Abstract：Based on the 2006—2011 panel data of Chinese listed group companies, this paper studies the innovation performance of business group from the perspective of the external institutional environment and internal strategic choice.The empirical results showed that the higher the degree of market and the level of government-affiliation are, the higher the innovation performance of the business group is.In addition, product diversification and external institutional environment have combined impact on their innovation performance.
2013, 
