Benchmarking the competitiveness of the ASEAN 5 equity markets

Abstract

Purpose – The purpose of this paper is to study the competitiveness of the stock markets in ASEAN 5, which are the Stock Exchange of Thailand (SET), the Singapore Exchange (SGX), Bursa Malaysia (BM), the Indonesia Stock Exchange (IDX), and the Philippine Stock Exchange (PSE). Design/methodology/approach – This research applies Porter’s (1990) diamond model to analyze the competitiveness and the data were collected from World Economic Forum, International Institute for Management Development, the World Federation of Exchanges database, and DataStream. Findings – The results show that SGX is the most competitive exchange in ASEAN 5 region. It dominates other exchanges in every dimension. It gains its reputation for being the region’s most prominent exchange, followed by BM, SET, IDX, and the PSE, respectively. Practical implications – The results of this investigation provide rank for competitiveness of stock exchanges among ASEAN 5 and identify the way to improve its competitive position. Social implications – It is useful for public and private sectors involved in the development and policy making to promote funding and investment efficiency of the exchanges. It will be benefit to establish the well-planned development strategy and policy to build up the competitive advantage of the nations. Originality/value – Identifying and benchmarking the competitiveness of the stock markets in ASEAN economies. By using Diamond Model, the authors propose indicators to assess the competitiveness of the stock markets in ASEAN 5 countries. Assessing the competitiveness of the ASEAN stock markets in this paper will lead us to better understand about each country’s strengths and weaknesses and to promote a mutual collaboration among the region toward ASEAN Economic Community.

Inter-partner dynamics and joint venture competitiveness: a fuzzy TISM approach

“…Firm competitiveness is defined and explained in several ways, and it appears that there is no consistency in terms of what competitiveness is. For example, Porter’s Five Forces Framework, the RBV and benchmarking all consider competitiveness in different ways (Jarungkitkul and Sukcharoensin, 2016). This diversity in competitiveness research may be attributed to the interdisciplinary nature of the competitiveness domain, which has been studied from a variety of academic perspectives such as economics, strategy and organizational theory (Wahyuni and Ng, 2012).…”

A dynamic relationship between crude oil price and Indian equity market: an empirical study with special reference to Indian benchmark index Sensex

“…The volatility in oil prices had garnered the attention of academicians and policymakers to study its relationship with the stock market. Stock markets are the standardized representative of the economy, and there is a huge competitiveness among the stock exchanges, and ASEAN stock markets dominate other (Jarungkitkul and Sukcharoensin, 2016). A fall in crude oil prices is perceived to be positive for the Indian economy and stock markets.…”

Assessment and improvement of competitiveness of industrial complex

“…can be found in the literature. For example, today the approaches to assessing the competitiveness of companies, industries or the economy as a whole on the basis of a significant number of performance characteristics (identifying qualitative way, by questioning managers and outside experts and analysis of macroeconomic data) have become very popular (Chatzoglou and Chatzoudes, 2018; Fetscherin et al , 2012; Hornianschi, 2014; Hung et al , 2015; Kitson et al , 2004; Jarungkitkul and Sukcharoensin, 2016; de Brito and Brito, 2012; etc.). However, in most cases, they use approaches and techniques that are part of the methods discussed above.…”