Managers are the core elements of enterprise operation， and the differences of their vertical pair characteristics will inevitably have an impact on the financial elasticity and value of enterprises. Taking listed companies from 2011 to 2016 as samples， this paper empirically analyzes the influence of vertical pair characteristics of executive teams on financial elasticity and the relationship between financial elasticity and corporate value under different vertical pair characteristics of executive teams. Empirical results show that the greater the difference in age， academic background and tenure of the executive team， the greater the financial elasticity of enterprise. The impact of financial elasticity on corporate value is inverted U-shaped， which increases first and then decreases. The greater the difference between vertical pair of executive team， the more smooth the inverted U shape relationship between financial elasticity and enterprise value is， and the balance point moves to the right. It shows that the bigger the vertical pair is， the stronger the buffer effect of financial elasticity is to the enterprise value， and the weaker the agency effect is.