Cash realization may separate operating resilience from accounting weakness among loss-reporting companies, but the historical case depends on choosing a peer boundary that is neither too broad nor too narrow.
A dual-horizon design may help a cross-sectional equity signal accommodate faster price discovery in liquid stocks and slower adjustment elsewhere, but the historical association still requires reconciliation and out-of-sample challenge.
Cash-flow and income disclosures can remain informative on different schedules. A controlled historical test found modest transfer evidence, but uneven results argue for treating information age as a governance variable—not a standalone holding rule.
Among loss-reporting U.S. equities, operating cash generation may distinguish accounting weakness from deeper operating strain, but the historical evidence is incomplete and implementation remains untested.