The Impact of Intelligent Development on Human Capital Misallocation: Evidence from a Fixed-Effects Model

Based on the Hausman test, a fixed-effect model that controls for both regional and temporal effects is utilized to estimate the baseline model. Table 3 presents regression results that investigate the impact of intelligent development on human capital misallocation. In column (1), the regression results indicate that the coefficient of 'intelligent' is statistically significant at a 1% level, with a negative effect on misallocation. After including control variables in column (2), the coefficient magnitude changes, but remains significant, highlighting that intelligent development can significantly enhance the correction of human capital misallocation. Columns (4)-(6) further examine the impact of 'intelligent conditions', 'applications', and 'technologies' on misallocation. The results demonstrate that all three factors contribute to correcting misallocation, with 'intelligent conditions' having the strongest effect, followed by 'intelligent applications'. Moreover, the findings indicate that a 10% increase in 'intelligent conditions' leads to a 4.674% improvement in human capital misallocation.