1[2 {"id":"C1","text":"The estimation sample contains 1800 firm-years from 300 firms after removing 40 exact duplicates and 300 firm-years (origin 2022) with unobserved outcome from 2140 input rows.","results_keys":["n_analysed","n_firms","n_input_rows","supp_n_exact_duplicates"],"status":"supported","caveat":"Duplicates assumed to be verbatim assembly copies."},3 {"id":"C2","text":"rating_2025 violates the information-availability rule and is excluded from the analytic dataset.","results_keys":["variables_excluded","predictors_used"],"status":"supported","caveat":"Based on the codebook description of the field."},4 {"id":"C3","text":"Holding cash ratio and log sales fixed, leverage at end of year t is positively associated with default in t+1: beta_leverage = 0.264 (firm-clustered SE 0.041, 95% CI 0.184–0.344).","results_keys":["beta_leverage","se_leverage_cluster","supp_ci95_leverage_cluster","supp_pvalue_leverage_cluster"],"status":"supported","caveat":"Descriptive LPM association on simulated data, not causal."},5 {"id":"C4","text":"The baseline default rate in the estimation sample is 12.1% and the model R2 is 0.035.","results_keys":["default_rate","r2"],"status":"supported","caveat":""}6]7