The Behaviour of Small Investors in the Hong Kong Derivatives Markets: A Factor AnalysisReportar como inadecuado


The Behaviour of Small Investors in the Hong Kong Derivatives Markets: A Factor Analysis


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Department of Economics and Finance, Hong Kong Shue Yan University





Abstract This paper investigates the behaviour of small investors in Hong Kong’s derivatives markets. The study period covers the global economic crisis of 2011- 2012, and we focus on small investors’ behaviour during and after the crisis. We attempt to identify and analyse the key factors that capture their behaviour in derivatives markets in Hong Kong. The data were collected from 524 respondents via a questionnaire survey. Exploratory factor analysis was employed to analyse the data, and some interesting findings were obtained. Our study enhances our understanding of behavioural finance in the setting of an Asian financial centre, namely Hong Kong. View Full-Text

Keywords: Behavioural finance; factor analysis; small investors; derivatives markets Behavioural finance; factor analysis; small investors; derivatives markets





Autor: Tai-Yuen Hon

Fuente: http://mdpi.com/



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