本文从CEO的早期经历（主要指1969-1961三艰难时期）着手，通过分析早期经历、风险认知与公司投融资决策三者之间的关系，研究公司投融资决策中的风险偏好行为，揭示认知偏差对公司投资和融资决策行为的影响，为学术界研究上市公司资本结构以及投融资行为的影响因素提供了一个新的视角，本文的分析结果揭示了CEO自身的早年经历和个人特质对公司投融资同样能够产生明显的影响。明确CEO早期成长经历对公司投融资决策的影响有利于公司提高决策水平，改善决策效率和企业竞争力，为企业人才培养，选拔和公司治理提供有益参考，为政府和管理部门制定相应政策提供理论和实证依据。

This article starts with the CEO's early experiences (mainly referring to the three-year difficult period from 1959 to 1961), and analyzes the relationship between early experience, risk perception and corporate investment and financing decisions, and studies the risk preference behavior in corporate investment and financing decisions. The article shows the influence of cognitive bias on corporate investment and financing decision-making behavior and provides a new perspective for the academic community to study the capital structure of listed companies and the influencing factors of investment and financing behavior. The analysis result of this paper reveals that the CEO’s own early experience and personal characteristics can also have a significant impact on corporate investment and financing. Making clear the influence of early CEO growth experiences on corporate investment and financing decisions is conducive to improve the company’s decision-making efficiency and corporate competitiveness, and provide useful reference for corporate personnel training, selection and corporate governance, and provide theoretical and empirical evidence for governments and management departments to formulate appropriate policies.