The key purpose of this study is to investigate the effect of Financial Reporting Quality (FRQ) on Investment Efficiency (IE) in Egypt. In addition, this research studies the moderating effect of various structures of ownership (concentration and managerial ownership) on the association between FRQ and IE. The structure of ownership is an essential internal corporate governance mechanism that could solve agency issues and reduce information asymmetry Chen (2013) and Fama and Jensen (1983). This study used a sample of 53 companies that were registered on the Egyptian stock exchange )EGX( market between 2015 and 2018. According to the findings, FRQ and IE have a substantial positive association. Second, organizations with significant managerial ownership show a stronger correlation between FRQ and IE. Finally, the link between FRQ and IE is not being moderated by concentrated ownership. The study's findings are consistent with the idea that managerial ownership could decrease agency problems and information asymmetry. Therefore, providing managers with stock ownership as compensation will be quite advantageous.