Abstract
This article aims at analyzing community consumption as a practice model which will create a new model in the understanding of the consumption to the consumptive pattern. In its development, community consumption pattern brings about a shift because of technology and modern facility availability. An approach used to write this report is library research, while the analysis technique applied is a content analysis aiming at getting a valid inference and can be reobserved based on is context. The presence of technology as a representation of facility in the fulfillment of needs are able to encourage the creation of social change, like the spreading of consumerist culture, the change of fashion and lifestyle mode where this condition is institutionalized in a community culture structure so that consuming goods do not only depend on the needs logic but also cover to someone’s emotional substance. That situation systematically shifts traditional values and directs to the global behavior. Consumption towards the construction of consumptive society becomes a conceptual and historical illustration to understand the consumption shifting to the consumptive practice.
Highlights
As the dynamic of the investment changes it enhances the importance of decision making which is the part of the Behavioral finance
The result shows that risk aversion is an important criterion in decision making but the investor that are risk averse are more logical and rational (Hunjra et al, 2012)
These believe and information create or force the investor to take any decision it can be an overreaction of available information or it can be a suitable decision for the betterment of the firm
Summary
As the dynamic of the investment changes it enhances the importance of decision making which is the part of the Behavioral finance. If the organization makes an appropriate decision of investment it will result in an increase of firm productivity and outcome (Mayfield et al, 2008) Researchers such as Kengatharan and Kengatharan (2014), Qadri and Shabbir (2014), Nofsinger and Varma (2013), highlighted the positive relationship between behavioural factors and decision making of investment in the stock market by an investor. This research focuses on the detailed analysis of the experience of the investor as well as the corporate governance and other factors It covers both theoretical and observed involvement of the factor in the decision making of investment. The study is limited to the investment decisions of the Iraqi investors it covers the moderating factors such as age, gender and financial education of the investors which is the contribution of the current study and in this way this study adds value to the current state of knowledge in the domain of behavioral finance
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