A Factor Analysis of Investment Behaviour for Small Investors in the Hong Kong Stock Market

Tai-Yuen Hon ()
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Tai-Yuen Hon: Hong Kong Shue Yan University, CHINA.

Journal of Economics Library, 2015, vol. 2, issue 2, 68-78

Abstract: Hon (2012) found that small investors were overconfident and bought more stock during the buoyant market in the Hong Kong stock market. Small investors also exhibited herd behaviour. In this paper we extend his paper to identify and analyse the important factors that capture the behaviour of small investors in the Hong Kong stock market,especially during the financial crisis.Exploratory factor analysis is employed to analyse the data, we found that monitor investments is the second important factor and reference group is the most important factor.

Keywords: Factor analysis; Small investors; Stock market; Hong Kong. (search for similar items in EconPapers)
JEL-codes: E22 G02 G10 (search for similar items in EconPapers)
Date: 2015
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