With increased competition in business supply, companies need to invest in time to survive. Given the developments in today's world, especially developing countries, these countries need appropriate solutions to make better use of their resources to solve economic problems. In this regard, one of the important factors in solving the economic problems of countries is the expansion and development of investment; but this alone is not enough, and given the limited financial resources, in addition to the issue of investment development, increasing investment efficiency is also one of the important issues. Accordingly, the present study examines the impact of corporate social responsibility on investment efficiency as well as the moderating role of business strategy in this regard. This research is applied in terms of purpose and descriptive-correlational in terms of research method. In other words, in this study, the existence of relationship and correlation between variables through regression is investigated. in order to achieve the above objectives, three hypotheses were formulated. Therefore, in order to test the research hypothesis, a sample of 100 firms was selected from the firms listed in Tehran Stock Exchange during the period 2012 to 2019. Multivariate regression model based on combined data was used to test the research hypothesis. The results of this study show that there is a positive and significant relationship between corporate social responsibility and investment efficiency, which means that with increasing corporate social responsibility, investment efficiency will increase. Also, business strategy has a significant positive impact on investment efficiency, which means that with increasing business strategy, investment efficiency will increase. In addition, business strategy affects the relationship between corporate social responsibility and investment efficiency.