Abstract:The existing literatures researching on the relationship of technological diversification and firm innovation performance have a lack of study from technological breadth and depth of technological diversification ,also ignore that dynamic capabilities have moderating effects on the relationship of technological diversification and firm innovation performance.The paper is an empirical research on the relationship of technological breadth or depth and firm innovation performance and moderating effects of dynamic capabilities based on panel data of public firms listed on GEM in China.The research results show that technological breadth has a positive effect on firm innovation performance.Technological depth has a positive effect on firm innovation performance.Dynamic capabilities has a significant positive moderating effects on the relationship between technological breadth or depth and firm innovation performance.This conclusion enriches the diversification strategy theory and dynamic capabilities theory,at the same time,supplying theoretical guidance for operating technological innovation effectively.