Some managers have this motivation to abuse financial reporting for their own benefit in certain circumstances. For example, managers, within the framework of accepted accounting principles, inflate profits in periods of heightened investor sentiments in order to gain benefits for themselves and related parties, in this situation, it is possible to create a significant difference in quality. Financial statement information will be available during periods of high investor sentiment. On the other hand, the existence of political connections leads to the existence of a kind of support for companies with political connections, which is expected to be stronger in these types of companies. Therefore, the purpose of this research is to investigate the relationship between investors' feelings and fraudulent reporting, and also to investigate this relationship in companies with political connections. To achieve the goal of the research, a statistical sample including 135 companies admitted to the Tehran Stock Exchange was selected during the years 2013-2017. This research is based on the goals, applied research type and in the hypotheses in the field of correlational research. In order to classify data, Excel software was used and for hypothesis testing, logit model was used in EViews10 software. The findings of the research show that there is no significant relationship between investors' feelings and fraudulent reporting, but among companies with political relations, since these types of relations cause companies to warm their backs, there is a difference between investors' feelings. and fraudulent reporting, there is a positive and significant relationship. Which indicates the fact that decision makers in companies with political ties see investors' feelings as an opportunity to provide fraudulent reporting for opportunistic behavior and abuse for their own benefit and those related to them.