Superstars are larger, more globalized, and more productive than median companies and benefit more from intangible investments than do bottom-decile companies.
Company performance by economic-profit-distribution decile
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Source: S&P Capital IQ; Corporate Performance Analytics by McKinsey; McKinsey Global Institute analysis
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Adjustment for organic intangibles done by capitalizing companies’ R&D expenditure and a portion of their selling, general, and administrative expenditure. For more, see Ryan H. Peters and Lucian A. Taylor, “Intangible capital and the investment-q relation,” Journal of Financial Economics, February 2017, Volume 123, Issue 2, pp. 251–72, sciencedirect.com.
Source: S&P Capital IQ; Corporate Performance Analytics by McKinsey; McKinsey Global Institute analysis
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Source: S&P Capital IQ; Corporate Performance Analytics by McKinsey; McKinsey Global Institute analysis
Source: S&P Capital IQ; Corporate Performance Analytics by McKinsey; McKinsey Global Institute analysis