Research On The Influence Of Human Capital On The High Quality Development Of Equipment Manufacturing Industry

At present,China has formed a relatively complete development system of equipment manufacturing industry.In 2009,the total output value of China’s equipment manufacturing industry leaped to the first place in the world,and continues to this day.However,it is worth noting that there are still "big but not strong" problems in China’s equipment manufacturing industry.Equipment manufacturing enterprises lack the ability of independent innovation,and their core technologies are highly dependent on foreign countries.At the same time,they face the problems of overcapacity and transformation and upgrading.Human capital is a valuable asset for the development of equipment manufacturing enterprises.How to promote the high-quality development of China’s equipment manufacturing industry through effective investment and rational allocation of human capital has become a common problem for enterprises and governments.Therefore,the research on the relationship between human capital and high-quality development of equipment manufacturing industry has strong theoretical and practical significance.This paper focuses on the spillover effect of heterogeneous human capital on the high-quality development of equipment manufacturing industry.On the basis of existing theories,this paper explores the power mechanism and transmission mechanism of heterogeneous human capital to promote the high-quality development of China’s equipment manufacturing industry.By constructing the index system to measure the development level of China’s equipment manufacturing industry,this paper analyzes the development level of China’s equipment manufacturing enterprises and industries.At the same time,we use the panel data of 60 listed equipment manufacturing enterprises in 2009-2018 to conduct empirical research.The first is to use the panel co integration and error correction model to reveal the long-term and short-term spillover effects of innovative human capital on the high-quality development of China’s equipment manufacturing industry;the second is to use the quadratic term to study the "inverted U" effect of technological human capital on the high-quality development of China’s equipment manufacturing industry.The third is to introduce R&D investment as an intermediary variable to study the direct and indirect impact of executive human capital on the high-quality development of China’s equipment manufacturing industry.The results show that heterogeneous human capital plays an important role in improving the development level of China’s equipment manufacturing industry through different mechanisms.First,innovative human capital has long-term and short-term spillover effects on the high-quality development of China’s equipment manufacturing industry.Secondly,technological human capital has an inverted "U" effect on the high-quality development of China’s equipment manufacturing industry.Third,the high-level human capital promotes the high-quality development of China’s equipment manufacturing industry through two different paths.One is to promote the development level of China’s equipment manufacturing industry through direct effect;the other is to indirectly influence the development level of China’s equipment manufacturing industry through the intermediary variable of R & D investment.Therefore,in order to further promote the high-quality development of China’s equipment manufacturing industry,we should strengthen the investment of human capital in equipment manufacturing industry,establish and improve the talent incentive mechanism,and strive to improve the innovation efficiency,build a corporate culture with "human capital" as the core.