The purpose of this study was to examine the effect of Information Asymmetry, Voluntary Disclosure and Earnings Management on LQ-45 Companies Listed in the Indonesia Stock Exchange during 2012-2015 periods. This research used Annual Reports and Financial Reports published by LQ-45 Companies. Population used in this research are LQ-45 companies listed in the Indonesia Stock Exchange during 2012-2015 periods. Samples in this research were taken by purposive sampling method and 21 consistent Companies Listed in LQ-45 during 2012-2015 periods. The analysis technique used multiple regression analysis. The result of this study shown that Information Asymmetry and Earnings Management have positive effect on Cost of Equity Capital and Voluntary Disclosure has no negative effect on Cost of Equity Capital.