本研究选择168家上市公司作为样本，通过门槛检验模型研究企业增加价值分配结构对创新绩效脆弱性的影响，实证结果表明：当前中国企业的创新绩效水平是脆弱的，创新匮乏和不可解释风险是脆弱性产生的根本原因，并且匮乏和脆弱的情况正在恶化；企业的增加价值分配结构中，股东所得、债权人所得和政府所得与创新绩效脆弱性之间存基于托宾Q的门槛效应；员工所得与创新绩效脆弱性之间不存槛效应，对员工实行薪酬激励有利于降低创新绩效脆弱性，但其经济效果并不显著。

This paper selects 168 public companies as the research object, makes an estimation in threshold characters to analysis the influence from added value distribution to innovation performance vulnerability. The results show that the majority of innovation performance are vulnerable, the innovation poverty and unexplained risk is the main source of vulnerability, the situation of innovation poverty and vulnerability is degeneration; there are significant threshold effects from shareholder’s share, creditor’s share and government’s share to innovation performance vulnerability with Tobin’s Q; there is no significant threshold effects from staff’s share to innovation performance vulnerability with, salary incentive may decreases the innovation performance vulnerability but its economic effects are un-significance.