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The University of Southampton
Centre for Risk Research

Ming-Wei Hsu PhD examining the influence of behavioural factors on traders in financial markets. 2013

PhD student funded by the Government of Taiwan

Ming-Wei Hsu's Photo

I decided to study in the Centre for Risk Research because of its international reputation for both research and teaching. Professor Johnnie Johnson, who is the Director of the Centre, is another important reason for my undertaking a PhD in the Centre. I attended his “Risk Taking and Decision Making” module as part of my MSc in Accounting and Management at the University of Southampton. In the module, Professor Johnson explored the behavioural factors which influence people when making their decisions. This module totally changed my way of thinking. I would say that the module was the most important one I ever have experienced, and I really wanted to explore behavioural science under the supervision of Professor Johnson. I was also attracted by the fact that the Centre for Risk Research cooperates with many corporations which provide valuable and unique empirical data for research and this has proved very helpful for my PhD research.

I was awarded a BSc and a MSc in Computer Science from National Taiwan University. I then joined a software company, CyberLink, and worked as an engineer for 5 years. Subsequently, I was awarded an MSc in Accounting and Management from the University of Southampton.

I am looking at learning effects of traders in financial markets. Currently I am employing spread trading data, and the preliminary results suggest that traders increase both returns and variance of returns as they gain experience, which leads to the improvement of the investment performance measured by Sharp ratio. I am also exploring the extent to which it is possible to predict the direction of financial market indices using machine learning techniques, such as Support Vector Machine and Artificial Neural Network.

My PhD supervisors are Professor Ming-Chien Sung, Professor Johnnie Johnson and Dr Tiejun Ma.

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