This study axamines and analyze the effect of earnings management, information asymmetry, leverage, and firm size on the cost of equity capital in manufacturing companies listed on the Indonesia Stock Exchange for the 2018-2020 period. Based on the criteria, the population in this study was 161 manufacturing companies listed on the Indonesia Stock Exchange. The sample selection in this study was carried out by purposive sampling, to obtain 30 sample companies with 80 research data. The data analysis techniques used in this research are descriptive stantiscal test, normality test, heteroscedasticity test, autocorrelation test, multiple regression analysis, F statistic test, and hypothesis testing. The results of the analysis show that partially earnings management has a negative and insignificant effect on the cost of equity capital, then information asymmetry has a positive and significant effect on the cost of equity capital, meanwhile leverage, has a positive and insignificant effect on the cost of equity capital and firm size has a negative and significant effect on the cost of equty capital.