OECD countries: How has the increase in earnings been used?

We seek to determine whether the surge in corporate earnings in OECD countries over the past 20 years has had positive effects on the economy. To this end, we look at whether it has been used to: Increase investment, particularly on modernisation; Reduce debt, or on the contrary increase debt leverage through share buybacks; Accumulate financial assets, cash or equities (which accounts for the acquisitions made). We see that the increase in corporate profitability has been entirely used to finance acquisitions and holding cash, which is inefficient.