One of the most important components in how to provide financial information of firm is timeliness of financial reports because it can make better and more efficient use of information by users. Providing timely information can reduce information asymmetry among investors with companies. In this study, the impact of disclosure quality score on information asymmetry and cost of capital has been investigated. For this purpose, about 123 companies in the time period between 2008 and 2014 were analyzed. Research hypothesis have been analyzed by use of GLS Regression Model. The obtained results from hypothesis of this study, show a significant non-correlation between quality of information disclosure score and information asymmetry and there is a negative and significant relation between the quality of information disclosure score and the cost of capital.