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Abstract: This paper examines the influence of CEOs financial experience on firms financial constraintWe contend that financially experienced CEOs have better access to capital markets and can make more reasonable investment decisions, leading to lower level of corporate financial constraintUsing a sample of Ashare listed firms in Shanghai and Shenzhen stock exchanges during 2000—2013，we find that firms with financially experienced CEOs exhibit lower investmentcash flow sensitivities，which means less financial constraintThis result is robust to endogeneity issues and alternative measures of financial constraintFurthermore，we show that the negative relation between financial experience and financial constraint is more pronounced among firms operated in poorer condition of external financing；meanwhile CEOs financial experience significantly increases investment performanceThe evidence suggests that CEOs financial experience benefits corporate financial constraints by improving financing and investment decisionsThis paper contributes to the literature on Upper Echelons theory and financial constraints，and has significant implications for the firm to make better decisions on CEO appointment and financial constraint alleviation

Key words: CEO , financial experience , financial constraint , investmentcash flow sensitivity