Abstract: Taking the black box model of the satisfaction of small- and medium-sized investors, this thesis classifies and names the factors relevant to satisfaction according to the factor analysis of the first hand data collected by questionnaire and investigates into the key factors by using regression analysis. The results show that consulting and service factors are most important, and other factors, including hardware facilities, brand recognition and company location, are also significant. Therefore, securities companies should take corresponding measures to improve the satisfaction of small- and medium-sized investors.

Key words: brokerage business, satisfaction, small- and medium-sized investors, factor analysis, regression analysis