Abstract
This study was conducted in a traditional Islamic boarding school (IBS) located in West Kalimantan. Among the existed boarding schools in the area, Pondok Pesantren Abdussalam was chosen due to its potential. This study adopted qualitative approach, utilized observation, documentation, interview and focus-group discussion (FGD) technique in collecting the data which then being analyzed using action research technique. The originality of the study is as follow: the study in this topic area has not been conducted previously, especially the one which focuses on the integrated economics improvement of IBS in rural area. The study result shows that there have been some economic activities in the institution in spite of its remote location. Additionally, the economic activities have been provided the institution with some benefits. However, the effect of such activities have not been felt fully yet. There have been three reasons in regard with this situation, namely insufficient human resources who have expertise in existed economic sector, limited capital as well as infrastructure factor. We propose the synergetic model to solve these three issues. The model is a cooperative model which can be implemented both with internal institution such as internal sharia micro-finance institution or with external institution such as local government or universities.
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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