<![CDATA[The purpose of this study was to determine the effect of information asymmetry in manufacturing companies listed on the Indonesia Stock Exchange on the dividend policy of each company with ownership structure as a moderating variable. The sampling method in this study using purposive sampling method. The period used in this study is a manufacturing company listed during 2015-2019 on the Indonesia Stock Exchange. In addition, the companies used as samples must also continuously earn profits and have complete data related to the variables used, namely the ask bid spread, dividend payout ratio, total assets, market to book value, return on assets, and debt to equity ratio. Based on the specified criteria, 44 sample companies were obtained. Data analysis used linear regression and Moderated Regression Analysis with the help of the SPSS 26 application. The test results showed that information asymmetry in manufacturing companies has a significant negative effect on dividend policy of each company. And ownership structure does not have a moderating effect between the relationship of the effect of information asymmetry and dividend policy of manufacturing companies listed on the Indonesia Stock Exchange during the 2015-2019 period.]]>
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