In this competitive world, permanence of companies relies on innovations and presentation of new products; but spending research and development expenditure, duo to apprehension of its efficiency, is always a concerning issue for managers. The aim of this research is to characterize in the impact of information transparency on firm innovation regarding the role of career risk managers and investment opportunities in medicine companies which are accepted in Tehran Stock Exchange (TSE). Sample of research, which is selected by systematic removal method, includes 30 companies of medicine companies accepted in Stock Exchange (TSE) and over the counter during 2008 to 2018. Research type is descriptive-correlation; multivariable regression with combined data are used to test research hypothesizes. Results of hypothesizes test, show that information transparency of companies has significantly positive effect on the firm innovation. Also, it showed that when there is a high career risk manager, transparency has positive effects on firm innovation. In addition, the results show that investment opportunity dose not effect on the relationship between the information transparency and firm innovation. Overall, the results show that companies can increase the firm's innovation by increasing information transparency, and high career risk can reinforce this impact.