Does Human Capital Homogeneously Improve the Corporate Innovation: Evidence from China’s Higher Education Expansion in the Late 1990s

The effect of human capital on corporate innovation varies with the distribution intensity among industries. To analyze this heterogenous effect, we utilized variation college enrollment expansion across different regions in China as an exogenous shock. Using a sample Chinese industrial enterprises from 1998 to 2008 and difference-in-difference strategy, found that industries intensive significantly increase number patent applications after policy. is pronounced invention patents positive exporting capital-intensive corporates. As for channels, corporates these are apt adopt new technologies R&D expenditures. Moreover, agglomeration graduates accelerates knowledge spillover, thus promoting knowledge-intensive In sum, paper verifies importance policy intervention skilled labor supply towards supports talent introduction plan local government China.