1[2 {"id":"C1","text":"The two-way fixed-effects estimate of beta is 0.6045.","results_keys":["beta_fe"],"status":"supported","caveat":"Conditional association; causal reading requires strict exogeneity."},3 {"id":"C2","text":"The FE slope is about half the pooled OLS slope (1.268), indicating firm/year effects correlated with x.","results_keys":["beta_fe","beta_pooled"],"status":"supported","caveat":"Interpretation of the gap is descriptive."},4 {"id":"C3","text":"The firm-clustered SE (0.0450) exceeds the conventional SE (0.0326) by a factor of about 1.38.","results_keys":["se_cluster","se_conventional","se_cluster_ratio_to_conventional"],"status":"supported","caveat":"CR1 with nested-FE dof convention; alternatives 0.0446-0.0471."},5 {"id":"C4","text":"The 95% cluster-robust CI for beta is [0.515, 0.694], excluding zero.","results_keys":["beta_ci_low","beta_ci_high"],"status":"supported","caveat":"Uses t(99) critical value."},6 {"id":"C5","text":"The panel is balanced with 100 firms x 12 years, and all 1200 rows were analysed with no exclusions.","results_keys":["n_firms","n_years","n_analysed","n_input_rows","data_issues"],"status":"supported","caveat":""}7]8