Investment in companies plays a key role in development and preventing stagnation, but resource limitations highlight the necessity of increasing profitable investments. Information asymmetry is recognized as a factor contributing to market friction and reduced investment. In this regard, research has explored the level of investment and the mechanisms affecting it. High quality financial reporting can help mitigate problems arising from adverse selection and moral hazard. This enables managers to identify investment opportunities with greater accuracy, consequently increasing highly profitable investments. Investors are also consistently concerned about their interests and monitor management decisions to ensure optimal returns on company investments. The provision of high-quality financial information and its transparent reporting allows investors to more effectively monitor managerial activities and prevent opportunistic behaviors. This research aimed to investigate the impact of financial reporting quality and disclosure quality on the investment levels of 119 companies listed on the Tehran Stock Exchange during the period of 2014-2018. Data was collected through library research, using Rahavard Novin software, and by consulting the Tehran Stock Exchange Organization and studying fundamental financial statements. The results of hypothesis testing clearly indicated that both financial reporting quality and disclosure quality have a positive and significant impact on the investment levels of listed companies in Tehran.