The effect of e-readiness and business context on the exchange market development: A comparison between developed and developing countries (2010 - 2014)

E-readiness and the business context have critical role in firms’ development and security exchange efficiency. In this paper we try to analyze the impact of these two contextual factors on multidimensional development of exchange market. To do this, we use the EIU model for e-readiness, doing business model for business context and depth, width and sophistication for exchange market development measurement. The data have been gathered between 2010 and 2014 and the countries include 20 developed and 20 developing country including Iran. We use factor analysis and structural equations modelling to test hypotheses separately in developed and developing countries. Results show that e-readiness has not a significant effect on exchange development in developing countries but the business context has. Alternatively in developing countries both of independent variables have significant positive effect on exchange market development.