With NMIMS SBM's focus on basic and applied research, the faculties from all areas are actively engaged in writing research papers. With the objective of soliciting comments or feedback on these research outputs from researchers and experts in different areas during the initial stages, SBM is building a portfolio of such research papers or Working Papers. These are the pre-publication versions of academic articles, book chapters, or reviews. Papers included in this series are in progress, under submission, or in press and forthcoming elsewhere. These working papers also seek to disseminate the research done by the school and to stimulate discussion and contribute to the advancement of the authors knowledge related to the area of research.