This study examines the impact of dividend payments and bad news hoarding on stock price crash risk with an emphasis on information asymmetry. In this regard, 123 companies were selected for the period of 2009-2014. Over investment is used to calculate bad news hoarding index http://ygkhbk9735og.timeblog.net/70681901/a-modern-mode-of-activation-for-nucleic-acid-enzymes