The board of directors is an important organization leading the company's decision-making. The different personal characteristics of the members of the board of directors directly affect the choice of decision-making, and then affect the investment efficiency; Social responsibility is a behavior in that enterprises are closely connected with the external environment. Therefore, this paper takes Chinese listed companies from 2016 to 2020 as a sample and makes an empirical study with the Ordinary Least Square method to explore the impact of board characteristics and corporate social responsibility on corporate investment efficiency. The results show that: 1) the higher the proportion of male directors, the older the average age of directors, and the enterprises with no overseas background among directors, the more inclined to implement corporate social responsibility. 2) The better corporate social responsibility performance has a positive and significant impact on the company's investment efficiency. 3) The older the average age of the members of the board of directors, the company with no overseas background in the board of directors and no financial background in the board of directors, and the company with the same director as the chairman and general manager, the investment efficiency will be better. 4) The implementation of corporate social responsibility does not make up for the negative impact of the characteristics of board members on enterprise investment efficiency. This paper also puts forward corresponding suggestions based on the research findings.