This paper presents the findings of a questiorznaire survey of
stockbroking firnu in five co~rntries in the Association of South
East Asian Nations (ASEAN): Singapore, Malaysia, Thailand,
Philippines and Indonesia. The main focus of the study is
twofold: first, to investigate the advantages and disadvantages of
the presence of international stockbroking firms in ASEAN, as
perceived by local stockbroking firms; and second, to survey the
strategies of these firms in response to the competition posed by
international broking firms. We find that local firms believe that
there are benefits arising front the entry of foreign firms in the
region. Among the more important benefits cited are higher
quality research, increase in trading volume and market
liquidity. The most intportar~t strategies of local firms are to
improve their research capability and to provide better staff
training. This augurs well for the stockbroking industry in the
ASEAN region.
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