spb/wp17_uqo

1% Generated by scripts/r3k_20_tables_v2.py from results/r3k_v2/results2.json (did_eventtime*) -- do not edit by hand (FIRC-0002 v2.1, Stage E exhibits).2% Placement decided at Stage E: appendix. \input{tables/tab_eventtime} on its own prints the whole float; inside an existing float wrapper only the body is printed.3\ExhibitTable{tab:eventtime}{\textbf{Event-time profile of the premium on pre-determined AI exposure, Russell~3000.} Slope of the forward return (within-year winsorized, pp per SD) on pre-determined AI exposure by outcome cohort, with firm-clustered standard errors in parentheses. The first pair of columns reproduces the committed coding (interaction without a main effect, which estimates one absolute slope per cohort); the second pair restores the main effect so that the coefficients are differences from the 2021 reference cohort (zero by construction); the third pair replaces the 2019--21 exposure by the mean composite over the three years before each outcome year.}{\scriptsize}{%4\begin{threeparttable}\setlength{\tabcolsep}{4pt}5\begin{tabular}{lrrrrrr}6\toprule7Outcome cohort & \multicolumn{2}{c}{Committed coding: absolute slope} & \multicolumn{2}{c}{Difference from reference} & \multicolumn{2}{c}{Trailing exposure: difference} \\8\cmidrule(lr){2-3}\cmidrule(lr){4-5}\cmidrule(lr){6-7} & (pp/SD) & (SE) & (pp/SD) & (SE) & (pp/SD) & (SE) \\9\midrule102014 & +3.1 & (0.8) & -2.8 & (1.3) & -5.4 & (1.3) \\112015 & +3.4 & (0.9) & -2.5 & (1.3) & -4.1 & (1.4) \\122016 & +3.7 & (0.9) & -2.2 & (1.3) & -3.7 & (1.4) \\132017 & +4.6 & (0.8) & -1.3 & (1.3) & -3.1 & (1.3) \\142018 & +7.7 & (1.0) & +1.8 & (1.3) & +1.5 & (1.3) \\152019 & +0.2 & (2.0) & -5.8 & (2.1) & -4.0 & (2.2) \\162020 & -0.9 & (0.7) & -6.8 & (1.2) & -7.5 & (1.2) \\172021 (reference) & +5.9 & (1.0) & +0.0 & (0.0) & +0.0 & (0.0) \\182022 & +0.4 & (1.0) & -5.6 & (1.2) & -5.5 & (1.3) \\192023 & +4.0 & (1.2) & -1.9 & (1.6) & -2.2 & (1.6) \\202024 & +7.6 & (2.4) & +1.7 & (2.7) & +1.7 & (2.7) \\21\bottomrule22\end{tabular}23\begin{tablenotes}[flushleft]\scriptsize24\item \emph{Notes:} Reference-cohort slope with the main effect restored: +5.9 pp/SD ($t$ 5.95); $N$ = 21{,}111 (trailing: 20{,}600). With the 2019--21 exposure, cohorts before 2019 interact future language with past outcomes (look-back selection, not a pre-trend test). The pre-launch differences are not zero, so the parallel-trends condition behind Table~\ref{tab:didspid} Panel A fails and the post-launch coefficients are relative to a reference year that itself carried the largest slope. Plotted with 95\% CIs in Figure~\ref{fig:eventtime}. Source: results/r3k\_v2/results2.json (did\_eventtime, did\_eventtime\_trailing).25\end{tablenotes}26\end{threeparttable}}27