The escalating competition among higher education institutions in global university rankings necessitates an examination of their actions and reactions within a competitive dynamics framework. Utilising regression panel data, this study scrutinises the initiatives of 100 universities across 22 Asian nations over a decade, drawing from the QS World University Rankings and SciVal databases. Exposure, research intensity, and high-impacted research are identified as drivers of competition escalation. Moreover, the impact of international collaboration and university-industry collaboration on this dynamic is analysed, revealing varied moderating effects. By delving into the influence of international academic collaboration and university-industry collaboration, this research unveils opportunities for adopting a cooperative-competitive strategy among universities to excel in global ranking competitions.