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This study aims to explore the effect of innovation ecosystem stability (IES) on innovation performance of enterprises through the mediating role of knowledge acquisition (KA), and to study how these effects are moderated by unabsorbed slack.

This study draws on data from 327 Chinese enterprises and adopts the multiple linear regression method and bootstrapping method to explore the mediating effect of KA and its moderated mediating effect.

The results demonstrate that IES is positively associated with innovation performance of enterprises, and KA plays a partially mediating role. Moreover, unabsorbed slack negatively moderates the relationship between IES and KA as well as the mediating effect of KA.

This study investigates the relationship between IES and innovation performance, and the mechanism of influence, which has not been previously studied in the field of innovation ecosystem. This study also examines the interaction between unabsorbed slack and IES and further clarifies the mechanism and boundary conditions of the impact of IES on innovation performance.