{
  "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 realised default history through 2022 and sample-average leverage; not known at end of origin year t (outcome leakage)."
    }
  ],
  "beta_leverage": 0.2637836102938267,
  "se_leverage_cluster": 0.0407569280434615,
  "r2": 0.03490564212216729,
  "default_rate": 0.12111111111111111,
  "feasibility": "complete",
  "feasibility_reason": null,
  "data_issues": [
    {
      "issue": "40 exact duplicate rows (40 duplicated firm_id-year keys, all with identical values)",
      "handling": "kept one copy of each; after dedup the panel is balanced (300 firms x 7 years)"
    },
    {
      "issue": "300 unique firm-years with empty default_next (origin years [2022]; outcome year not observed by end-2022 data cut)",
      "handling": "excluded from estimation, not imputed; listed in exclusions.csv"
    },
    {
      "issue": "rating_2025 is a post-period (2025) field derived from realised defaults: information leakage",
      "handling": "excluded from predictors and from analytic.csv"
    }
  ],
  "n_input_rows": {
    "firm_panel.csv": 2140
  },
  "random_seed": null,
  "supp_ci95_leverage_cluster": [
    0.18390149920815163,
    0.34366572137950174
  ],
  "supp_pvalue_leverage_cluster": 9.663918872288981e-11,
  "supp_se_leverage_iid": 0.035820571091069786,
  "supp_coef_cash_ratio": -0.18594837465723182,
  "supp_coef_log_sales": -0.007342181807581363,
  "supp_intercept": 0.08997926409935522,
  "supp_n_defaults": 218
}