Purpose: The purpose of this paper is to investigate the influence of cash flow volatility on firm’s leverage levels. It also analyzes how cash flow volatility influences the debt maturity structure for the Chinese listed firms. Design/methodology/approach: The authors construct the measure...

Purpose – The purpose of this paper is to investigate information risk in relation to cost of capital and, also, whether information risk is a priced risk factor in China. Design/methodology/approach – The authors used accruals quality (AQ) as the measure of information risk and employed...