The Impact of Intelligent Development on Human Capital Misallocation: A Fixed-Effects Regression Analysis

Based on the Hausman test, a fixed-effect model that controls for both regional and time effects was employed to estimate the baseline model. The regression results of intelligent development and human capital misallocation are presented in Table 2. In column (1), the regression analysis reveals that the coefficient of intelligent is statistically significant at the 1% level, indicating a negative effect on misallocation. Upon inclusion of control variables in column (2), the coefficient magnitude changes, yet remains statistically significant, demonstrating that intelligent development can significantly mitigate human capital misallocation. Columns (4)-(6) further investigate the impact of intelligent conditions, applications, and technologies on misallocation. The findings suggest that all three factors contribute to correcting misallocation, with intelligent conditions exhibiting the strongest effect, followed by intelligent applications. Specifically, a 10% increase in intelligent conditions results in a 4.674% reduction in human misallocation.