THE ROLE OF WOMEN IN ENVIRONMENTAL PROTECTION IN IGABI LOCAL GOVERNMENT, KADUNA STATE, NIGERIA
Hypothesis 2: Ineffective Utilization of Resources has no impact on sub-optimality in production in
14. Discussion and conclusion
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people based on educational degree, and awareness based on working experience is significant.
Table 4- Comparison of average score of servant leadership characteristics in viewpoint of Imam Ali’s tradition in terms of demographic characteristics
Education Working experience Job position Characteristics
F P F P F P
Listening 1.95 0.124 0.222 0.881 0.727 0.605
Sympathy 2.25 0.086 0.201 0.894 0.228 0.950
Healing 2.36 0.074 0.751 0.524 1.09 0.368
Awareness 0.997 0.397 0.457 0.713 1.18 0.320
Encouragement 1.66 0.178 0.418 0.740 0.140 0.983
Foresight 6.52 0.001 0.344 0.740 1.47 0.203
Stewardship 2.89 0.038 0.305 0.822 2.13 0.065
Commitment to growth of people
3.99 0.009 0.136 0.939 1.51 0.191
Conceptualization 5.67 0.001 0.330 0.804 1.46 0.206
Building of coherent groups
3.98 0.012 0.350 0.789 0.986 0.429
Results of table 4 show that the observed F about foresight, stewardship, commitment to growth of people, conceptualization and building coherent groups has been significant based on educational degree.
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building coherent groups based on educational degrees has been significant in view of Imam Ali’s tradition.
With the regard to the results obtained from the study the following suggestions are presented in two parts :
A) The following cases are recommended in order to develop and extend servant leadership characteristics in Najafabad Islamic Azad University:
1- Due to the results of t-test, it is recommended to managers the organizations to harmonize employees with long-term objectives and programs of the organizations through holding useful educational courses for employees and their families so that individual and organizational growth and development will be fulfilled.
2- Due to the results of t-test, it is recommended to review and design the reward system in a way that the majority of employees who play a main role in the growth and development of the organization enjoy rewards and encouragement to the essential amount.
3- Through long-term programming for training employees it is possible to reinforce the sense of sympathy among them, to improve perceptional and human skills and to help them build coherent groups by growing of employees.
B) The following cases are recommended to researchers in order to perform future researches:
1- Due to the emphases of the supreme leader about preparing an Iranian-Islamic model of improvement and necessity for the domesticationof sciences', various researches should be performed by concentrating upon Islamic and Iranian resources about topics like servant leadership which are useful in preparing this model.
2- Due to the closeness of concepts of servant leadership our religious and national culture, it is recommended to researchers to design models for the implementation and execution of this theory in all organizations.
3- It is recommended to study and measure the adaptation level of servant leadership style with the existing leadership styles in governmental and private organizations in Iran.
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Optimization of Technical Rules by Genetic Algorithms (GA) in IRAN Stock Market
Shahram Gilaninia (Corresponding Author)
Assistant professor , Department of management, invited professor in Astara Branch, Islamic Azad University, Astara, Iran
Seyyed Javad Mousavian Master of Islamic Azad university
Department of management, invited master in Astara Branch, Islamic Azad University, Astara, Iran
Musa Rezvani
Faculty Member ,Department of management, Astara Branch, Islamic Azad University, Astara, Iran
Abstract
This paper investigates the profitability of a simple and very common technical trading rule applied to the General Index of the Madrid Stock Market. The optimal trading rule parameter values are found using a genetic algorithm. The results suggest that, for reasonable trading costs, the technical trading rule is always superior to a risk-adjusted buy-and-hold strategy.
Keywords: Technical trading rules, Genetic algorithms, Security markets 1. Introduction
Technical analysis is aimed at devising trading rules capable of exploiting fluctuation on the financial markets. Recent results indicate that the market timing strategy may be a viable alternative to the buy-and-hold strategy, where the assets are kept over a relatively long time period. The market timing approach is more dynamic and focuses on market fluctuations. The trading rules, through technical analysis, are devised to generate appropriate buying and selling signals.
The first results, using technical analysis in various financial domains, in the 1960s and 1970s supported the “efficient market hypothesis’, which implies that there should not be any exploitable pattern in the data (Fama,1970 ; Jensen&Bennington,1970). Some recent results
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Nevertheless, these developments are based on a priori rules determined through technical analysis. The emergence of new technology, in particular evolutionary algorithms, allows a system to automatically generate and adapt trading rules to particular applications. Genetic algorithms (Holland, 1975) have already been applied to a number of financial applications (Bauer, 1994). For learning trading rules, the genetic programming (GP) approach of Koza (1992) looks more promising, as it provides a flexible framework for adjusting the trading rules.
Although, the first attempts by Chen and Yeh (1996) and Allen and Karjalainen (1999) on the stock exchange markets did not show any excess returns with regard to the buy and hold approach, other recent applications of GP are more encouraging (Neely et al., 1997 ; Neely&Weller,1999 ; Marney et al., 2001).
A considerable amount of work has provided support for the view that simple technical trading rules (TTRs) are capable of producing valuable economic signals (Brock et al.,1992 ; Bessembinder&Chan,1995 ; Mills, 1997 ; Fernández Rodríguez et al., 1999). However, the majority of these studies have ignored the issue of parameter optimization, leaving them open to the criticism of data snooping and the possibility of a survivorship bias (Lo&MacKinley,1990 ; Brown et al.,1995) respectively. To avoid this criticism, a more objective and valid approach consists in choosing TTRs based on an optimization procedure utilizing in-sample data and testing the performance of these rules out-of-sample. In this sense, a genetic algorithm is appropriate method to discover TTRs (Allen&Karjalain,1999).
The aim of this paper is to investigate the profitability of some popular TTRs using genetic algorithm optimization procedures. Section 2 describes the TTRs examined in this paper, while Section 3 presents the genetic algorithms and. The empirical results are shown in Section 4.