Table 1

Procedure of deriving sampling firms under the study

CriteriaNo. of firms
Total number of firms listed on NSE as on 31st March 20241,298
Less: financial companies(291)
Less: non-financial companies which excludes the major defaulting industries list as per CRISIL rating report(698)
Initial number of total non-financial firms in six high defaulting industries as per Prowess database309
Less: companies with unavailable data(58)
Final sample of six high defaulting industries251
Source(s): Authors’ own
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