{
  "placebo": {
    "AI adoption": {
      "pre": [
        0.0216,
        2.04,
        12
      ],
      "post": [
        0.1427,
        2.15,
        3
      ],
      "interaction": 0.0199,
      "interaction_t": 1.17,
      "is_ai": true
    },
    "AI infrastructure": {
      "pre": [
        0.0143,
        0.91,
        12
      ],
      "post": [
        0.1355,
        2.44,
        3
      ],
      "interaction": 0.0277,
      "interaction_t": 2.63,
      "is_ai": true
    },
    "AI disruption risk": {
      "pre": [
        0.0313,
        2.47,
        12
      ],
      "post": [
        0.1407,
        2.07,
        3
      ],
      "interaction": 0.0108,
      "interaction_t": 0.6,
      "is_ai": true
    },
    "ESG commitment": {
      "pre": [
        -0.0248,
        -2.82,
        12
      ],
      "post": [
        -0.0878,
        -2.27,
        3
      ],
      "interaction": -0.0055,
      "interaction_t": -0.76,
      "is_ai": false
    },
    "Climate risk": {
      "pre": [
        -0.0079,
        -1.38,
        12
      ],
      "post": [
        -0.0495,
        -2.48,
        3
      ],
      "interaction": 0.0008,
      "interaction_t": 0.17,
      "is_ai": false
    },
    "Cybersecurity": {
      "pre": [
        0.0261,
        1.96,
        12
      ],
      "post": [
        0.1347,
        2.12,
        3
      ],
      "interaction": 0.009,
      "interaction_t": 0.64,
      "is_ai": false
    },
    "Automation/labor": {
      "pre": [
        0.0209,
        1.91,
        12
      ],
      "post": [
        0.0722,
        1.29,
        3
      ],
      "interaction": 0.0002,
      "interaction_t": 0.01,
      "is_ai": false
    },
    "Macro risk": {
      "pre": [
        -0.0157,
        -2.02,
        12
      ],
      "post": [
        -0.005,
        -0.11,
        3
      ],
      "interaction": 0.0125,
      "interaction_t": 1.06,
      "is_ai": false
    }
  },
  "sector_neutral": {
    "full": [
      0.0258,
      2.55,
      15
    ],
    "pre": [
      0.0228,
      3.35,
      12
    ],
    "post": [
      0.0377,
      0.84,
      3
    ]
  },
  "double_sort_post": {
    "Lo": {
      "Small": 19.46,
      "Large": 15.75
    },
    "Mid": {
      "Small": 19.25,
      "Large": 18.34
    },
    "Hi": {
      "Small": 34.55,
      "Large": 22.87
    }
  },
  "double_sort_pre": {
    "Lo": {
      "Small": 19.68,
      "Large": 13.78
    },
    "Mid": {
      "Small": 21.92,
      "Large": 14.32
    },
    "Hi": {
      "Small": 23.59,
      "Large": 13.63
    }
  },
  "mag7": {
    "baseline_post": [
      0.1457,
      2.07,
      3
    ],
    "ex_mag7_post": [
      0.1408,
      1.92,
      3
    ],
    "ex_top10_post": [
      0.1446,
      1.93,
      3
    ],
    "ex_mag7_pre": [
      0.0172,
      1.07,
      12
    ]
  },
  "alt_signal": {
    "wmean(base)": {
      "pre": [
        0.0245,
        1.58,
        12
      ],
      "post": [
        0.1457,
        2.07,
        3
      ]
    },
    "mean": {
      "pre": [
        0.0228,
        1.5,
        12
      ],
      "post": [
        0.134,
        2.23,
        3
      ]
    },
    "top5pct": {
      "pre": [
        0.0145,
        1.04,
        12
      ],
      "post": [
        0.1493,
        2.47,
        3
      ]
    }
  },
  "alt_horizon": {
    "6m": {
      "pre": [
        -0.0008,
        -0.1,
        12
      ],
      "post": [
        0.0113,
        NaN,
        2
      ]
    },
    "24m": {
      "pre": [
        0.0935,
        2.86,
        12
      ],
      "post": [
        0.2297,
        NaN,
        2
      ]
    }
  },
  "fm_byyear": [
    {
      "year": 2010,
      "coef": -0.018654282938673942,
      "se": 0.009695472645955529,
      "t": -1.9240199647673273
    },
    {
      "year": 2011,
      "coef": 0.001435148364027885,
      "se": 0.014380433340074323,
      "t": 0.09979868687465211
    },
    {
      "year": 2012,
      "coef": 0.035395857398994125,
      "se": 0.013905930789781194,
      "t": 2.5453785103694644
    },
    {
      "year": 2013,
      "coef": -0.032820156109442514,
      "se": 0.010621142759634813,
      "t": -3.0900776735789743
    },
    {
      "year": 2014,
      "coef": 0.010841711196201686,
      "se": 0.011867660354719292,
      "t": 0.913550849295276
    },
    {
      "year": 2015,
      "coef": 0.006479326366460515,
      "se": 0.013412889918344231,
      "t": 0.48306713958779457
    },
    {
      "year": 2016,
      "coef": 0.02707984005478753,
      "se": 0.012550003254423663,
      "t": 2.157755620122437
    },
    {
      "year": 2017,
      "coef": 0.0034972629856182416,
      "se": 0.01185096368675719,
      "t": 0.29510367916545416
    },
    {
      "year": 2018,
      "coef": 0.02054631106669548,
      "se": 0.01529739209321126,
      "t": 1.34312508573364
    },
    {
      "year": 2019,
      "coef": 0.003701229917838984,
      "se": 0.016590868923261604,
      "t": 0.22308837077542037
    },
    {
      "year": 2020,
      "coef": -0.009948325957169268,
      "se": 0.010769886400730438,
      "t": -0.9237168886474559
    },
    {
      "year": 2021,
      "coef": 0.03148733358665427,
      "se": 0.030271538243484185,
      "t": 1.040162985223646
    },
    {
      "year": 2022,
      "coef": 0.02932795595191831,
      "se": 0.018450575696434473,
      "t": 1.589541509947891
    },
    {
      "year": 2023,
      "coef": -0.011106516046450746,
      "se": 0.022395723028705686,
      "t": -0.49592129855396877
    },
    {
      "year": 2024,
      "coef": 0.14336824520911068,
      "se": 0.051926640844281974,
      "t": 2.7609766947768586
    }
  ],
  "pca": {
    "explained_var_ratio": [
      0.868,
      0.087,
      0.045
    ],
    "loadings_pc1": [
      -0.591,
      -0.564,
      -0.577
    ],
    "pre": [
      0.026,
      2.25,
      12
    ],
    "post": [
      0.134,
      1.97,
      3
    ]
  },
  "did": {
    "binary": {
      "coef": 0.017,
      "t": 0.78,
      "n": 6790
    },
    "continuous": {
      "coef": 0.0269,
      "t": 1.51,
      "n": 6790
    }
  },
  "did_eventtime": [
    {
      "year": 2015,
      "coef": 0.038502495574478234,
      "se": 0.013647551181681136
    },
    {
      "year": 2016,
      "coef": 0.029540519812011834,
      "se": 0.012753810613341071
    },
    {
      "year": 2017,
      "coef": 0.0020874489718798435,
      "se": 0.011114057494232506
    },
    {
      "year": 2018,
      "coef": 0.022522749526366168,
      "se": 0.01461694854274626
    },
    {
      "year": 2019,
      "coef": -0.0027932633763403172,
      "se": 0.015538493690487308
    },
    {
      "year": 2020,
      "coef": -0.011764718161458482,
      "se": 0.009738245327623967
    },
    {
      "year": 2021,
      "coef": 0.01569341537446243,
      "se": 0.015873370796659073
    },
    {
      "year": 2022,
      "coef": 0.033814541323192,
      "se": 0.01564722010647861
    },
    {
      "year": 2023,
      "coef": 0.005122643968623537,
      "se": 0.01576196920371611
    },
    {
      "year": 2024,
      "coef": 0.06760337692913146,
      "se": 0.02251728487512382
    }
  ],
  "fwd_vol": {
    "pre": [
      0.0202,
      2.4,
      12
    ],
    "post": [
      0.0285,
      3.09,
      3
    ]
  }
}