Based on the data of China listed companies which disclosed R&D expenditure from 2008 to 2010, this paper explores the relationship between executive characteristics and corporate R&D investment efficiency. The empirical evidence suggests that executive tenure and executive ownership positively affect R&D investment efficiency. However, executive age is negatively related to R&D investment efficiency. From the comparative analysis of Shanghai, Hubei, Sichuan and Chongqing, we find that the scale and intensity of Chongqing R&D investment are far less than that of the other three regions. At the same time, Chongqing R&D investment funds mainly rely on the enterprises, and the R&D funds invested by government are serious insufficient. From the descriptive statistics of Chongqing listed companies, we find that there are serious problem of R&D low efficiency investment.