{
  "task_id": "F1-conf-03",
  "n_analysed": 1800,
  "n_firms": 300,
  "predictors_used": [
    "leverage",
    "cash_ratio",
    "log_sales"
  ],
  "variables_excluded": [
    {
      "variable": "rating_2025",
      "reason": "Final-vintage field assigned in 2025 using the firm's complete realised default history through 2022 and sample-average leverage; not known at end of origin year t (look-ahead / outcome leakage). Dropped from the analytic dataset."
    }
  ],
  "beta_leverage": 0.2637836102938267,
  "se_leverage_cluster": 0.0407569280434615,
  "r2": 0.03490564212216729,
  "default_rate": 0.12111111111111111,
  "feasibility": "complete",
  "feasibility_reason": null,
  "data_issues": [
    {
      "issue": "rating_2025 is a final-vintage (2025) field derived from realised defaults through 2022 (in the raw file only D-rated firms ever default) - look-ahead leakage",
      "handling": "excluded from predictors and from out/analytic.csv"
    },
    {
      "issue": "40 exact duplicate rows (40 duplicated firm_id-year keys; all duplicates identical on every column); file has 2140 rows vs 300 firms x 7 years = 2100 intended",
      "handling": "kept the first occurrence of each duplicated row; after de-duplication every firm has exactly 7 years"
    },
    {
      "issue": "300 unique firm-years have unobserved default_next (origin years [2022]: outcome year 2023 after the data cut)",
      "handling": "excluded from estimation; outcomes not imputed"
    },
    {
      "issue": "leverage has a mass point of 54 analysed rows at its minimum 0.02 (apparent floor/censoring in the simulated data)",
      "handling": "kept as recorded; noted as limitation (values are within the valid [0,1] range)"
    }
  ],
  "n_input_rows": {
    "firm_panel.csv": 2140
  },
  "random_seed": null,
  "ci95_leverage_cluster": [
    0.18390149920815163,
    0.34366572137950174
  ],
  "coef_all": {
    "const": 0.08997926409935522,
    "leverage": 0.2637836102938267,
    "cash_ratio": -0.18594837465723182,
    "log_sales": -0.007342181807581363
  },
  "se_cluster_all": {
    "const": 0.04351602070943679,
    "leverage": 0.0407569280434615,
    "cash_ratio": 0.0588860837664576,
    "log_sales": 0.007626106514531905
  },
  "baseline_beta_leverage_bivariate": 0.2665733756507353,
  "se_leverage_nonrobust": 0.035820571091069786,
  "input_sha256": "a1f1af88b1ab05900155991f2468cce09695af978923e5bc3ef9c28d45683b6f"
}