Firms often take independent and collaborative R&D activities simultaneously. Yet, they fail to synergize these R&D activities to enhance firm performance. This study investigates the joint impact of independent and collaborative R&D activities on firm performance as well as the moderating role played by absorptive capacity in the joint effect. Drawing on the data of 286 firms, this study finds that there is a negative relationship between the interaction of independent and collaborative R&D activities and firm performance, and the moderating effect of absorptive capacity on this relationship is also negative. The findings not only enrich the discipline’s knowledge on the performance implications of independent and collaborative R&D activities, but also provide some guidance for firms to synergize independent and collaborative R&D activities.