{"id":"https://openalex.org/W2890736909","doi":"https://doi.org/10.1109/access.2018.2870201","title":"The Evolutionary Optimization of a Company\u2019s Return on Equity Factor: Towards the Agent-Based Bio-Inspired System Supporting Corporate Finance Decisions","display_name":"The Evolutionary Optimization of a Company\u2019s Return on Equity Factor: Towards the Agent-Based Bio-Inspired System Supporting Corporate Finance Decisions","publication_year":2018,"publication_date":"2018-01-01","ids":{"openalex":"https://openalex.org/W2890736909","doi":"https://doi.org/10.1109/access.2018.2870201","mag":"2890736909"},"language":"en","primary_location":{"id":"doi:10.1109/access.2018.2870201","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2018.2870201","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},"type":"article","indexed_in":["crossref","doaj"],"open_access":{"is_oa":true,"oa_status":"gold","oa_url":"https://doi.org/10.1109/access.2018.2870201","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5048037443","display_name":"Rafa\u0142 Dre\u017cewski","orcid":"https://orcid.org/0000-0001-8607-3478"},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Rafal Drezewski","raw_affiliation_strings":["Akademia Gorniczo-Hutnicza imienia Stanislawa Staszica w Krakowie, Krakow, Wojew\u00c3\u00b3dztwo ma\u00c5\u201aopolskie, PL"],"affiliations":[{"raw_affiliation_string":"Akademia Gorniczo-Hutnicza imienia Stanislawa Staszica w Krakowie, Krakow, Wojew\u00c3\u00b3dztwo ma\u00c5\u201aopolskie, PL","institution_ids":[]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5004644488","display_name":"Sylwia Kruk","orcid":"https://orcid.org/0000-0002-6978-4398"},"institutions":[{"id":"https://openalex.org/I23574469","display_name":"Krakow University of Economics","ror":"https://ror.org/0262te083","country_code":"PL","type":"education","lineage":["https://openalex.org/I23574469"]}],"countries":["PL"],"is_corresponding":false,"raw_author_name":"Sylwia Kruk","raw_affiliation_strings":["Department of Economics and Organization of Enterprises, Cracow University of Economics, Cracow, Poland"],"affiliations":[{"raw_affiliation_string":"Department of Economics and Organization of Enterprises, Cracow University of Economics, Cracow, Poland","institution_ids":["https://openalex.org/I23574469"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5079945673","display_name":"Maciej Makowka","orcid":null},"institutions":[{"id":"https://openalex.org/I686019","display_name":"AGH University of Krakow","ror":"https://ror.org/00bas1c41","country_code":"PL","type":"education","lineage":["https://openalex.org/I686019"]}],"countries":["PL"],"is_corresponding":false,"raw_author_name":"Maciej Makowka","raw_affiliation_strings":["Department of Computer Science, AGH University of Science and Technology, Cracow, Poland"],"affiliations":[{"raw_affiliation_string":"Department of Computer Science, AGH University of Science and Technology, Cracow, Poland","institution_ids":["https://openalex.org/I686019"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5048037443"],"corresponding_institution_ids":[],"apc_list":{"value":1850,"currency":"USD","value_usd":1850},"apc_paid":{"value":1850,"currency":"USD","value_usd":1850},"fwci":2.4848,"has_fulltext":false,"cited_by_count":10,"citation_normalized_percentile":{"value":0.90058072,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":97},"biblio":{"volume":"6","issue":null,"first_page":"51911","last_page":"51930"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8409000039100647,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10019","display_name":"Corporate Finance and Governance","score":0.8409000039100647,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11903","display_name":"Private Equity and Venture Capital","score":0.7944999933242798,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13402","display_name":"Business Strategy and Innovation","score":0.7742999792098999,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/profitability-index","display_name":"Profitability index","score":0.6029680967330933},{"id":"https://openalex.org/keywords/return-on-equity","display_name":"Return on equity","score":0.5397722125053406},{"id":"https://openalex.org/keywords/shareholder","display_name":"Shareholder","score":0.5008304119110107},{"id":"https://openalex.org/keywords/profit","display_name":"Profit (economics)","score":0.46185290813446045},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.4446384906768799},{"id":"https://openalex.org/keywords/dividend-policy","display_name":"Dividend policy","score":0.43803173303604126},{"id":"https://openalex.org/keywords/dividend","display_name":"Dividend","score":0.4356447756290436},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.43077442049980164},{"id":"https://openalex.org/keywords/equity","display_name":"Equity (law)","score":0.4301052689552307},{"id":"https://openalex.org/keywords/revenue","display_name":"Revenue","score":0.42655158042907715},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.3857578635215759},{"id":"https://openalex.org/keywords/corporate-governance","display_name":"Corporate governance","score":0.2662453055381775},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.1962452232837677}],"concepts":[{"id":"https://openalex.org/C129361004","wikidata":"https://www.wikidata.org/wiki/Q2470236","display_name":"Profitability index","level":2,"score":0.6029680967330933},{"id":"https://openalex.org/C155530773","wikidata":"https://www.wikidata.org/wiki/Q591174","display_name":"Return on equity","level":3,"score":0.5397722125053406},{"id":"https://openalex.org/C120757647","wikidata":"https://www.wikidata.org/wiki/Q381136","display_name":"Shareholder","level":3,"score":0.5008304119110107},{"id":"https://openalex.org/C181622380","wikidata":"https://www.wikidata.org/wiki/Q26911","display_name":"Profit (economics)","level":2,"score":0.46185290813446045},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.4446384906768799},{"id":"https://openalex.org/C59399099","wikidata":"https://www.wikidata.org/wiki/Q5284040","display_name":"Dividend policy","level":3,"score":0.43803173303604126},{"id":"https://openalex.org/C116168712","wikidata":"https://www.wikidata.org/wiki/Q181201","display_name":"Dividend","level":2,"score":0.4356447756290436},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.43077442049980164},{"id":"https://openalex.org/C199728807","wikidata":"https://www.wikidata.org/wiki/Q2578557","display_name":"Equity (law)","level":2,"score":0.4301052689552307},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.42655158042907715},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3857578635215759},{"id":"https://openalex.org/C39389867","wikidata":"https://www.wikidata.org/wiki/Q380767","display_name":"Corporate governance","level":2,"score":0.2662453055381775},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.1962452232837677},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.1109/access.2018.2870201","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2018.2870201","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},{"id":"pmh:oai:doaj.org/article:cb8de20b4f61485f9ac73bf529e865d9","is_oa":true,"landing_page_url":"https://doaj.org/article/cb8de20b4f61485f9ac73bf529e865d9","pdf_url":null,"source":{"id":"https://openalex.org/S112646816","display_name":"SHILAP Revista de lepidopterolog\u00eda","issn_l":"0300-5267","issn":["0300-5267","2340-4078"],"is_oa":true,"is_in_doaj":true,"is_core":false,"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"journal"},"license":"cc-by-sa","license_id":"https://openalex.org/licenses/cc-by-sa","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"IEEE Access, Vol 6, Pp 51911-51930 (2018)","raw_type":"article"}],"best_oa_location":{"id":"doi:10.1109/access.2018.2870201","is_oa":true,"landing_page_url":"https://doi.org/10.1109/access.2018.2870201","pdf_url":null,"source":{"id":"https://openalex.org/S2485537415","display_name":"IEEE Access","issn_l":"2169-3536","issn":["2169-3536"],"is_oa":true,"is_in_doaj":true,"is_core":true,"host_organization":"https://openalex.org/P4310319808","host_organization_name":"Institute of Electrical and Electronics Engineers","host_organization_lineage":["https://openalex.org/P4310319808"],"host_organization_lineage_names":["Institute of Electrical and Electronics Engineers"],"type":"journal"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"IEEE Access","raw_type":"journal-article"},"sustainable_development_goals":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":106,"referenced_works":["https://openalex.org/W10015682","https://openalex.org/W110885661","https://openalex.org/W161755873","https://openalex.org/W166937261","https://openalex.org/W168726085","https://openalex.org/W577473230","https://openalex.org/W865540072","https://openalex.org/W1482923363","https://openalex.org/W1487894007","https://openalex.org/W1490135525","https://openalex.org/W1501661925","https://openalex.org/W1512990238","https://openalex.org/W1513254984","https://openalex.org/W1516972762","https://openalex.org/W1517193156","https://openalex.org/W1518532281","https://openalex.org/W1520385111","https://openalex.org/W1527628363","https://openalex.org/W1532399581","https://openalex.org/W1540908235","https://openalex.org/W1545641952","https://openalex.org/W1545976882","https://openalex.org/W1551457437","https://openalex.org/W1552111316","https://openalex.org/W1557214013","https://openalex.org/W1566892458","https://openalex.org/W1572684532","https://openalex.org/W1573534773","https://openalex.org/W1574071002","https://openalex.org/W1576426930","https://openalex.org/W1594104973","https://openalex.org/W1595498733","https://openalex.org/W1620920466","https://openalex.org/W1690614984","https://openalex.org/W1727571560","https://openalex.org/W1763200058","https://openalex.org/W1792149802","https://openalex.org/W1793257153","https://openalex.org/W1898293761","https://openalex.org/W1905847227","https://openalex.org/W1946870185","https://openalex.org/W1966322352","https://openalex.org/W2002442515","https://openalex.org/W2013191151","https://openalex.org/W2016926179","https://openalex.org/W2024425422","https://openalex.org/W2070384429","https://openalex.org/W2072656291","https://openalex.org/W2078008877","https://openalex.org/W2082149135","https://openalex.org/W2088235871","https://openalex.org/W2100907527","https://openalex.org/W2105781771","https://openalex.org/W2106150020","https://openalex.org/W2111195923","https://openalex.org/W2116661285","https://openalex.org/W2116954712","https://openalex.org/W2127999994","https://openalex.org/W2129876380","https://openalex.org/W2142183404","https://openalex.org/W2149214223","https://openalex.org/W2176318069","https://openalex.org/W2179028514","https://openalex.org/W2190607529","https://openalex.org/W2205971475","https://openalex.org/W2371181793","https://openalex.org/W2497084614","https://openalex.org/W2622143106","https://openalex.org/W2736227398","https://openalex.org/W2746424315","https://openalex.org/W2771179773","https://openalex.org/W2790745305","https://openalex.org/W2799836806","https://openalex.org/W2947909954","https://openalex.org/W2994964425","https://openalex.org/W2995423468","https://openalex.org/W3003288998","https://openalex.org/W3023169168","https://openalex.org/W3023540311","https://openalex.org/W3121176335","https://openalex.org/W3121550950","https://openalex.org/W3122123991","https://openalex.org/W3122755736","https://openalex.org/W3123073555","https://openalex.org/W3123957277","https://openalex.org/W3124233610","https://openalex.org/W3124384052","https://openalex.org/W3125659467","https://openalex.org/W3125822274","https://openalex.org/W4237415163","https://openalex.org/W4242690927","https://openalex.org/W4244422442","https://openalex.org/W4248523071","https://openalex.org/W4248914187","https://openalex.org/W4255989889","https://openalex.org/W4285719527","https://openalex.org/W4299796063","https://openalex.org/W4301173492","https://openalex.org/W6606625409","https://openalex.org/W6637436800","https://openalex.org/W6637663283","https://openalex.org/W6639348978","https://openalex.org/W6675878492","https://openalex.org/W6676742224","https://openalex.org/W6771627385","https://openalex.org/W7000621087"],"related_works":["https://openalex.org/W1484809014","https://openalex.org/W2380198706","https://openalex.org/W2090345768","https://openalex.org/W2356514433","https://openalex.org/W3215587151","https://openalex.org/W2347893185","https://openalex.org/W3200849755","https://openalex.org/W1517418884","https://openalex.org/W2993425899","https://openalex.org/W2351531671"],"abstract_inverted_index":{"Return":[0],"on":[1,108,243,321],"Equity":[2],"(ROE)":[3],"is":[4,20,121,124],"an":[5,98,274,401,405],"important":[6],"factor":[7],"from":[8,85],"the":[9,31,59,63,76,83,86,93,109,113,130,138,141,145,148,171,195,232,244,261,283,298,310,325,331,335,340,343,355,364,398,416,423],"perspective":[10],"of":[11,23,33,45,58,62,115,132,140,151,176,246,285,312,324,342,368,400,419],"formulating":[12],"and":[13,91,103,111,123,137,162,173,201,228,265,360,393],"implementing":[14],"a":[15,43,53,56,68,152,223,369,376],"company's":[16,142],"financial":[17,60,163,186,294],"strategies.":[18],"It":[19,27],"also":[21,166,189,297,358,415],"one":[22,322,391],"its":[24,49,116],"evaluation":[25],"criteria.":[26],"presents":[28],"to":[29,73,88,220,260,346,413],"investors":[30,74],"effectiveness":[32],"using":[34],"their":[35],"capital.":[36],"Increasing":[37],"profitability":[38,104],"may":[39,51],"be":[40,52,71,89,155,411],"treated":[41],"as":[42,211],"symptom":[44],"shareholder":[46],"wealth,":[47],"while":[48],"reduction":[50],"signal":[54],"indicating":[55],"deterioration":[57],"situation":[61],"company.":[64],"An":[65],"investment":[66],"in":[67,231,252,282,375,422],"company":[69,110,153],"will":[70,81,96,304,319,338,383,410],"attractive":[72],"if":[75,92],"results":[77],"obtained":[78],"by":[79,159],"it":[80],"enable":[82],"benefit":[84],"dividend":[87],"paid":[90],"share":[94],"prices":[95],"show":[97],"upward":[99],"trend.":[100],"Therefore,":[101],"profit":[102],"are":[105,237,241,249],"categories":[106],"dependent":[107],"affect":[112],"wealth":[114],"owners.":[117],"The":[118,302,380],"ROE":[119,332],"ratio":[120],"synthetic":[122],"linked":[125],"to,":[126],"among":[127],"others":[128],"with":[129,309,350,397],"size":[131,139],"sales,":[133],"asset":[134],"use":[135,311,399],"activity,":[136],"debt.":[143],"However,":[144],"decisions":[146,281],"regarding":[147],"capital":[149,366],"structure":[150,367],"should":[154,167],"made":[156],"not":[157,183,292],"only":[158,184,222,293],"purely":[160],"economic":[161,177],"analyses":[164],"but":[165,188,296],"take":[168,180],"into":[169,181,290,387],"account":[170,182,291,388],"social":[172],"environmental":[174],"effects":[175],"activities.":[178],"To":[179],"short-term":[185],"goals":[187,193,295,418],"long-term":[190,417],"sustainable":[191,299,420],"development":[192,300,421],"during":[194],"decision-making":[196],"process,":[197],"we":[198,272,318,337],"need":[199],"intelligent":[200],"creative":[202],"multi-criteria":[203],"decision":[204,348],"support":[205],"tools.":[206],"Bio-inspired":[207],"artificial":[208],"intelligence":[209],"techniques-such":[210],"evolutionary":[212,328,402],"algorithms,":[213,219],"deep":[214],"neural":[215],"networks,":[216],"or":[217,404],"swarm":[218],"give":[221],"few":[224],"examples-are":[225],"gaining":[226],"more":[227,229,389],"popularity":[230],"recent":[233],"years.":[234],"Evolutionary":[235],"algorithms":[236],"optimization":[238,267,308,396],"techniques":[239],"that":[240,248],"modeled":[242],"processes":[245],"evolution":[247],"taking":[250,386],"place":[251],"natural":[253],"populations.":[254],"They":[255],"can":[256],"find":[257],"approximate":[258],"solutions":[259,362],"NP-hard":[262],"global,":[263],"multi-modal,":[264],"multi-objective":[266,307,395],"problems.":[268],"In":[269,315],"this":[270,316],"paper,":[271,317],"propose":[273],"innovative":[275,359],"approach-an":[276],"agent-based":[277,406],"bio-inspired":[278,313],"system":[279,303,382],"supporting":[280],"area":[284],"corporate":[286],"finance,":[287],"which":[288,372],"takes":[289],"goals.":[301],"allow":[305,384],"for":[306,385],"algorithms.":[314],"concentrate":[320],"module":[323],"proposed":[326,344,381],"system-the":[327],"algorithm":[329,345,403],"optimizing":[330],"factor.":[333],"During":[334],"experiments,":[336],"verify":[339],"ability":[341],"provide":[347],"makers":[349],"reasonable,":[351],"useful,":[352],"and,":[353],"at":[354],"same":[356],"time,":[357],"non-obvious":[361],"concerning":[363],"desired":[365],"given":[370],"company,":[371],"usually":[373],"operates":[374],"rapidly":[377],"changing":[378],"environment.":[379],"than":[390],"criteria":[392],"perform":[394],"co-evolutionary":[407],"algorithm,":[408],"soit":[409],"possible":[412],"include":[414],"future.":[424]},"counts_by_year":[{"year":2025,"cited_by_count":2},{"year":2024,"cited_by_count":2},{"year":2022,"cited_by_count":1},{"year":2021,"cited_by_count":3},{"year":2020,"cited_by_count":1},{"year":2019,"cited_by_count":1}],"updated_date":"2025-11-06T03:46:38.306776","created_date":"2025-10-10T00:00:00"}
