The Role of the Stock Exchange and Securities Brokers Association in Compromise and Reduction of Cases Arbitration Board : the Hybirid Artificial Neural Network and Imperialist Competitive Algorithm

دانشنامه حقوق اقتصادی

Volume 30, Issue 24, March 2024, Pages 191-216   

Document Type: Scientific research

DOI: 10.22067/economlaw.2024.84210.1308

Author

Shahram Sabri^*

Asistant Professor, Department of Law, Faculty of Law, Islamic Azad University, Branch of Bileh Savar , Bileh Savar, Iran

Abstract

Purpose: The saturation of court cases in public and specialized courts is considered to be one of the challenges present in the country’s judicial system, which leads to the failure to conduct a fair proceedings. This study has been examined the role of the Executive Committees of the Stock Exchange and Securities Brokers Association in the declaration of satisfaction and reconciliation in the compilation Committee and reduction of cases referred to the Arbitration Board.
Methodology: Data for this study was collected from the monthly Bolton archive of Stock Exchange and Securities Brokers Association from 2016/01/1 to 2023/06/30. All factors and alternatives of increasing or decreasing legal cases has been ranked applying experts' opinions compilation by the weighted geometric mean and quality function deployment (QFD) and the appeals committee and the professional certification committee of the capital market were removed from the research model with a low degree of importance. Factors and alternatives of great importance include the total number of cases of declaration of consent and reconciliation as output variables and Committees of Conciliation, Governance of Capital Market Education, Legal, Capital Market Law, Job Description, Member Affairs Unit and Groupsworking of Internal Monitoring and Control and Information Technology Governance as input variables of network and then mathematical model of research has been tested by the hybirid method of the neural network and the imperialist competition algorithm.
Results: The training process of network has been stopped after Convergence by estimated test error of 12/4e-03 and model accuracy of 98.76 percent. Each of the interactions between the members of the Association has been resulted in preventing or resolving disciplinary violations between brokers and investors and reducing the number of cases referred to the arbitration board.

Keywords

Conciliation Committee; Stock Brokers Association; Quality Function Deployment Matrix; Artificial Neural Network; Imperialist Competition Algorithm

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