This study aims to examine the effect of information asymmetry on the dividend policy of nonfinancial companies listed on the Indonesia Stock Exchange. Basically, there is information asymmetry between managers and investors in which investors only know company information through dividend information, while managers have all the company's actual internal information. The study used a sample of companies that pays dividends listed on the Indonesia Stock Exchange and a control variable of growth

more »

... opportunity (market-to-book ratio, asset structure), firm size, firm risk, and profitability. The findings of this study concluded that information asymmetry does not significantly influence the dividend policy of non-financial companies listed on the Indonesia Stock Exchange. The dividend payment is not influenced by the high or low asymmetry of the available information; this is because the dividend payment policy is an expensive policy.