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Abstract Innovation has great significance to the family firms with the goal of "evergreen". Using the data from 2011 to 2015 of family firms in China, this paper focuses the relationship between team stability and corporate innovation, and the moderating effects of expectation gap and institutional efficiency based on social emotional wealth theory and corporate behavior theory. These results show that the correlation between team stability and corporate innovation is positive; the expected deficit has no significant influence on the relationship between team stability and corporate innovation and the expected surplus weakens the positive relationship between team stability and corporate innovation; institutional efficiency will weaken the positive relationship between team stability and corporate innovation. Furthermore, the level of family involvement does not have a significant impact on the relationship between team stability and corporate innovation. From the perspective of team, the paper studies the innovation problem of family firms, enriches the existing research perspective and has theoretical significance for family firms' innovation activities.
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