such kinds of regulations are novel, they are required to be discussed first, and after adaptation, adjustment and performing the necessary modifications, the text of the law can be codified.
Practical implications
Banks and companies managers, through granting various concessions to themselves and their own stakeholders, have violated the rights of the shareholders, depositors and other stakeholders. This issue, to a great extent is adjustable by applying the governance methods.
Social implications
This procedure is a model and can be adopted in other countries, especially in countries that have large ambiguities in their banking and financial operations.
Originality value
Clearly, lack of transparency in financial operations can gradually weaken the trust of depositors, shareholders and stakeholders, and result in probable abuses and damages to all parties of banking contracts. This paper fulfils an identified need and solves the practical problem in financial abuses, corruption and collusion and can provide positive and important effects toward creating public trust in financial operations.
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This paper aims to propose a system for settlement of obligations of those who, on the one hand, serially owe someone and, on the other hand, are creditors to other persons…
Abstract
Purpose
This paper aims to propose a system for settlement of obligations of those who, on the one hand, serially owe someone and, on the other hand, are creditors to other persons. Serial Commitments Clearance (SCC) system provides the necessary arrangements for this purpose.
Design/methodology/approach
Theoretical discussions of serial chain of debits and credits were conducted by considering the laws and regulations of commitment clearance.
Findings
By considering laws and regulations of commitment clearance and introducing theory of serial chain of debits and credits, this system proposes an algorithm for recognition of serial commitments.
Research limitations/implications
This process is set in connection to the Collateral Registration System and Mortgage Securitization System in Rastin Banking, while considering the legal and operational problems. Accordingly, banks, notary offices and other authorized authorities can clear serial obligations of persons due to their requests and agreements and release their collaterals and guarantees as far as the debts of the persons are equivalent.
Practical implications
This system will cause financial release and efficiency of many economic firms. In addition, banks will gain commission for rendering this service.
Social implications
SCC is a model that can be used in all countries, especially those which have more uncertainties and traders need more pledges for their transactions.
Originality/value
This study fulfils an identified need to solve practical legal problems in vindication of rights.