2008 Cash Flow Construction Metrics 
Harvard Business
APRIL 5, 2017
Similarly, considering greater accruals (which represent the difference between reported income and operating cash flows) to measure short-term orientation has its difficulties. It assumes that a smaller proportion of cash flows in earnings indicates a myopic firm.
Harvard Business
FEBRUARY 7, 2017
After all, “short-termism” does not correspond to any single quantifiable metric. To construct our Corporate Horizon Index, we identified five financial indicators, selected because they matched up with five hypotheses we had developed about the ways in which long- and short-term companies might differ.
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