This paper selects Chinese A share non-financial and non-real estate listed companies from 2011 to 2019 as samples to study whether corporate financial investment has industry cluster effect and the impact of accounting information comparability on industry cluster effect of financial investment. The results show that the financial investment of enterprises has the industry cluster effect, and the comparability of accounting information can restrain the industry cluster effect. In further analysis, this conclusion is still true after differentiating the different directions of increasing (decreasing) financial investment in the industry as a whole. At the same time, comparability of accounting information can reduce managers’occupational anxiety and information learning behavior in the industry, and thus inhibiting the industry clustering effect of financial investment. The research results of this paper provide a new micro perspective for the existence of the financialization phenomenon of China’s real enterprises, and also a new way to solve the cluster effect of financial investment in the industry.