中文摘要：

对外直接投资逆向技术溢出效应已受到广泛关注,但该效应在不同地域和技术条件下的表现尚不确定,从而使以企业为对象的微观层面研究具有一定价值。考察了企业投资经营过程中的逆向技术溢出效应,结果显示,在企业研发强度达到某一门槛值后,能够实现逆向技术溢出效应;在未达到该门槛值之前,会出现无法实现逆向技术溢出效应的瓶颈阶段。企业应积极利用不同效应机制的适用阶段,积极加大研发投入,并通过联合、共性平台利用等途径提升企业创新能力。

英文摘要：

Reverse technology spillover effect of OFDI has received extensive attention. The performance of the effect in dif- ferent geographical and technical conditions is uncertain, so that it could make the micro--perspective research based on enterprise as an object valuable. By studying the reverse technology spillover effect of the Investment management busi- ness, it turned out that= after R＆D intensity reaches a certain threshold, reverse technology spillover effect can be a- chieved; Before R＆D intensity reaches a certain threshold, there will be unable to achieve bottleneck stage of the reverse technology spillover effect. That shows companies should actively use different applicable stages of effect mechanisms, ex- pand the R＆D investment, and obtain the ability to seek the core technology through the joint, common platforms.