Competitiveness in the Ukrainian Stock Market and Local Crisis of 2013–2015

Alex Plastun, Inna Makarenko and Ievgen Balatskyi (2018). Competitiveness in the Ukrainian stock market and local crisis of 2013–2015. Investment Management and Financial Innovations, 15(2), 29-39. doi:10.21511/imfi.15(2).2018.03

12 Pages Posted: 9 May 2018

See all articles by Oleksiy Plastun

Oleksiy Plastun

Sumy State University

Inna Makarenko

National Bank of Ukraine - Ukrainian Academy of Banking of the National Bank of Ukraine

Ievgen Balatskyi

Sumy State University

Date Written: April 23, 2018

Abstract

This paper investigates competitiveness in the Ukrainian stock market during local crisis of 2013–2015. The following hypothesis is tested: crisis decreases competitiveness in the stock market. The analysis is carried out for the most liquid stocks in the Ukrainian Exchange (UX) over the period from 2010 to 2017 using both traditional measurements of market concentration (Hirschman Index, Lerner Index, Comprehensive Concentration Index, Entropy Index, Gini coefficient, etc.) and some alternative methods like regression analysis with dummy variables and Kruskal-Wallis test. The results suggest that the current degradation of the Ukrainian stock market is closely related with significant changes in the market concentration which are caused by the local crisis.

Keywords: Ukrainian Stock Market, Competitiveness, Concentration

JEL Classification: D41, D42, D53, E44, G10, G14

Suggested Citation

Plastun, Oleksiy and Makarenko, Inna and Balatskyi, Ievgen, Competitiveness in the Ukrainian Stock Market and Local Crisis of 2013–2015 (April 23, 2018). Alex Plastun, Inna Makarenko and Ievgen Balatskyi (2018). Competitiveness in the Ukrainian stock market and local crisis of 2013–2015. Investment Management and Financial Innovations, 15(2), 29-39. doi:10.21511/imfi.15(2).2018.03, Available at SSRN: https://ssrn.com/abstract=3167288

Oleksiy Plastun (Contact Author)

Sumy State University ( email )

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

Inna Makarenko

National Bank of Ukraine - Ukrainian Academy of Banking of the National Bank of Ukraine

57, Petropavlivska str.
Sumy, 40030
Ukraine

Ievgen Balatskyi

Sumy State University ( email )

Rymskyi-Korsakov str., 2
Sumy, 40000
Ukraine

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