本文旨在研究企业技术创新的持续性对其绩效的影响。在回顾相关理论的基础上，提出了关于创新持续性对企业绩效的影响和多元化强度对二者之间关系调节效应的基本假设，并利用201家中国制造业上市公司2006–2014年的面板数据进行实证检验。研究结果表明：(1)中国企业更重视挖掘型持续技术创新；(2)创新持续性与企业绩效之间呈现倒U型关系，二者之间的曲线关系在企业具备较高多元化强度时更加明显；(3)创新投入的持续性对创新产出的持续性有正向影响，但二者的协同对企业绩效的影响并不显著。

This paper aims to study whether the persistence of technological innovation has an effect on firm performance. Based on the related theory, this paper proposes some hypotheses related to the influence of the persistence of technological innovation on firm performance and the moderating effect of diversification intensity on above relationship. The empirical data contains 201 Chinese manufacturing listed firms during the period from 2006 to 2014. The results indicate that: (1) compared to the persistence of explorative innovation, Chinese firms put more emphasis on the persistence of exploitative innovation; (2) the persistence of innovation has an inverted U-shaped influence on firm performance, and this relationship is deeper in firms with high level of diversification intensity; (3) the input persistence of innovation has a positive impact on the output persistence of innovation, however the synergy of the two types persistence of innovation has no significant influence on firm performance.