Because of globalization and liberalization of the world-economy policy reforms, emerging economies have been gained popularity in academic research, especially the economics and finance areas. Indeed, India is next to China in Asian emerging markets. As of economic-policy reforms implemented in...

Many interdisciplinary studies of the 2007–2008 global financial crisis examine the causes of crisis, corporate governance and firm value, stock market efficiency, new firm registration, macroeconomic performance, and compare this crisis to previous crises. However, we do not find conceptual...