Abstract: Based on the data of the listed companies on the GEM from 2012 to 2015, this paper studies the impact of the educational background and technical background of corporate executives on R&D investment. Meanwhile, this paper studies the interaction effect between two backgrounds. The study shows: firstly, the educational background of executives has positive effect on R&D investment; but the technical background has a negative effect on R&D investment. Secondly, there is interaction effect between educational background and technical background. Technical background can strengthen educational background's positive effect on R&D investment. Educational background can reverse the negative influence of technical background on R&D investment. This study has guiding significance to a certain extent for the selection and appointment of enterprise executives and the decision-making of R&D.