The main aim of this research is to analyze whether the firm's innovation capacity and innovation performances differs according to the level of training/education of its managers as well as analyzing whether the capacity of innovation of the companies effects the innovation performances. To do this, the data was gathered by means of a questionnaire from 456 participating managers working in 274 firms listed among the top 500 companies in Turkey. The research hypotheses were tested by analyzing obtained data by making confirmatory factor analyses, correlations analysis, reliability analysis, one-way ANOVA analysis and regression with SPSS 24 software. As a result of the research, in terms of innovation performance, there is a difference between the managers who have master's degree and the managers who have other training/educational level. In addition to these, firm's innovation capacity significantly effects innovation performance in a positive way.