spb/wp17_uqo

1% Generated by scripts/r3k_20_tables_v2.py from results/r3k_v2/results2.json (mht, spec_curve), results_event.json (mht_event) -- do not edit by hand (FIRC-0002 v2.1, Stage E exhibits).2% Placement decided at Stage E: main. \input{tables/tab_mht} on its own prints the whole float; inside an existing float wrapper only the body is printed.3\ExhibitTable{tab:mht}{\textbf{Multiple-testing adjustments by family of tests.} For each family of tests reported in the paper: the family size, the smallest unadjusted $p$, the smallest Holm (family-wise) and Benjamini--Hochberg (false-discovery-rate) adjusted $p$, the smallest Romano--Wolf step-down $p$ (max-$t$ on shared bootstrap draws), the number of members with $|t| > 3$, and the unadjusted / Romano--Wolf $p$ of the headline member (the EW composite spread or the baseline row). The deflated Sharpe ratio and the specification curve summarize the search over long--short series and specifications.}{\scriptsize}{%4\begin{threeparttable}\setlength{\tabcolsep}{3pt}5\begin{tabular}{lrrrrrrr}6\toprule7Family & Size & min $p$ & min Holm & min BH & min RW & $|t| > 3$ & \makecell[b]{Headline $p$ \\ {/ RW $p$}} \\8\midrule9\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Full-sample spreads, Table~\ref{tab:sortsboth} (EW and VW, five signals; wins.)} & 10 & 0.018 & 0.176 & 0.135 & 0.147 & 0 & 0.10 / 0.32 \\10\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Pre-launch spreads, same family} & 10 & 0.063 & 0.633 & 0.267 & 0.305 & 0 & 0.16 / 0.49 \\11\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Post-launch spreads, same family} & 10 & 0.188 & 1.000 & 0.712 & 0.774 & 0 & 0.50 / 0.77 \\12\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Form Fama--MacBeth slopes, Table~\ref{tab:filingtype}} & 3 & 0.026 & 0.079 & 0.050 & 0.053 & 0 & -- \\13\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Robustness rows, pre, Table~\ref{tab:robust}} & 12 & 0.085 & 1.000 & 0.447 & 0.378 & 0 & 0.29 / 0.61 \\14\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Robustness rows, post, Table~\ref{tab:robust}} & 12 & 0.011 & 0.126 & 0.126 & 0.502 & 1 & 0.85 / 0.50 \\15\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Factor $\times$ post interactions, Table~\ref{tab:placebo} (wild $p$)} & 8 & 0.025 & 0.201 & 0.201 & 0.048 & -- & -- \\16\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Candidate break years, Table~\ref{tab:cohorts} (bootstrap $p$)} & 10 & 0.065 & -- & -- & 0.268 & -- & 0.72 / 0.91 (2022) \\17\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Event-study CDA statistics, Table~\ref{tab:eventcda}, benchmark (a)} & 35 & 0.003 & 0.088 & 0.036 & -- & -- & -- \\18\midrule19\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Deflated Sharpe ratio of the composite long--short (93 trials, SR hurdle 0.55): full / pre / post} & \multicolumn{7}{l}{0.35 / 0.46 / 0.29} \\20\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Specification curve, 1,152 specifications (Figure~\ref{fig:speccurve}): positive / positive and NW-significant (plain) / negative and significant} & \multicolumn{7}{l}{84\% / 39\% (35\%) / 1.5\%} \\21\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Specification curve: median spread (pp) and interquartile range} & \multicolumn{7}{l}{+3.9 [+0.7, +8.5]} \\22\multicolumn{1}{>{\raggedright\arraybackslash}p{0.36\textwidth}}{Statistics meeting the Harvey--Liu--Zhu $|t| > 3$ hurdle across the cohort families} & \multicolumn{7}{l}{1 of 57} \\23\bottomrule24\end{tabular}25\begin{tablenotes}[flushleft]\scriptsize26\item \emph{Notes:} Cohort families: shared cohort-resampling bootstrap (9,999 draws) with recentred $t$-statistics; interaction family: shared Webb wild-cluster draws by cohort; event family: Holm and BH on the CDA $p$-values. Reading: no family contains a result that survives the Romano--Wolf adjustment except the cybersecurity interaction (Table~\ref{tab:placebo}); the headline composite spread has a Romano--Wolf $p$ of 0.32 within its ten-member family. Member-level detail: Tables~\ref{tab:mhtfull} and \ref{tab:mhtfullb}. Source: results/r3k\_v2/results2.json (mht, spec\_curve), results\_event.json (mht\_event).27\end{tablenotes}28\end{threeparttable}}29