[
 {"id":"C1","text":"The two-way fixed-effects estimate of beta is about 0.604.","results_keys":["beta_fe","beta_fe_within_check"],"status":"supported","caveat":"Interpretable as causal only under strict exogeneity given firm and year effects."},
 {"id":"C2","text":"The naive pooled OLS slope (about 1.268) is roughly twice the TWFE slope, indicating fixed effects correlated with x.","results_keys":["beta_pooled","beta_fe"],"status":"supported","caveat":"Does not identify whether firm or year effects drive the gap."},
 {"id":"C3","text":"Firm-clustered SE (0.0471) exceeds the conventional SE (0.0326) by a factor of about 1.44.","results_keys":["se_cluster","se_conventional","se_ratio_cluster_to_conventional"],"status":"supported","caveat":"CR1 with K counting all LSDV parameters; alternative conventions give 0.0446-0.0451."},
 {"id":"C4","text":"The 95% firm-clustered CI for beta is [0.511, 0.698], excluding zero and the pooled estimate.","results_keys":["beta_ci_low","beta_ci_high","ci_critical_value_t_Gminus1","beta_pooled"],"status":"supported","caveat":"Uses t(G-1) critical value; relies on G=100 cluster asymptotics."},
 {"id":"C5","text":"The panel is balanced with 100 firms x 12 years, all 1200 rows used, no data issues.","results_keys":["n_firms","n_years","n_analysed","n_input_rows","data_issues"],"status":"supported","caveat":""},
 {"id":"C6","text":"Clustered SE conclusions are insensitive to the small-sample degrees-of-freedom convention.","results_keys":["se_cluster","se_cluster_sensitivity_firmFE_not_counted","se_cluster_CR0_no_correction"],"status":"supported","caveat":""}
]