很多文献评估了企业创新投入的作用，但都不可避免地探讨如何影响企业创新投入这单一静态的影响。本文从动态视角出发，探讨在不同年龄阶段下企业绩效对创新投入的影响。通过选取沪深两市制造业2009～2013年的动态面板数据，发现：企业创新投入的确具有延续性和动态效应，而且随着企业的逐渐成长，正效应越明显；企业绩效对创新投入的影响呈现U型特征；随着企业发展的日益成熟，企业绩效对动态创新投入影响的敏感性降低。%A lot of literature assessed the effect of enterprise innovation , but inevitably to explore how to influence the innovation in-to the impact of the single static . This paper discusses the effect of enterprise performance on innovation investment in different age stages . By selecting the manufacturing list corporation in 2009-2013 dynamic data samples , this paper gets conclusion that enterprise innovation investment has a dynamic effect , and as companies grow , positive effect is more obvious . Enterprise performance and dynamic innovation investment show the characteristics of U . As companies grow , enterprise performance reduces susceptibility to the influence of dynamic in-novation investment .
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