M.Com, M.Phil, MBA(Finance), Ph.D(in Economics)

Financial Economics,Taxation,Finance, Econometrics

27 years

Teaching Experience: 24 years in substantive post in colleges
Other Experience:
Teaching experience in Post Graduate Dept:
Serving as visiting Faculty in the Dept. of Commerce, College Street campus and also in the Dept. of Business Administration,Alipore campus, University of Calcutta.
Other Research Activities: ( Editorial Activities)-

Editor-in-Chief/Editor/Editorial Board Members:

1. Advances in Applied Economics and Finance, World Science Publishers, USA.
2. Advances in Asian Social Science, World Science Publishers ,USA
3. Advances in Information Technology and Management, World Science Publishers ,USA.
4. Developing Country Studies, United Kingdom.
5. Research on Humanities and Social Science, United Kingdom.
6. Public Policy and Administrative Research, United Kingdom.
7. International Affair and Global Strategy, United Kingdom.
8. Research Journal of Business Management and Accounting, Wudpecker Research Journals, South Africa.
9. Advances in Art, Social Science and Education Research, Nigeria.
10. Journal of Expert System, World Science Publishers,USA.
11. Journal of Science, World Science Publishers,USA.
12. Global Business and Economics Research Journal, Indonesia.
13. Practical Ideas in Economics and Finance, Israel.
14. Econometrics, NewYork, USA.
15. Financial and Quantitative Analysis, USA.
16. Journal of Economic Philosophy,USA.
17. International Research Journal of Marketing, USA.
18. Journal of Business Management and Administration (JBMA),USA.
19. Merit Research Journal, Associate editor.
20. Basic Research Journal of Business Management and Accounts, Associate editor.
21. Journal of Business and Economic Management, Turkey.
22. European Journal of Innovative Business Management, UK
23. Standard Research Journal of Business management, Kenya, (Editor-in-Chief).
24. Journal of Empirical Economics.
25. Global Scholars Journal of Business Management and Public Administration(Editor in chief)
26. Innovative Journal of Social Science,USA.
27. Open Journal of Industrial and Business Management, SCIKNOW, USA.
28. Palgo Journal of Business Management.
29. Advanced Journal of Business Management and Entrepreneurship,TURKEY.
30. International Research Journal of Business and Economic Development,USA
Acted as Referee/ Reviewer in Journals of International Status:

1. Reviewed the article entitled Efficiency and Technological change in Health care services in Ontario: An application of Malmquist productivity index with Bootstrapping
Manuscript ID: IJPPM- JUL-2010-2011, International Journal of Productivity and Performance Management, United Kingdom.
2. Reviewed the article entitled Impact of liberalization on employment in India, Manuscript ID:IJPIR-09-067,International Journal of Political Science and International Relations, South Africa.July,21,2012.
3. Reviewed the article entitled Energy efficiency evaluation for regions in China: An application of DEA and Malmquist indices, Manuscript ID:ENEF-D-12-00055, Energy Efficiency, Springer,April,23, 2013.
4. Reviewed the article entitled Is Reform on Board of Directors Effective in Corporate Governance of Japanese Manufacturing Firms? Manuscript ID:fqa1362598624[1] Financial and Quantitative Analysis,USA ,March 27, 2013.
Reviewed the article entitled Economic intergenerational mobility and its relationship with economic freedom in USA, Econometrics, March 13, 2013 , USA,

6. Reviewed the article entitled Planning and Cost Control in a Corporate Organization:A Must for Economic Growth and Development, Research Journal of Business Management and Accounting, Manuscript ID:RJBMA-13-039,dt.22.6.2013,South Africa..

7. Reviewed the article entitled A research work on the effects of the global financial crisis on the economies of developing countries in the world. A case study of the Nigerian economy, Research Journal of Business Management and Accounting, Manuscript ID:RJBMA-13-038,dt.23.6.2013, South Africa.
8. Reviewed the article entitled Scenario of Human Resource Management Practice: Evidence from the Organizations of Rajshahi City Corporation, Bangladesh, Journal of Research in International Business and Management, Manuscript ID:JRIBM-13-42,dt.22.6.2013.
9. Reviewed the article entitled Environmental efficiency analysis of Chinas industrial sectors based on three-stage DEA,Manuscript Number ENEF-D-13-00149, Energy Efficiency, Springer,November,6, 2013.
Also till date reviewed more than 100 articles of different journals of different countries.

Ph.D scholars under Supervision: 2(Two): Awarded-01, Continuing:01 As JRF Awardees under University of Calcutta

Peer Reviewed Paper Presentations
(i). International conference at Kalyani University,December,17-18,2009.
Thrust Area: Globalization,Development and the Emerging Market Economies
Title of the presentation: Trade liberalization and total factor productivity growth in specific energy intensive industry:An analytical study on Indian glass industry with adjustment for capacity utilization.
(ii).National level Conference at Kalyani University,March,5-6,2009
Thrust Area: Contemporary issues in Economic Development
Title of the presentation: Economic liberalization and Industrial performance : An analysis of the performance of Cement industry in India.
(iii). National level Conference at Vidyasagar University,March,11-12,2010.
Thrust Area: Growth and Inequality in Developing Economies.
Title of the presentation:Labour productiivity growth and wage inequality under liberalized trade scenario: Evidence from Indian manufacturing sector.
(iv). National level Conference at Vidyasagar University,March,19-20,2009.
Thrust Area: Recent Economic Crisis and the Indian Economy.
Title of the presentation:Crisis in Indian Steel Industry amidst Global Meltdown.
(v). National level Conference at Vidyasagar University,March,19-20,2008.
Thrust Area: Issues of Development in Developing Countries.
Title of the presentation:Liberalization,Competition and Capacity Utilization in Indian Iron and Steel Indiustry.
(vi) National level Conference at City College,Kolkata,December,2-3,2011.
Thrust Area:Emerging Issues in IFRS
Title of the presentation: Indian GAAP and Its Convergence to IFRS: A case study
(vii). National level Conference at Vidyasagar University,February,16-17,2012.
Thrust Area: Issues of Development in globalized India
Title of the presentation:Globalization and Economic Growth in India: A Granger Causality Approach
(viii) National level Conference at Hooghly Mahasin College, February, 24-25, 2012
Thrust Area: Inclusive Growth in India
Title of the presentation:Exploring the Nexus between Education and Economic Growth in India
(ix) National level Conference at K.D College, Midnapore,September,16-17,2011.
Thrust Area: Direct Tax Code in India
Title of the presentation: An Appraisal of
New Direct Tax Code in India : A new challenge in Direct Taxation.
(x) National level Seminar at Bagnan College, September, 23-24, 2011.
Thrust Area:Emerging Issues in Human Resource Management.
Title of the presentation:Human resource management practices and its effect on Employees Job satisfaction: Evidence from selected small and medium sized iron &steel firms in India.
Peer Reviewed Proceedings

1. Indian GAAP and Its Convergence to IFRS: A case study,(jointly with Prabir Ghosh)
Thrust Area:Emerging Issues in IFRS, City College,Kolkata,December,2-3,2011.

Total number of research articles in recognized double blind peer reviewed research journals: 175.
(a) International Publication: 162.
(b) National level Publication : 13.
Some notable Publications:
(1).Ray Sarbapriya(2011), Growth and Productivity performance in Indian Chemical Industry: An empirical investigation under new trade regime, Seoul Journal of Economics,SCOPUS,vol.24,no.3,(Fall),pp357-387, ISSN:1225-0279, Seoul National University, South Korea[also available in SSRN].
(2)Ray, Sarbapriya and Pal, M.K(2010):Trade Liberalization and Industrial performance: an insight into the performance of Cement industry in India, International Journal of Productivity and Quality Management, Inderscience Publisher, SCOPUS,vol. 6,no 3, 2010,pp332-53, ISSN 1746-6474,United Kingdom.
(3)Ray, Sarbapriya and Pal,M.K(2011), An application of Economic Capacity utilization to the measurement of Total Factor Productivity Growth: Empirical evidence from Indian Fertilizer Industry’, The Romanian Journal of Economic Forecasting, SCOPUS ,Institute for Economic Forecasting, vol.14,no.1,pp125-142,ISSN:1582-6163,Romania.
(4)Ray Sarbapriya (2011): Prediction of corporate distress in glass & glassware sector of India, International Journal of Business Excellence, SCOPUS, vol.4,no.6,pp678-95, ISSN 1756-0047,Inderscience, United Kingdom.
(5)Ray, Sarbapriya(2011), Economic efficiency in Indian rubber industry, Contemporary Economics , SCOPUS, vol.5,no.4,pp82-91,ISSN 1897-9254, Poland[also available in SSRN].
(6).Ray Sarbapriya (2012), Productivity growth in some energy intensive manufacturing industries in India: An analytical assessment, International Journal of Economics and Financial Issues, SCOPUS vol.2, issue.1, pp.54-70, ISSN: 2146-4138, Turkey.
(7)Ray Sarbapriya and Ishita Aditya Ray (2012), Malmquist indices of Productivity change in India’s Chemical industry: A subsector level analysis, International Journal of Economic Policy in Emerging Economies, SCOPUS ,vol.5,no.1, pp.16-36, ISSN 1752-0452,Inderscience , United Kingdom.
(8)Ray Sarbapriya(2012), Capacity growth and utilization performance under econometric framework : A case study on Indian glass industry,International Journal of Economics and Business Research, SCOPUS ,vol.5,no4, pp.540-559, ISSN print: 1756-9850, Inderscience, United Kingdom .
(9)Ray Sarbapriya (2012), Determinants of Capital Structure of Aluminium Industry in India: A Post Liberalization period Analysis, International Journal of Accounting, Auditing and Performance Evaluation, Inderscience, SCOPUS, vol.8,no.4,pp355-72, ISSN 1740-8008, [UGC approved journal ]
United Kingdom.
(10)Ray, Sarbapriya (2012), Measuring and decomposing sources of productivity performance in India’s Paper and Pulp Industry: Evidence from the Nonparametric Approach, International Journal of business and Economic sciences Applied Research, ,vol.5, no.1, ISSN: 1791-5120 pp.147-71, Greece [Also available in SSRN].

(11)Ray Sarbapriya (2012), Globalization and economic growth in India, Journal of Law, Policy and Globalization,vol.2,no1,pp.18-30, ISSN 2224-3240, United States.
(12)Sarbapriya Ray, Malayendu Saha (2016), Dynamic Association between Macroeconomic Variables and Stock Return Volatility: Evidence from India, American Journal of Business, Economics and Management, Vol. 4, No. 4, pp. 40-56, United States.
(13). Ray, Sarbapriya and Pal, M.K (2008):On the measurement of capacity utilization : an evidence from Indian chemical industry, Arthavijnana, Ghokhale Institute of Politics and Economics, vol. L, no.2,pp116-28, ISSN: 0004-3559,June, Pune.
(14). Ray, Sarbapriya and Pal, M.K(2009):Impact of liberalization on capacity utilization of Indian iron and steel industry, The Indian Economic Journal, Indian Economic Association, vol.57, no.1,pp158-75, ISSN 0019- 4662,April-June, New Delhi., SAGE Publications India Pvt. Ltd. and IEA.

(15). Ray, Sarbapriya and Pal, M.K (2010): Trade Reforms and Total Factor Productivity Growth in India’s Aluminium Industry with Adjustment for Capacity Utilization, Arthavijnana, Vol.LII, No.1: March, pp.7-26,ISSN: 0004-3559, Ghokhale Institute of Politics and Economics, Pune.
(16).Ray, S., & Bag, A. (2021). Is Industrial Structure Moving from Manufacturing towards the Service Sector?. World Economics, 22(2), 161-181.ISSN: 1468-1838 (UGC Care I Journal, SCOPUS and ABDC Journal), London,UK.
(17).Bag, A., & Ray, S. (2021). Dynamic Effects of Manufacturing and Service Sector on Economic Growth in India: A Cross Section Analysis from Selected Indian States. The Indian Journal of Commerce, 74(1&2), 203-222.ISSN:2454-6801 (UGC Care I journal), New Delhi.
(18).Bag, A., & Ray(2022), S. Do Exogenous Factors matter in the Productivity Growth Trajectory of Indian Manufacturing?.International Journal of Indian Culture and Business Management, Inderscience, ISSN: 1753-0806 (UGS Care II under Web of Science) (published online), United Kingdom..
(19).Bag, A., & Ray, S. (2022), Total Factor Productivity Growth in Indian Manufacturing. World Economics, 23(1), 121-154.ISSN: 1468-1838 (UGC Care I Journal, SCOPUS and ABDC Journal),UK.
(20). Ray, Sarbapriya(2023), Is Make in India a Saga?, World Economics, Vol.October-December,2023, vol.24,no.4,pp.77-101, (UGC Care I Journal, Scopus and ABDC
Journal),UK.
Detailed list of publication:
A. International status:

1.Ray, Sarbapriya and Ishita AdityaRay,(2011), Human Resource Management Practices and Its Effect on Employees’ Job Satisfaction: A Study on Selected Small and Medium Sized Iron &Steel Firms in India, Public Policy and Administration Research,vol.1.no.1,pp.22-33, ISSN 2224-5731,United Kingdom

2. Ray Sarbapriya (2012), Exploring the Validity of Purchasing Power Parity in Selected Asian Countries: A Close Look, International Journal of Applied Research in Business Administration and Economics, vol.1,no.2,pp61-81,ISSN:1839-8456, Australia.

3. Ray, Sarbapriya (2012), Testing the validity of uncovered interest rate parity in India, Advances in Applied Economics and Finance, vol.1,no.4,pp.236-46, ISSN 2167-6348, USA.

4. Ray Sarbapriya (2012), Empirical Testing of International Fisher Effect in United States and Selected Asian Economies., Advances in Information Technology and Management,Vol. 2, No. 1, 2012, ISSN 2167-6372, pp216-28,USA.
5.Ray Sarbapriya(2011), Growth and Productivity performance in Indian Chemical Industry: An empirical investigation under new trade regime, Seoul Journal of Economics,SCOPUS,vol.24,no.3,(Fall),pp357-387, ISSN:1225-0279, Seoul National University, South Korea[also available in SSRN].
6. Ray Sarbapriya(2011),Measuring Capacity Utilization and evaluating the impact of Liberalization on Capacity utilization of Indian Drug and Pharmaceutical Industry, Journal of Emerging Knowledge on Emerging Markets, Berkeley Electronic Press,vol.3,pp.1-25,November, ISSN 1946-651X, USA.

7. Ray, Sarbapriya (2011), Industry specific determinants of corporate capital structure choice: Evidence from Iron &steel industry of India, International Journal of Contemporary Business studies, vol.2, no.9, pp.36-57, September, ISSN 2156-7506, USA.

8. Ray Sarbapriya(2012), A Bivariate Exploration into Stock Prices and Exchange Rate Dynamics in Selected Asian Economies, International Journal of Contemporary Business Studies, vol.3,no.3, pp43-60, ISSN 2156-7506,USA.

9. Ray Sarbapriya (2012), Investigating seasonal behaviour in monthly stock returns: Evidence from BSE Sensex of India, Advances in Asian Social science, vol. 2,no.4, pp.560-69, ISSN 2167-6429, USA.

10. Ray Sarbapriya (2012), Indian GAAP and its convergence to IFRS: Empirical evidence from India, Advances in Asian Social Science,vol.2, no.1,pp257-76, ISSN 2167-6372,USA.
11. Ray, Sarbapriya,(2011),A Causality Analysis on the Empirical Nexus between Export and Economic Growth: Evidence from India, International Affairs and Global Strategy,vol.1,pp.24-38, ISSN 2224-574X, United Kingdom [IC Impact Factor Value:5.53].
12. Ray, Sarbapriya (2012), Impact of FDI on economic growth in India: A Cointegration alnalysis, Advances in Information Technology and Management,vol.2,no.1,pp187-201,ISSN 2167-6372,USA.

13.Ray, Sarbapriya and Pal, M.K (2010): Trend in Total factor productivity growth in Indian Iron and Steel Industry under liberalized trade regime: An empirical analysis with adjustment for capacity utilization, Journal of Applied Business and Economics, vol. 11,no3, pp 55-74, ISSN: 1499-691X,North American Business Press,USA .
14. Ray, Sarbapriya and Pal, M.K(2010):Trade Liberalization and Industrial performance: an insight into the performance of Cement industry in India, International Journal of Productivity and Quality Management, Inderscience Publisher, SCOPUS,vol. 6,no 3, 2010,pp332-53, ISSN 1746-6474,United Kingdom .

15. .Ray, Sarbapriya and Pal, M.K(2009):Trend in Economic Capacity Utilization under liberalized trade scenario in Indian Aluminium industry, The Empirical Economics Letters, vol.8,no 11(November),pp1127-35, ISSN 0019- 4662,Rajshahi University, Bangladesh.
16. Ray, Sarbapriya and Pal,M.K(2011), An application of Economic Capacity utilization to the measurement of Total Factor Productivity Growth: Empirical evidence from Indian Fertilizer Industry’, The Romanian Journal of Economic Forecasting, SCOPUS ,Institute for Economic Forecasting, vol.14,no.1,pp125-142,ISSN:1582-6163,Romania, [ISI Impact Factor:2011:0.246,2010:0.438,2009:0.620].
17. Ray, Sarbapriya and Pal, M.K(2010): Measuring total factor productivity growth, technical efficiency and technological change in India’s Iron and steel industry: A nonparametric approach, Journal of Social and Economic Policy, vol.7,no.2, December 2010,pp207-21, ISSN: 0973-3426. Serials Publications Pvt. Ltd.
18. Ray, Sarbapriya and Pal,M.K(2011), Appraisal of capacity utilization performance in energy intensive industries in India: 1979 -80 to 2003 -04, International Journal of Economics, Vol.5,no.1 June,2011,pp11-30, ISSN: 0973-6719.

19. Ray Sarbapriya (2011): Prediction of corporate distress in glass & glassware sector of India, International Journal of Business Excellence, SCOPUS, vol.4,no.6,pp678-95, ISSN 1756-0047,Inderscience, United Kingdom.
20. Ray, Sarbapriya (2011),An empirical evaluation of financial health of fertilizer industry in India, International Journal of Research in Commerce, Economics and Management, ISSN 2231 – 4245,vol.1,no.2(June), pp.114-18.

21. Ray, Sarbapriya (2011), An appraisal of new direct tax code in India: A new challenge in direct taxation, International Journal of Research in Commerce and Management, vol.2,no.8(August), ISSN 2231-2183,pp114-119.

22. Ray Sarbapriya(2011), Performance Appraisal of a specific energy intensive industry under liberalized scenario: A level analysis on Indian paper industry, International Journal of Development Research and Quantitative Technique,vol.1,no.1,Spring, ISSN: 0974-3472 ,Brown Walker Press,USA.

23. Ray Sarbapriya (2011), Impact of liberalization on total factor productivity growth of Indian Rubber industry: An econometric assessment (2011), International Journal of Contemporary Business Studies, Vol.2, no.8, pp.54-67, ISSN 2156-7506, August, USA.

24. Ray Sarbapriya and Ishita Aditya Ray(2011), Women entrepreneurship in India: Some critical issues and challenges’, International Journal of Contemporary Business Studies, vol.2,no.8,August,pp.1-6,ISSN 2156-7506,USA.

25. Ray, Sarbapriya Ray and Ishita Aditya Ray (2011),Role and Effectiveness of Public Distribution System in assuring Food Security in India, Journal of Economics and Sustainable Develoment,vol.2,no.4, pp.238-51, ISSN 2222-1700, United States [IC Impact Factor Value:7.15].
26. Ray, Sarbapriya (2011), Assessing corporate financial distress in Automobile industry of India: An application of Altman model, Research Journal of Finance and Accounting, IISTE,vol.2,no.3, pp.155-68, ISSN 2222-1697, United States [IC Impact Factor Value:6.26].
.
27. Ray, Sarbapriya (2011), Reviewing Performance of Indian Sugar Industry: An Economic Analysis, Food Science and Quality Management, vol.3, no.6, pp.35-53, ISSN 2224-6088, United States [IC Impact Factor Value:4.5].

28. Ray, Sarbapriya (2011), Econometric Analysis of Productivity Growth in Indian Leather Industry, Journal of Economics and Sustainable Development,vol.3,no.1, pp.87-96,ISSN 2222-1700, United States [IC Impact Factor Value:7.15].
29. Ray, Sarbapriya (2011),Emerging Trend of E-Commerce in India: Some Crucial Issues, Prospects and Challenges, Computer Engineering and Intelligent System, Vol 2, No.5, pp.17-35,ISSN 2222-1719, United States [IC Impact Factor Value:6.39].

30. Ray, Sarbapriya Ray and Ishita Aditya Ray (2011), B.R.Ambedkar and his Philosophy on Indian Democracy: An Appraisal, Journal of Education and Practice, vol.3.no.1, pp.74-82, ISSN 2222-1735, United States, [IC Impact Factor Value:7.15].

31. Ray, Sarbapriya (2011), Regional analysis on the relationship between democracy and economic growth: evidence from India, Afro-Asian Journal of Social Science, vol.2,no.3,pp.1-24, ISSN: 2229 - 5313.
32. Ray, Sarbapriya Ray and Ishita Aditya Ray (2011), B.R.Ambedkar and his Philosophy of Land reform: An evaluation, Afro-Asian Journal of Social Science, vol.2, no.1.2, pp.1-19, ISSN: 2229 - 5313.
33. Ray, Sarbapriya (2011), Towards searching the relevance of Intellectual Property Audit in India: An appraisal, Research Journal of Finance and Accounting, vol.2, no.4, pp.86-97, ISSN 2222-1697, United States [IC Impact Factor Value:6.26].
34. Ray, Sarbapriya and Ishita Aditya Ray (2011), An insight into the vision of Charismatic leadership: Evidence from recent administrative change in West Bengal province of India, European Journal of Business and Management, vol.3, no.9,pp.55-67, ISSN 2222-1905, United States [IC Impact Factor Value:7.17].

35. Ray, Sarbapriya and Ishita Aditya Ray (2011), Impact of Population Growth on Environmental Degradation: Case of India, Journal of Economics and Sustainable Development,vol.3, no.2,pp.72-77, ISSN 2222-1700, United States, [IC Impact Factor Value:7.15].

36. Ray, Sarbapriya (2011),Mutual Fund in India: An Analysis of Performance and Some Emerging Issues in Unit Trust of India, Research Journal of Finance and Accounting, vol.2, no.5,pp.34-46, ISSN 2222-1697, United States [IC Impact Factor Value:6.36].

37. Ray, Sarbapriya (2011), Financial performance of Paper and Paper product companies in India in post liberalization period: An exploratory study, Research Journal of Finance and Accounting, vol.2, no.5,pp.48-59, ISSN 2222-1697, United States, [IC Impact Factor Value:7.15].

38. Ray, Sarbapriya and Ishita Aditya Ray (2011), An insight into B.R Ambedkar’s idea of Nationalism in the context of India’s freedom movement, Developing Country Studies, vol.1.no.1, pp.26-35, ISSN 2224-607X, United States [IC Impact Factor Value:5.05].

39. Ray, Sarbapriya,(2011), Measuring energy intensity in selected manufacturing industries in India, Journal of Energy Technology and Policy,vol.1,no.1,pp.31-44, ISSN 2224-3232, United States [IC Impact Factor Value:5.54].

40. Ray, Sarbapriya,(2012),Growth of Industrial Production in selected manufacturing industries in India: Is it productivity driven or inputs accumulated?, Industrial Engineering Letters,vol.2,no.1,pp.22-33, ISSN 2224-6096, United States [IC Impact Factor Value:5.57].
41. Ray, Sarbapriya, Ishita aditya,(2011), Emergence and Applicability of Competition Act, 2002 in India’s New Competitive Regime: An Overview, Journal of law, Policy and Globalization, vol.1,pp15-28,ISSN 2224-3240 (Paper) ISSN 2224-3259 (Online), United States [IC Impact Factor Value:5.42].

42. Ray, Sarbapriya,(2011),Econometric Analysis of Efficiency in Indian Cement Industry, Research on Humanities and Social Science, vol.1,no.2,pp.11-22,ISSN 2224-5766, United States [IC Impact Factor Value:5.42].

43. Ray, Sarbapriya,(2011),A Post-Liberalization Period Analysis of Industry Specific Economic Factors Affecting Capacity Utilization in Indian Aluminium Industry, Developing country studies,vol.2,no.1, pp9-16, ISSN 2224-5766, United States [IC Impact Factor Value:5.05].

44. Ray, Sarbapriya,(2011), Emergence of International Financial Reporting Standard in India’s Accounting Scenario, Research Journal of Finance and Accounting, vol,2,no12,pp.47-65, ISSN 2222-1697, United States [IC Impact Factor Value:6.26].

45. Ray, Sarbapriya,(2012),An analysis of determinants of Balance of Trade in India, Research Journal of Finance and Accounting,vol.3,no.1, pp.73-83,ISSN 2222-1697, United States [IC Impact Factor Value:6.26].
46. Ray, Sarbapriya (2011), Exploring industrial performance in Textile sector of India under liberalized trade regime: A study through economic capacity utilization”, Journal of International Academic Research, vol.11,no.3, pp.43-65,United Kingdom.
47. Ray, Sarbapriya(2011), Economic efficiency in Indian rubber industry, Contemporary Economics ,vol.5,no.4,pp82-91,ISSN 1897-9254, Poland[also available in SSRN].
48. Ray Sarbapriya(2012), Economic Performance of Indian Automobile Industry: An econometric appraisal, Business Intelligence Journal,, vol.5, no.1,pp.151-62,January, United Kingdom.
49. Ray Sarbapriya (2012), Productivity growth in some energy intensive manufacturing industries in India: An analytical assessment, International Journal of Economics and Financial Issues, SCOPUS vol.2, issue.1, pp.54-70, ISSN: 2146-4138, Turkey.
50. Ray Sarbapriya (2012), Globalization and economic growth in India, Journal of Law, Policy and Globalization,vol.2,no1,pp.18-30, ISSN 2224-3240, United States [IC Impact Factor Value:5.42].
51. Ray Sarbapriya and Ishita Aditya Ray(2012) , An Appraisal of Influence of various personalities on B.R. Ambedkar, Historical research Letters, vol.2,pp.1-10, ISSN 2224-3178, United States [IC Impact Factor Value:5.44].

52. Ray Sarbapriya(2012) ,A close look into the Double Taxation Avoidance Agreements with India: Some relevant issues in International Taxation, International Affairs and Global Strategy,vol.2,pp.1-18, ISSN 2224-574X, United States [IC Impact Factor Value:5.53].

53. Ray Sarbapriya (2012),Foreign exchange reserve and its impact on stock market capitalization in India, Research on Humanities and Social Science.vol.2,no.2.,pp.46-60, ISSN 2224-5766,United Kingdom[IC Impact Factor Value:5.45].

54. Ray Sarbapriya and Ishita Aditya Ray (2012), Malmquist indices of Productivity change in India’s Chemical industry: A subsector level analysis, International Journal of Economic Policy in Emerging Economies, SCOPUS ,vol.5,no.1, pp.16-36, ISSN 1752-0452,Inderscience , United States.

55. Ray Sarbapriya(2012), Capacity growth and utilization performance under econometric framework : A case study on Indian glass industry,International Journal of Economics and Business Research, SCOPUS ,vol.5,no4, pp.540-559, ISSN print: 1756-9850, Inderscience, United Kingdom .

56. Ray, Sarbapriya, Ishita Aditya (2012), Understanding Democratic Leadership: Some key issues and perception with reference to India’s freedom movement, Afro-Asian Journal of Social Science,vol.3,no3.1,quarter,1,pp.1-25 ,ISSN: 2229 - 5313.

57. Ray, Sarbapriya (2012), Measuring and decomposing sources of productivity performance in India’s Paper and Pulp Industry: Evidence from the Nonparametric Approach, International Journal of business and Economic sciences Applied Research, ,vol.5, no.1, ISSN: 1791-5120 pp.147-71, Greece [Also available in SSRN]. IMPACT FACTOR-0.319

58.Ray, Sarbapriya,(2012), Determinants of Total Factor Productivity Growth in Selected Manufacturing Industries in India, Research and Practice in Social Science, vol.7,no.2,pp.25-43, ISSN-1715-4731,Canada.

59. Ray, Sarbapriya(2012), Economic Capacity Utilization Adjusted Total Factor Productivity Growth in Selected Manufacturing Industries in India, Research Journal of Business Management and Accounting,vol.1,no.1,pp.8-18,April, ISSN 2277 0712,Wudpecker Research Journal, South Africa.
60. Ray, Sarbapriya, Ishita aditya(2012),On the relationship between government’s developmental expenditure and economic growth in India: A Co integration approach, Advances in Applied Economics and Finance,vol.1,no.2, pp86-94, ISSN 2167-6348,USA.
61. Ray, Sarbapriya and Ishita Aditya Ray,(2012), Some aspects of carbon trading: Issues and challenges with reference to India. Advances in Applied Economics and Finance, vol.1,no.2,pp.95-106, ISSN 2167-6348,USA.
62.Ray Sarbapriya(2010), Some aspects of crisis in Indian Iron and steel industry under liberalized scenario, Economic Journal of Nepal, vol.33,July-Sep,pp.1-23,Nepal.
63. Ray Sarbapriya&Ishita Aditya Ray (2012),Is Population growth beneficial or detrimental for economic growth ? An Indian experience, Advances in Asian social sciences,Vol.1,no.3,pp.285-92, ISSN 2167-6429,USA,
64. Ray Sarbapriya,Ishita aditya (2012), Empirical nexus between export and productivity growth: Evidence from selected manufacturing industries in India, Advances in Asian social Science, Vol.1, no.3,pp.301-11, ISSN 2167-6429,USA.

65. Ray Sarbapriya (2012), Factors influencing productivity efficiency in specific manufacturing industry: a case study on Indian Aluminium sector, Advances in information technology and management,vol.1,no.3,pp98-104, ISSN 2167-6372,USA.

66. Ray Sarbapriya(2012),Audıtors’s role in corporate governance of India’s business perspective,Public Policy and Administration Research, vol.2,no.2,pp47-58, ISSN 2224-5731,United Kingdom[IC Impact Factor Value:5.54].
67. Ray, Sarbapriya and Mihir kumar Pal (2012), Evaluating productivity performance of specific energy intensive industry: an analytical underpinning on Indian glass industry under varying trade regime, International Journal of Economics,vol.6,no.2,pp31-52, ISSN: 0973-6719.
68. Ray, Sarbapriya (2012), Applicability of International Financial Reporting Standard in India: Some issues and challenges, Journal of Expert System, vol.1,no.1,pp.1-15, ISSN 2169-3064 USA.
69. Ray Sarbapriya, (2012), Inflation and Stock Price Behaviour in Selected Asian Economies: An Econometric Snapshot, Advances in Asian social Science, vol.2,no.1 ,pp.387-97, ISSN 2167-6429,USA.
70. Ray, Sarbapriya (2012), Balanced vision from Balanced scorecard for corporate strategic management, Journal of Expert System , ISSN 2169-3064 ,vol.1,no.1,pp16-25. USA.
71. Ray, Sarbapriya,(2012),Econometric analysis of industrial performance in electronic industry of India, Advances in Applied Economics and Finance, vol.1,no.3,PP.159-68, ISSN 2167-6348 ,USA.
72. Ray Sarbapriya (2012), Evaluating the Impact of Working Capital Management Components on Corporate Profitability: Evidence from Indian Manufacturing Firms, International Journal of Economic Practices and Theories, vol.2, no.3.pp127-36,ISSN 2247-7225, Romania. IMPACT FACTOR-0.217

73. Ray Sarbapriya (2012), Relevance of Fair Value Accounting: An Appraisal, Advances in Information Technology and Management,vol.1,no.4,pp.146-52, ISSN 2167-6372,USA.

74. Ray, Sarbapriya and Ishita Aditya Ray (2012), Dr. B. R. Ambedkar and his thought on socialism in India-A critical evaluation, International Journal of Human Science,vol.9,no.3, pp.236-52,ISSN1303-5134, Turkey.
75. Ray, Sarbapriya and Ishita Aditya Ray (2012), Impact of climate change on food security of India, Advances in Asian Social science,vol. 2,no.2,pp461-68, ISSN 2167-6429, USA.
76. Ray Sarbapriya and Ishita Aditya Ray (2012), A Close look into Corporate Social Responsibility in India: An Evaluation’ Advances in Asian Social Science,vol. 2,no.3,pp.479-88, ISSN 2167-6429,USA.
77.Ray,Sarbapriya(2012),An insight into the Performance of
Indian Automobile industry, Advances in Arts, Social Sciences and
Education Research, Science Education Development Institute,ISSN 2276-6715,vol.2,no.5, pp.191-97,Nigeria.

78.Ray, Sarbapriya (2012), Relevance and Applicability of Activity Based Costing: An Appraisal, Journal of Expert System, vol.1,no.3,pp71-78, ISSN 2169-3064,USA.

79. Ray, Sarbapriya (2012), Managing International Working Capital Flow: An evaluation, Journal of Science, vol.1, no.1,pp.13-20,USA.

80. Ray, Sarbapriya,(2011),Exploring co integration and causality between foreign trade and economic growth: Econometric evidence from India, International journal of contemporary Business studies, vol.2,no.10,pp.53-69, ISSN 2156-7506,USA.
81. Ray, Sarbapriya,(2012), Effectiveness of Green Shoe Option as a Technique of Price Stabilization in India, Advances in Applied Economics and Finance, vol.2,no.1,pp.281-86, ISSN 2167-6348 ,USA.

82. Ray Sarbapriya (2012), Determinants of Capital Structure of Aluminium Industry in India: A Post Liberalization period Analysis, International Journal of Accounting, Auditing and Performance Evaluation, Inderscience, SCOPUS, vol.8,no.4,pp355-72, ISSN 1740-8008,
United Kingdom.

83. Ray Sarbapriya (2012), Testing Granger Causal Relationship between Macroeconomic Variables and Stock Price Behaviour: Evidence from India, Advances in Applied Economics and Finance, vol.3, no.1, pp.470-81, ISSN 2167-6348, USA.

84. Ray Sarbapriya (2012), Efficacy of Economic Value Added Concept in Business Performance Measurement, Advances in Information Technology and Management,vol.2,no.2,pp.260-67, ISSN 2167-6372,USA.

85. Ray Sarbapriya (2012), Revisiting the Strength of Dow Theory in Assessing Stock Price Movement, Advances in Applied Economics and Finance , Vol. 3, No. 3, ISSN 2167-6348,pp.591-98, USA.

86. Ray Sarbapriya (2012), Causal Linkage between International Financial Integration and Economic Growth: Evidence from Post Globalized Indian Scenario, Advances in Asian Social Science, Vol. 3, No. 4, 2012, ISSN 2167-6429, pp.739-50, USA.

87. Sarbapriya Ray, Mihir Kumar Pal,Ishita Aditya Ray(2012), A Causality Analysis on Tax-Growth Nexus in India: 1950-51 to 2011-12, Journal of Expert Systems, Vol. 1, No. 4, 2012, ISSN 2169-3064,pp.104-114, USA.

88. Sarbapriya Ray (2012), Cultural Dimension Analysis of AOL-Time Warner Merger, Journal of Applied Library and Information Science, ISSN: 2325-7474, vol.1,no.2,pp39-41, USA.

89. Sarbapriya Ray (2012), A Close Look into Black-Scholes Option Pricing Model, Journal of Science, Vol. 2, No. 4, ISSN 2324-9854,pp.172-78 ,USA.

90. Sarbapriya Ray (2013),Over viewing the scope of international portfolio investment,Advances in Applied Economics and Finance,vol.4,no.1,pp634-38, USA.

91 Sarbapriya Ray (2013), A Close Look into Research Studies on Capacity Utilization in India and Abroad, International Journal of Economics, Finance and Management, ISSN-2225-7217,
Vol.2 No.1, January-March,pp52-59,Pakistan.
92. Sarbapriya Ray (2013), Does Educational Spending of Government Really
Accelerate Economic Growth in India?, Financial and Quantitative Analysis, vol.1, no.1,pp1-7,April,ISSN-2327-6592,USA.
93. Sarbapriya Ray (2013), Causal Nexus between Gold Price Movement and Stock Market: Evidence from Indian Stock Market, Econometrics, Print ISSN: 2328-5044,Online ISSN: 2328-5052, vol.1, no.1, pp.12-19,USA.
94. Sarbapriya Ray (2013), Strategic Alliance in India under Globalized Economic Scenario, Advances in Asian Social Science, Vol. 4, No. 2, ISSN 2167-6429, pp.824-35, USA.
95. Sarbapriya Ray (2013), Revisiting Productivity Studies in India and Abroad: An Overview, Journal of Economic Philosophy, Online ISSN: 2329-941X, vol.1(1):pp.1-11,USA.
96. Ray, Sarbapriya and Ishita Aditya Ray (2013), Revisiting the law regarding prohibition of violence against women in India, Afro Asian Journal of Social Sciences, Volume 4, No. 4.2 Quarter II, ISSN: 2229 – 5313,PP.1-20.

97. Sarbapriya Ray (2013), Does Financial Development Promote Economic Growth in India? International Journal of Economic Practices and Theories, vol.3, no.3, pp141-51, ISSN 2247-7225,Romania.

98. Ray, Sarbapriya (2013), Investigating Capital Structure Determinants in Listed Cement Companies of India, Financial and Quantitative Review, , vol.1,no.3,pp47-58, ISSN-2327-6592,USA.

99. Ray, Sarbapriya (2013), Impact of Balance of Trade on Stock Price in India, Open Journal of Social Science Research, vol.1(6):pp.133-139, Print ISSN: 2328-5001, Online ISSN: 2328-501X,USA.

100. Ray, Sarbapriya (2013), In Search of Financial Soundness of Indian Manufacturing Industry: 2003-04 to 2009-10, Journal of Economic Philosophy, vol.1(2): pp.17-23, Online ISSN: 2329-941X ,USA.
101. Ray, Sarbapriya (2013), Searching Causal Connection between Stock Price and Interest Rate in India, United States of America Research Journal, Vol. 1, No. 2, PP.40-50, ISSN 2332-2160 ,USA.

102. Ray, Sarbapriya (2013), Indian Leather Industry: A Post-Reform Period Financial Overview, United States of America Research Journal, Vol. 1, No. 2,PP.51-59, ISSN 2332-2160 ,USA.

103. Ray, Sarbapriya (2013), Do stock prices respond to GDP growth in India?, European Journal of Innovative Business management,Vol.1,pp.1-8.UK.

104. Ray, Sarbapriya (2013), An Analysis of Factors Affecting Employees’ Job Satisfaction in Brick Kiln Industry of India: A Case Study, United States of America Research Journal, Vol. 1, No. 2,PP.60-76, ISSN 2332-2160 , USA .

105. Ray, Sarbapriya (2013), Impact of Merger on Performance of Indian Banks: A Case Study on Specific Bank Merger in India, United States of America Research Journal, Vol. 1, No. 3,PP.14-31, ISSN 2332-2160 , USA .

106. Ray, Sarbapriya (2013), Towards Examining the Relationship between Industrial Production and Stock Price in India, United States of America Research Journal, Vol. 1, No. 3,PP.36-45, ISSN 2332-2160 , USA .

107. Ray, Sarbapriya (2013), Exploring Leveraged buyout in India: An Overview, International Journal of Marketing Research, vol.1, no.1,USA.
108. Ray, Sarbapriya (2013), An Empirical Investigation into Causal Relationship between Gross Fixed Capital Formation and Stock Price in India, American Journal of Business, economics and management,vol.1,no.1,pp.1-8,USA.

109. Ray, Sarbapriya (2013), A Comparative Study on Two Decade wide Post-Reform Performance of Indian Glass Companies, United States of America Research Journal, Vol. 1, No. 4,PP.1-15, ISSN 2332-2160 , USA .
110. Ray, Sarbapriya (2013), Effect of Foreign Direct Investment on Stock Prices in India: A Causality Approach, United States of America Research Journal, Vol. 1, No. 4,PP.16-24, ISSN 2332-2160 , USA .
111. Ray, Sarbapriya (2013), Present Scenario and Status of India in the midst of Global Competitiveness, United States of America Research Journal, Vol. 1, No. 4,PP.32-48, ISSN 2332-2160 , USA .
112. Ray, Sarbapriya (2014), Empirical analysis on the causal connection between money supply and stock prices in India, American Journal of Service Science and Management, vol.1(1),pp. 1-9
113. Ray, Sarbapriya (2014), Modelling the Nexus between Consumer Price Index and Wholesale Price Index in India: 2005-06 to 2013-14, United States of America Research Journal, Vol. 2, No. 1,PP.11-31, ISSN 2332-2160 , USA .
114. Ray, Sarbapriya (2014), Driving Forces behind Industrial Efficiency in Chemical Industry of India, Open Journal of Industrial and Business Management, vol. 2(1),pp.1-8

115. Ray, Sarbapriya (2014), An analysis of prodcution pattern, growth and profitability of chanachur snacks: the field survey result on selected production units in India, United States of America Research Journal, Vol. 2, No. 2,PP.4-20, ISSN 2332-2160 , USA .
116. Ray, Sarbapriya (2014), An Analysis of Performance, Growth and Prospects of Micro, Small and Medium Enterprises in India, United States of America Research Journal, Vol. 2, No. 2,PP.26-35, ISSN 2332-2160 , USA .
117. Ray, Sarbapriya (2014), Analysis of the Socio-economic Condition of the General Public Surrounding Gorchumuk- 58 Gate Tourist Spot in India: A Case Study, , United States of America Research Journal, Vol. 2, No. 3,PP.1-8, ISSN 2332-2160 , USA .
118. Ray, Sarbapriya (2014), An Empirical Analysis of the Factors Affecting Customer Buying Behaviour relating to Readymade Garments in India: A Field Survey Based Study, United States of America Research Journal, Vol. 2, No. 4,PP.1-14, ISSN 2332-2160 , USA .
119. Ray, Sarbapriya (2014), An Analysis of Production Pattern of Brick Manufacturing Firms in India: A Regional Study on Selected Brick Kiln Firms , United States of America Research Journal, Vol. 2, No. 3,PP.28-44, ISSN 2332-2160 , USA .
120. Ray, Sarbapriya (2014), Does Electricity Energy Consumption Add Fuel to Economic Growth in India? : A Causality Analysis, United States of America Research Journal, Vol. 2, No. 4, PP.22-33, ISSN 2332-2160, USA .
121. Ray, Sarbapriya (2014), Do Oil Prices influence Stock prices in India? - A Fresh Look, United States of America Research Journal, Vol. 3, No. 2, PP.1-10, ISSN 2332-2160, USA .
122. Ray, Sarbapriya (2014), A Study on Some Aspects of Incense Sticks Manufacturing in India: A Field Survey based Study, United States of America Research Journal, Vol. 3, No. 2, PP.16-22, ISSN 2332-2160, USA .
123. Ray, Sarbapriya (2014), Appraising Financial Performance of Cement Companies of India: 1991-92 to 2009-10, United States of America Research Journal ,Vol. 3, No. 3, PP.7-15, ISSN 2332-2160, USA .
124. Ray, Sarbapriya (2014), Predicting Financial Distress in Aluminium Industry of India: An Application of Altman Z scores Model, United States of America Research Journal ,Vol. 3, No. 3, PP.24-45, ISSN 2332-2160, USA
125. Ray, Sarbapriya (2014), A Study on Profitability of Selected Kindergarten Schools in India: A Field Survey based Exploration, United States of America Research Journal ,Vol. 3, No.4, PP.19-36, ISSN 2332-2160, USA, DOP-08.12.2014
126. Ray, Sarbapriya (2014), Socio-Economic Appraisal of Mobile Users and its Interconnection with Earning of People: A Study on Selected Region in India, , United States of America Research Journal ,Vol. 4, No.4, PP.1-12, ISSN 2332-2160, USA, DOP-16.12.2014.
127. Ray, Sarbapriya (2014), Analysis of the Profitability of Paddy Cultivation in West Bengal of India :A Field Survey based Study , United States of America Research Journal ,Vol. 4, No.4, PP.13-25, ISSN 2332-2160, USA, DOP-16.12.2014.
128. Ray, Sarbapriya and Saha, Malayendu (2015), Banking Sector Mutual Funds and Term Deposits: Risk-Return Analysis, United States of America Research Journal, Vol. 5, No.1, PP.14-25, ISSN 2332-2160, USA.
129. Ray, Sarbapriya and Saha, Malayendu (2015), Does Oil Price Shock influence Inflation in India? , United States of America Research Journal, Vol. 5, No.1, PP.64-79, ISSN 2332-2160, USA.

130. Sarbapriya Ray, Malayendu Saha (2016), Dynamic Association between Macroeconomic Variables and Stock Return Volatility: Evidence from India, American Journal of Business, Economics and Management, Vol. 4, No. 4, pp. 40-56.
131. Sarbapriya Ray,Gopal Chandra Mondal and Mihir Pal(2016), Merger and Its Effect on Performance of Indian Public Sector Bank: A Case Study on Merger of Nedungadi Bank and Punjab National Bank, International Journal of African and Asian Studies www.iiste.org ISSN 2409-6938 An International Peer-reviewed Journal,Vol.25,pp.54-65,UK.
132. Sarbapriya Ray(2016), Measuring Financial Soundness of Dairy Industry in India: A Critical Study, Journal of Poverty, Investment and Development, ISSN 2422-846X An International Peer-reviewed JournalVol.29, 2016,pp.22-29, UK.
133. Sarbapriya Ray (2016), Revisiting the Evolution and Application of Assignment Problem: A Brief Overview, Industrial Engineering Letters, ISSN 2224-6096 (Paper) ISSN 2225-0581 (online), pp.16-38.Vol.6, No.10, 2016. UK.

134. Sarbapriya Ray (2017), Marketing of Agricultural Perishable Products Using Mobile Phones for Improving Rural Income: A Case Study on Shyampur Area of Howrah District of India, Journal of Marketing and Consumer Research, .ISSN 2422-8451,Vol.31, 2017,pp.7-13. UK.

135. Sarbapriya Ray (2017), Recent Currency Demonetization and Its Probable Impact on Indian Economy, Journal of Poverty, Investment and Development ,ISSN 2422-846X An International Peer-reviewed JournalVol.32, pp.12-18. UK.
136. Sarbapriya Ray (2017), Influence of Merger on Performance of Indian Banks: A Case Study, Journal of Poverty, Investment and Development ,ISSN 2422-846X An International Peer-reviewed Journal,Vol.32,pp.43-51. UK.

137. Sarbapriya Ray (2017), A Study of Profitability and Socio Economic Aspects of Fish Cultivation: A Case Study on Selected Fishermen of West Bengal, India, Journal of Resources Development and Management ,ISSN 2422-8397 An International Peer-reviewed Journal, Vol.29,pp.1-5,UK.

138. Sarbapriya Ray (2017), Influence of Crude Oil Price Shock on Economic Growth: Evidence from India, Journal of Energy Technologies and Policy, ISSN 2224-3232 (Paper) ISSN 2225-0573 (Online)Vol.7, No.3,,pp.24-30 ,UK.

139. Sarbapriya Ray (2017), Testing Tea industry’s Economic Wellbeing in India, Journal of Marketing and Consumer Research, ISSN 2422-8451 An International Peer-reviewed Journal,Vol.33, pp.25-33, UK .

140. Sarbapriya Ray (2017), Customers’ Perception about Micro Finance in India: A Brief Survey on Bandhan Micro Finance, Journal of Marketing and Consumer Research, ISSN 2422-8451 An International Peer-reviewed Journal,Vol.34, pp.31-35,UK.
141. Sarbapriya Ray, Gopal Chandra Mondal and Mihir Pal(2017), Impact of Merger on Efficiency of Indian Commercial Banks: AStudy on Merger of Oriental Bank of Commerce and Global Trust Bank, Journal of Poverty, Investment and Development, ISSN 2422-846X .Vol.35,pp.33-42. UK.
142. Sarbapriya Ray (2017), Socio-Economic and Profitability Analysis of Date Palm Molasses(GUR) Industry in India: A Field Survey Based Study, Research on Humanities and Social Sciences ,www.iiste.org,ISSN (Paper)2224-5766 ISSN (Online)2225-0484 (Online),Vol.7, No.9,pp.9-13, UK.
143. Sarbapriya Ray (2017), Does Merger Affect Financial Performance of Bidder Bank in India? Evidence from Merger of IDBI and United Western Bank, International Journal of African and Asian Studies , UK.
ISSN 2409-6938, An International Peer-reviewed Journal, Vol.38, pp.34-42.
144. Sarbapriya Ray, Gopal Chandra Mondal and Mihir Pal(2017), Impact of Merger on Performance of Indian Public Sector Bank:A Case Study of Global Trust Bank and Oriental Bank of Commerce, Journal of Poverty, Investment and Development ,ISSN 2422-846X An International Peer-reviewed JournalVol.39, pp.1-12. UK.
145. Sarbapriya Ray(2018), An Analytical Assessment of the Effect of Merger of Centurion Bank of Punjab with HDFC Bank, Industrial Engineering Letters ,ISSN 2224-6096 (Paper) ISSN 2225-0581 (online),Vol.8, No.1,pp.21-30. UK.
146. Sarbapriya Ray(2018), Impact of Merger on Efficiency of Acquiring Bank: An Analytical Study on Merger of Bank of Rajasthan and ICICI Bank, Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online),Vol.9, No.3, pp.53-63. UK.

147.Sarbapriya Ray(2018), An Analysis of the Effect of Merger of Western Union Bank with Industrial Development Bank of India during Post Liberalized Regime, Journal of Poverty, Investment and Development www.iiste.orgISSN 2422-846X An International Peer-reviewed JournalVol.44, 2018,PP8-14. UK.
148. Sarbapriya Ray, Gopal Chandra Mondal and Mihir Pal(2019), Perception of Financial Executives Regarding Merger of Indian Banks: A Critical Statistical Exploration, Research Journal of Finance and Accounting, ISSN 2222-1697 (Paper) ISSN 2222-2847 (Online) DOI: 10.7176/RJFAVol.10, No.1pp.86-99, UK..
149. Sarbapriya Ray(2020), Empirical Study on People’s Perception Regarding Introduction of GST in India, Research on Humanities and Social Sciences, Vol.10, No.13,PP.37-50, UK.

150. Ray, S., &Aditya, I. (2021). Fuel Cruelled in India: When will the Misery End?.Journal of Energy Technologies and Policy, 11(6), 1-2. ISSN (Paper)2224-3232 (peer reviewed),United States.
151.Ray, S., & Bag, A. (2021). Is Industrial Structure Moving from Manufacturing towards the Service Sector?. World Economics, 22(2), 161-181.ISSN: 1468-1838 (UGC Care I Journal, Scopus and ABDC Journal), London,UK.
152.Bag, A., Ray, S., & Pal, M. K. (2021). Is Productivity Growth in Manufacturing Sector a Driving Force Toward Mitigating Global Recession? A Cross-Country Explanation from Panel Data: 1990–2018. In Productivity Growth in the Manufacturing Sector. Emerald Publishing Limited.,3-15. ISBN: 978-1-80071- 095-5, UK.
153.Ray, S., & Bag, A. (2021). Does Structural Change Occur in Manufacturing Sectors? Cross-Country Evidence with Special Reference to India. FOCUS: Journal of International Business, 8(2), 01-29.ISSN: 2347-4459 (peer reviewed).
154.Bag, A., & Ray, S. (2021). Dynamic Effects of Manufacturing and Service Sector on Economic Growth in India: A Cross Section Analysis from Selected Indian States. The Indian Journal of Commerce, 74(1&2), 203-222.ISSN:2454-6801 (UGC Care I journal), New Delhi.
155.Bag, A., & Ray(2022), S. Do Exogenous Factors matter in the Productivity Growth Trajectory of Indian Manufacturing?.International Journal of Indian Culture and Business Management, Inderscience, ISSN: 1753-0806 (UGS Care II under Web of Science) (published online), United Kingdom..
156.Bag, A., & Ray, S. (2022). Total Factor Productivity Growth in Indian Manufacturing. World Economics, 23(1), 121-154.ISSN: 1468-1838 (UGC Care I Journal, Scopus and ABDC Journal),UK.

157.Bag, A., & Ray, S. (2022).First wave’s Impact of COVID 19 on Global Economy:Where are we and where will we go? Assessment from Cross country evidence. Sustainable Strategies for Economic Growth and Decent Work: New Normal.Lincoln University College, Malaysia in collaboration with Lincoln Research and Publishing Limited, Australia, 38-49. ISBN:-978-0-6488798-8-6(peer reviewed).

158.Ray, Sarbapriya (2022),Unraveling Labour Productivity Growth and Economic Growth Nexus in India: A Toda-Yamamoto Dynamic Granger Causality Approach, American Journal of Theoretical and Applied Business 2022; 8(4): 62-71 http://www.sciencepublishinggroup.com/j/ajtab doi: 10.11648/j.ajtab.20220804.11 ISSN: 2469-7834 (Print); ISSN: 2469-7842 (Online),USA.
159. Sarbapriya Ray, Ishita Aditya, Mihir Kumar Pal(2023), The Influence of Energy Consumption, Economic Growth, Industrialisation and Corruption on Carbon Dioxide Emissions: Evidence from Selected Asian Economies, Emerald Publishing Limited., ISBN: 978-1-80382-578-6, eISBN: 978-1-80382-577-9;Publication date: 6 February 2023.

160.Firdous Arshi, Ray, Sarbapriya (2023), Stability of the day of the week effect in return and volatility in Indian stock market: A pre and during COVID period analysis,Internationl Journal of Business and Emerging Market, Scopus (Elsevier), UGC Care I,Journal and ABDC Journal,Inderscience,United States of America.Vol,December,2023[Forthcoming]

161. Firdous Arshi, Ray, Sarbapriya (2024), Testing Behaviour of Daily Stock Return in Indian Stock Market during Pandemic Induced Crisis Period, European Journal of Business and Management, vol.16,no.2,UK(Forthcoming).

162.Ray, Sarbapriya(2023), Is Make in India a Saga?, World Economics, Vol.October-December,2023, vol.24,no.4,pp.77-101, (UGC Care I Journal, Scopus and ABDC
Journal),UK.
B. National Status:
1. Ray, Sarbapriya and Pal, M.K (2008):On the measurement of capacity utilization : an evidence from Indian chemical industry, Arthavijnana, Ghokhale Institute of Politics and Economics, vol. L, no.2,pp116-28, ISSN: 0004-3559,June, Pune.
2. Ray, Sarbapriya and Pal, M.K(2009):Impact of liberalization on capacity utilization of Indian iron and steel industry, The Indian Economic Journal, Indian Economic Association, vol.57, no.1,pp158-75, ISSN 0019- 4662,April-June, New Delhi. , SAGE Publications India Pvt. Ltd. and IEA
3. Ray, Sarbapriya and Pal, M.K (2010): Trade Reforms and Total Factor Productivity Growth in India’s Aluminium Industry with Adjustment for Capacity Utilization, Arthavijnana, Vol.LII, No.1: March, pp.7-26,ISSN: 0004-3559, Ghokhale Institute of Politics and Economics, Pune.

4. Ray, Sarbapriya and Pal, M.K (2007): Determinants of capacity utilization in individual energy intensive industries: A post liberalization period analysis on Indian cement industry, Journal of Economics, vol.XII, pp 47-57,2007,West Bengal.
5. Ray, Sarbapriya and Pal, M.K(2008): Interpretation and appraisal of performance in individual energy intensive industries under liberalized trade regime: A case of fertilizer industry in India, Journal of Economics, vol.XIII,pp37-52, 2008, West Bengal.
6. Ray, Sarbapriya and Pal, M.K (2009): The sources and determinants of productivity growth in India’s Pharmaceutical Industry: Evidence from the nonparametric Approach, Journal of Economics, vol.XIV, pp61-74, 2009.

7. Ray, Sarbapriya, Ishita Aditya and Pal, M.K (2010), Nexus between Democracy and Economic Growth: A case of India, Journal of Economics, vol.XV,pp. 31-49, ISSN:0975-8003 ,West Bengal.

8. Ray, Sarbapriya (2011), Some aspects of financial performance of India’s iron and steel industry- A post liberalization period snapshot,(January),Anusandhanika, vol.3,no.1,pp1-5,Ranchi, Jharkhand.

9. Ray, Sarbapriya, Ishita Aditya(2011),Some aspects of women entrepreneurship in India, Asian Journal of Management Research, vol.2,issue,1,pp1-13, ISSN 2229 – 3795.

10. Ray, Sarbapriya (2011), Productive performance of Indian glass sector: An econometric assessment, Journal of Commerce and Management Thought,ICI, vol.2, no.4, pp.487-99, October,Pune. Ugc sl no. 22049,
11. Ray, Sarbapriya,(2011), Taxation aspects of Merger and Acquisition: Indian Scenario, Anusandhanika (REEFERRED JOURNAL OF COMMERCE),ISSN 0974-200X,vol.III,no.II, pp1-10,Jharkhand.

12. Ray, Sarbapriya, Ishita Aditya (2011), Women as mediators of Political Change: An analytical perspective with special reference to West Bengal, Anusandhanika, (REEFERRED JOURNAL OF SOCIAL SCIENCE AND HUMANITIES),vol.IX,no.II, July,pp.9-18,ISSN: 0976-200X,Jharkhand .

13. Sarbapriya Ray, Gopal Chandra Mondal and Mihir Pal(2017), Influence of Merger on Profitability and Operating Performance of Indian Public Sector Bank: A Case Study, Institute of Technology & Science (ITS), ISSN:0972-7361,Ghaziabad, UP,Vol.14 no.2 July -December 2016
Book published: 09

1. Capacity Utilization and Productivity in Indias Energy Intensive Sectors: Capacity Utilization and Productivity: Indian scenario, Paperback: 192 pages, Publisher: LAP LAMBERT Academic Publishing (May 22, 2012), Germany, Language: English, ISBN-10: 3848490145, ISBN-13: 978-3848490141, Product Dimensions: 8.7 x 5.9 x 0.4 inches
2.Financial Health of Fertilizer Industry in India:1991-92 to 2009-10, Paperback: Language: English, Product Dimensions: 8.7 x 5.9 x 0.4 inches. Single Authorship, LAP LAMBERT Academic Publishing (January, 31,2014), Germany, ISBN-: 978-3-659-51888-1.
3. Profitability and Private Computer Training Centers: Indian Study, ISBN: 9781312195844,Copyright: Dr Sarbapriya Ray(Creative Common Attribution 2.5),Edition: First edition,Published:May 16,2014,Language:English,File Format: PDF, File size: 197.17 KB, Price: $ 8.99, Publisher: Lulu,USA.
4. Democracy and Economic Growth: Indian Experience (Jointly with Dr Ishita Aditya), ISBN: 9781312189232, Copyright: Dr Ishita Aditya(Creative Common Attribution 2.5),Edition: First edition,Published:May 13,2014,Language:English,File Format: PDF,Pages:203, File size: 1.15 MB, Price: $ 8.99, Publisher: Lulu,USA.

5.Bankruptcy prediction in selected manufacturing industries in India, LAMBERT Academic Publishing (April,2015),Germany,ISBN-: 978-3-659-69376-2.
6.Customers Buying Behaviour, A study on Ready made garments in India, LAMBERT Academic Publishing (April,2016)Germany,ISBN-: 978-3-659-89477-0.
7.Efficiency in Indian Rubber Industry:1991-92-2007-08, LAMBERT Academic Publishing (June2016) Germany ,ISBN-: 978-3-659-89477-0.
8. Goods and services taxes:A construal based on Survey, Paperback: 140 pages, Publisher: LAP LAMBERT Academic Publishing ( (July 15, 2020), Germany, Language: English, ISBN:978-6202677813, Product Dimensions: 5.91 x 0.32 x 8.66 inches.
9. Capital Structure Determinants of Indian Companies, Paperback: 120 pages, Publisher: LAP LAMBERT Academic Publishing (February 21, 2019), Germany, Language: English, ISBN:978-6139454556, Product Dimensions: 15 x 0.71 x 22 cm.
Edited Volume(chapter published in book):
1.Contributed a chapter titled Liberalization, competition and capacity utilization in Indian iron and steel industry in an edited Volume of Book titled ‘Development in Developing Economies’, Concept Publisher, 2012, xvi, 168p, tables, ISBN : 9788180698408,Price:Rs.450, New Delhi.
2. Contributed a chapter titled Exploring the Nexus Between Education and Economic Growth India in an edited Volume of Book titled Inclusive Growth: Emerging Scenario in India, Law Point Publications, Kolkata, 2012,ISBN: 978-93-82472-06-3.
3. Contributed a chapter titled The influence of energy consumption, Economic growth, Industrialization and corruption on carbon dioxide emissions: evidence from selected Asian Economies in an edited Volume of Book titled The Impact of Environmental Emissions and Aggregate Economic Activity on Industry, Emerald Publishing Ltd,Leeds,West Yorkshire,United Kingdom, 2023, ISBN:978-1-80382-578-6.
4. Contributed a chapter titled Dynamic effects of Manufacturing and service sector on economic growth in India:A cross section analysis from selected Indian States in an edited Volume of Book titled Globalization, Income distribution and Sustainable development, Emerald Publishing Ltd,Leeds,West Yorkshire,United Kingdom, 2022, ISBN:978-1-80117-871-6.
5. Contributed a chapter titled Is productivity growth in manufacturing sector a driving force toward motivating Global recession?:A cross country explanation from panel data:1990-2018 in an edited Volume of Book titled Productivity growth in the manufacturing sector, Emerald Publishing Ltd,Leeds,West Yorkshire,United Kingdom, 2021, ISBN:978-1-80071-095-5.