Behera, Jitamitra and Sharma, Ruchi creator text Economic & Political Weekly monographic eng

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61(16), Apr 18, 2026: p.80-89 The star firms phenomenon, focusing on the changing structure of investment dynamism in Indian manufacturing industries, is explored. Analysing firm-level information from the Centre for Monitoring Indian Economy Prowess database for 2000 to 2023, this study investigates the emergence of star (superstar) firms and presents a comparative analysis highlighting intangible expenditure and intangible assets. We find that star firms are intangible-intensive relative to non-star peers and such investment in intangibles increases the likelihood of transforming a firm into a star. So, a regulatory framework is suggested that encourages investment in intangibles to leverage scale advantage and enhance performance. –Reproduced https://www.epw.in/journal/indias-industrial-transformation/identification-star-firms-and-decoding-investment.html Economic & Political Weekly 260505