Analysis of investors’ preferences in the Montenegro stock market using data mining techniques

Ljiljana Kašćelan, Vladimir Kašćelan and Miomir Jovanović

Economic Research-Ekonomska Istraživanja, 2014, vol. 27, issue 1, 463-482

Abstract: This article analyses the preferences of different types of investors to stock characteristics in the Montenegrin stock market. The majority of papers deal with stock portfolio analysis of the institutional investors. Since the number of individual investors in the Montenegrin market is much higher, the analysis of their trading behaviour is also very significant. In this article, using data mining techniques, we tested trading behaviour with stocks for both types of investors. We prove that data mining techniques, such as logistic regression, clustering and decision trees, provide good results in this type of analysis. The analysis may be useful to the future investors, brokers and stock exchange.

Date: 2014
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DOI: 10.1080/1331677X.2014.970451

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