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For those striving to create good companies it would at least be helpful to be able to identify them. While the very best companies usually perform well under any measure of corporate success, most conventional measures stack the odds in favour of certain companies over others. Capital intensity and gearing frequently interfere in the appropriate ranking of firms. This paper analyses some of the problems of commonly quoted performance indicators, and nominates an alternative.
Davis et al. (Fri,) studied this question.