<![CDATA[The purpose of this study is to obtain empirical evidence of investment opportunitycapability sets to moderate the influence of information asymmetry on dividendpolicy. This research was conducted at a manufacturing company listed onIndonesia Stock Exchange 2014-2016. Sampling method used is purposivesampling. The sample size is 30 with 72 observations. Technique Data analysisused is test of Moderated Regression Analysis (MRA). Based on the results of theanalysis, it is known that the investment opportunity set is not as a moderator ofthe influence of information asymmetry on the dividend policy. This suggests thatwhen firms have high investment opportunities with high levels of asymmetry, it isnot necessarily that the company will pay low dividends or not share them to theshareholders, since management will manage earnings annually as reserves to bereinvested without reducing the proportion of dividend payout to investors. Thisstudy provides implications for investors as a consideration in investing in acompany to see how the bid ask and dividend payout ratio of the company'sshares.Keywords: Asymmetry of information, investment opportunity set, dividend policy]]>
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