This article used the data of the Shanghai and Shenzhen A-share Internet industry listed companies from 2015 to 2019 as a research sample to explore the relationship between corporate innovation culture and innovation ability. From the perspective of signaling theory, the influence of innovation culture on the corporate innovation ability is analyzed to help stakeholders effectively identify the innovation level of different enterprises under the condition of information asymmetry. The empirical results show that corporate innovation culture has a significant positive effect on innovation ability, and R&D investment is beneficial to strengthen the positive effect of innovation culture on innovation ability. Through the results of this paper, it is further verified that innovation culture is a signal reflecting corporate innovation and plays an important role in innovative development of enterprise. It expanded the application of signaling theory in the field of enterprise innovation and provided some practical references for the Internet enterprises.