The research aims to examine the effect of institutional ownership, voluntary
disclosure, and earnings management to the cost of capital in property and real
estate sector companies for the period2011-2015. The dependent variable used in
this research was cost of capital, while the independent variables are institutional
ownership, voluntary disclosure, and earnings management. The object of
researchwas property and real estate companies listed on the BEI, with 190
research samples. Sampling method in this research use multiple linear
regression analysis. The results of the analysis show that the variables of
institutional ownership and voluntary disclosure have a significant positive
affected cost of capital. Meanwhile the variable of earnings management does not
affectedthe cost of capital.