In IBFOA, initiated β and ε between -8.25~8.25, initiated θ between 0~1, set elimination-dispersal probability (Ped) to be 0.9, and the population size to be 20, IBFOA was run 100 iterations. In ROA models, risk-free interest rate r was replaced by the bank’s benchmark interest rate, which was selected as 3.5%, σ was set to be 40%.