Jitamitra Behera  Ruchi Sharma  <br/><br/>
Identification of Star Firms and Decoding Investment in Intangibles :   Evidence from the Indian Manufacturing Industry  
 Economic and Political Weekly  Vol.61; No.16 -   18 April 2026   pp. 80-89 

<br/><br/> 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.   
<br/><br/><label>Subjects--Uniform Titles: </label><br/>Commerce
<br/><br/><label>Subjects--Topical Terms: </label><br/>India <br/>Indian Manufacturing Industry <br/>Star Firms <br/>Investment