Taking all the A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2000 to 2017 as the research object and 18144 eligible data as research samples，this paper not only studies the impact of CFO’s four background characteristics on enterprise value，but also studies the impact of these four background characteristics on enterprise value at different stages of enterprise life cycle based on OLS regression model. It is found that CFOs with high educational background and seniority play a more significant role in promoting enterprise value. At each stage of the enterprise life cycle，the concrete performance is as follows： in the growing period，CFO with master’s degree can enhance the enterprise value while female CFO will reduce corporate value. Highly educated and female CFOs can improve enterprise value in maturity，CFO with master’s degree in recession can improve corporate value.