Abstract: 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.

Key words:  innovation performance, vulnerability, added value distribution, threshold effects