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Rank Correlation Analysis of Investment Decisionfor Small Investors in the Hong Kong Derivatives Markets

Author

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  • Tai-Yuen HON

    (Hong Kong Shue Yan University, China.)

Abstract

The primary objective is to investigate the factors, investing characteristics and decision making processes that affect Hong Kong’s small investors who participate in derivatives markets. The data were collected from 1,130 respondents via a questionnaire survey. Based on the results, we can derive the ascending order of importance of reference group, return performance and personal background (reference group is the least important and personal background is the most important).We used an indicator (Kendall rank correlation coefficients) to measure the different ranking of factors and are therefore attempting to give advice for financial advisers approaching target customers (small investors) in the Hong Kong derivatives markets.

Suggested Citation

  • Tai-Yuen HON, 2015. "Rank Correlation Analysis of Investment Decisionfor Small Investors in the Hong Kong Derivatives Markets," Journal of Economics Bibliography, KSP Journals, vol. 2(3), pages 106-116, September.
    • Handle: RePEc:ksp:journ6:v:2:y:2015:i:3:p:106-116
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    File URL: http://www.kspjournals.org/index.php/JEB/article/view/397
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    References listed on IDEAS

    as
    1. George M Korniotis & Alok Kumar, 2011. "Do Older Investors Make Better Investment Decisions?," The Review of Economics and Statistics, MIT Press, vol. 93(1), pages 244-265, February.
    2. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
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    Cited by:

    1. Kai-Yin Woo & Chulin Mai & Michael McAleer & Wing-Keung Wong, 2020. "Review on Efficiency and Anomalies in Stock Markets," Economies, MDPI, vol. 8(1), pages 1-51, March.

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    More about this item

    Keywords

    Rank correlation; Investment decision; Small investors; Derivatives markets; Hong Kong.;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G10 - Financial Economics - - General Financial Markets - - - General (includes Measurement and Data)
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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