The main purpose of this research is evaluating the effect ownership centralization and institutional ownership level on informative asymmetry in each stages of life cycle within Tehran Stock Exchange. The statistical sample of the research includes 161 firms during 1387 until 1391. The used statistical method to analysis data is multiple regression and correlation coefficients which are performed by EXCELL and SPSS software. The research’s results show that there are a direct (positive) significance relation between ownership centralization level and informative asymmetry ignoring life cycles’ stages, but considering to life cycle into the research’s result, there have seen a notable change in such a way that the relation between ownership centralization level and informative asymmetry of firm is direct and significant in growth and maturity phase of corporate. While, there is an inverse and significant relation during wane of corporate. The results of this research also show that without considering life cycle’s stages, there is an inverse (negative) significant between institutional ownership level and informative asymmetry but by taking into consideration the life cycle, there is a notable change in results of study and there would be an inverse and significant relation between institutional ownership level and informative asymmetry of firm during growth and maturity of the firm, while this relation is direct and significant when firm is in wane.
