\begin{table}[H]\centering
\caption{AI Disclosure $\times$ Size Double Sort}\label{tab:doublesort}
\small
\begin{tabular}{lcccc}\toprule
& Low AI & Mid AI & High AI & Hi$-$Lo \\\midrule
\multicolumn{5}{l}{\textit{Panel A. Pre-ChatGPT (2010--2021)}}\\
Small & 19.7 & 21.9 & 23.6 & +3.9 \\
Large & 13.8 & 14.3 & 13.6 & -0.1 \\
\midrule
\multicolumn{5}{l}{\textit{Panel B. Post-ChatGPT (2022--2024)}}\\
Small & 19.5 & 19.2 & 34.5 & +15.1 \\
Large & 15.8 & 18.3 & 22.9 & +7.1 \\
\bottomrule
\end{tabular}
\tablelegend{This table reports mean forward 12-month returns (in percent) from an independent double sort on AI disclosure and firm size. In each formation year firms are split into a small and a large half by the market-capitalization proxy, and within each half into AI terciles (Low, Mid, High); the column Hi$-$Lo is the high-minus-low AI return within each size group. Panel~A covers the pre-ChatGPT period (formation years 2010--2021) and Panel~B the post-ChatGPT period (2022--2024). The AI gradient is flat in both size halves before 2022 and steep afterward, and dramatically steeper among small firms---a pattern that is consistent with, but does not establish, an attention-based mechanism operating in less-followed stocks; the post-period cells rest on three cohorts and are dominated by the 2024 cohort.}
\end{table}