In this study, we distinguished two categories of team-based human resource management (HRM) practices, team competencies development and motivation and team organization design, and explored the effects of these team-based HRM practices and social capital on team knowledge sharing and innovation performance. Analysizing data from 63 R&D teams, we found team competencies development and motivation have positive effects on team knowledge sharing and constraint adherence. There are also positive relationships between team organization design and innovativeness and constraint adherence. The interaction between two team-based HRM practices also has positive effect on knowledge sharing. In respect of social capital variables, trust, shared value and informal interaction also facilitate knowledge sharing and innovation performance. We also found the effects of team competencies development and motivation on knowledge sharing and constraint adherence are mediated by shared value.