中國已在2012年成為世界專利第一大國，但若深入探討則發現技術創新的專利數不多，增加的大多為產品外觀設計上的專利。因此本研究欲了解這樣的研發經費提升是否真的帶來成長動能，並期望藉由本架構了解在中國的環境背景下，最適合中國中小企業的策略，並了解這樣的專利迷思下是否為企業帶來真正競爭優勢。故本研究欲聚焦於中國中小企業，探討這樣的現象長期下是否對公司財務與創新績效有正面影響。以TEJ+台灣經濟新報資料庫做為資料蒐集的來源，針對深圳證交所中小企業板塊中的721家企業進行篩選，最後以326家資料完整的企業做為分析對象，並以STATA 10.0此軟體針對樣本進行多年期資料分析，以了解本研究之研究問題。
以下為本研究詳細的研究問題:
(1) 中國中小企業創新策略選擇對組織創新績效與財務績效的影響
(2) 在創新的過程中，調節創新策略選擇與公司績效關係的能力
(3) 組織規模、組織年齡等控制因素對中國中小企業創新能力的影響
本研究發現，對中國中小企業而言，創新投入與創新績效間呈倒U行關係，而創新投入對於財務績效間則呈現負正負的S型關係。公司能力方面，行銷能力負向調節創新投入對創新績效和對財務績效間的關係，而管理能力則加速調節創新投入與創新績效間的關係，但對創新投入對財務績效的關係則為負向調節。

The objective of the research is to discuss following question:
1. The impact of innovation strategy on firm’s innovation performance and financial performance, take small and medium size firms in China as main research subject.
2. What are the most important capabilities firms should have in order to make innovation strategies successful.
3. The impact of firm size, firm age on the relationship between innovative inputs and innovation performance and on the relationship between innovative inputs and financial performance.
The main empirical findings are as follows: (1) There is a reverse “U” shape relationship between innovative inputs and innovation performance. (2) There is a “S” shape relationship between innovative inputs and financial performance. (3) Marketing capability negatively moderates the relationship between innovative inputs and innovation performance. (4) Marketing capability negatively moderates the relationship between innovative inputs and financial performance. (5) Management capability positively moderates the relationship between innovative inputs and innovation performance. (6) Management capability negatively moderates the relationship between innovative inputs and financial performance.

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