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This research examines the effects of a firm’s asymmetric information on its choice of two mechanisms of corporate governance: the board monitoring intensity and CEO incentive alignment. The sample consists of 112 firms listed in Tehran Stock Exchange during 2006-2010. Data has been collected using Rahavard Novin software and Tehran Stock Exchange archive. The statistic analysis has been done by multivariate regression. The results show that firms facing greater asymmetric information tend to use less intensive board monitoring but rely on more CEO incentive alignment.