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This study examines the relation of earnings quality, voluntary disclosure and information asymmetry to the expense of equity. The sample consists of 127 firms listed in Tehran Stock Exchange during the period from 2010 to 21014. The hypotheses are tested using multivariate regression and software Eviews, Spss and STATA. The results show that there is a significant negative relation of the voluntary disclosure and earnings quality to the cost of equity. In other words, any improvement of earnings quality and voluntary disclosure of a firm reduces its cost of equity. Also, there is a significant positive relation between information asymmetry and cost of equity, that is, the more information asymmetry the more cost of equity in a firm.