The flow of information in the market environment affects the behavior of market participants. It is natural for market participants to have a different share of this information flow. The purpose of this article is to investigate the effect of financial constraints, business strategies and corporate governance on the value of information and changes in the distribution of accounting information. In order to investigate the subject of the study, after extracting data related to companies listed on the Tehran Stock Exchange, the composite data regression model has been used to test the research hypotheses. Information asymmetry pricing decreases in the face of high financial constraints. It is also lower at higher levels of corporate governance. On the other hand, pricing information asymmetry is higher at levels with bold strategy. Financial constraints lead to differences in the cost of capital between companies with high information asymmetry and companies with low information asymmetry., Pursuing a market-based and innovative strategy requires investing in several new technologies to design products and explore new markets.