Higher managerial ability can lead to more efficient management of the company's day-to-day operations, especially in critical periods of operations where managerial decisions can have a significant impact on company performance. The purpose of this study is to investigate the effect of competition in the product market on the relationship between managers' ability and financing and investment efficiency. The research done in terms of the type of purpose is part of applied research and the research method in terms of nature and content is cause and effect. The research was conducted in the framework of deductive-inductive reasoning and panel analysis was used to analyze the hypotheses. To collect information, data from 146 companies listed on the Tehran Stock Exchange in the period 1391-1389 have been used. The results of this study show that management ability has a significant and direct relationship with investment efficiency and financing; Also, competition in the product market does not affect the relationship between managers' ability and investment efficiency; But it has a significant and positive effect on the relationship between managers' ability and financing