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{\Large\bfseries Author Statement}\\[1em]
{\normalsize Manuscript: \emph{Faster, Wider, More Fragile? The Evolution of
Intraday Shock Propagation in U.S. Equity Markets, 1992--2026}}\\[0.3em]
{\normalsize Journal: International Review of Financial Analysis}
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\section*{CRediT authorship contribution statement}

\noindent\textbf{Simon-Pierre Boucher} (sole author):

\begin{description}
\item[Conceptualization.] Posed the research question, formulated the central
hypothesis on the asymmetric evolution of shock absorption and transmission,
and designed the overall research program.
\item[Methodology.] Developed the shock-identification framework
(leave-one-out residualization with strictly lagged loadings and robust
seasonal standardization), the matched-placebo difference-in-differences
estimand, the network-differential design, and the day-block bootstrap
inference.
\item[Software.] Wrote the full analysis pipeline, from checksum-verified
data acquisition through event detection, estimation, and automated table and
figure generation.
\item[Validation.] Designed and executed the multi-stage data audit
(calendar, timezone, integrity, corporate actions, survivorship) and the
falsification battery (pre-event tests, placebo networks,
announcement-window and tick-regime exclusions).
\item[Formal analysis.] Carried out all estimations and robustness analyses.
\item[Investigation.] Conducted the event-level study of 1.85 million
idiosyncratic shocks and the systemic co-jump analysis.
\item[Data curation.] Constructed the cleaned minute panel, the ticker-spell
identity map, the lagged trading universes, and the corporate-action screens,
with complete manifests and checksums.
\item[Writing --- original draft.] Wrote the manuscript.
\item[Writing --- review \& editing.] Revised the manuscript.
\item[Visualization.] Designed and produced all figures.
\end{description}

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\noindent All authors have read and approved the final version of the
manuscript and agree to its submission to the \emph{International Review of
Financial Analysis}.

\vspace{1.5em}
\noindent Simon-Pierre Boucher\\
D\'epartement des sciences administratives\\
Universit\'e du Qu\'ebec en Outaouais\\
July 13, 2026
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