Optimal resource allocation is very important for shareholders and investors in listed companies. Given the importance of this issue, this paper examines the relationship between Internal accounting information quality and efficiency of resource allocation and too study effected Governance efficiency on relation between Internal information quality and efficiency of resource allocation. To measure the quality of internal information, three criteria of Earnings announcement speed, Earnings forecast accuracy, non-restatement due to error have been used. Also, to measure the efficiency of resource allocation, two criteria of correlation between the growth rate of operating profit of the company and industry and the correlation of sales growth rate of the company with industry have been used. To measure the corporate governance mechanism, the criteria of concentration of ownership, independence of board members, duality of CEO duties, number of board members, percentage of institutional ownership, CEO membership in the board have been used. For this purpose, the data of 103 companies during the period of 2013 to 2020 were analyzed using the structural equation modeling. The results show that Internal information quality has significant impact on the efficiency of resource allocation and the Governance has the role of moderator on the relationship between Internal accounting information quality and efficiency of resource allocation. In the other words high quality Internal accounting information leads to increased investment productivity; and too findings indicate the moderating role for Governance in the relationship between Internal accounting information quality and Capital investment choice. Therefor strengthening corporate governance and Improving the quality of internal accounting information enhances the usefulness of information for decision-making by investors, creditors and other stakeholders. It also leads to optimal investment