Non-certified Issuers	Certified Issuers
time_rel = 2 × treatment	55.050; p=0.419	-204.788; p=0.028
	(62.472)	(89.318)
time_rel = 3 × treatment	-35.392; p=0.436	-216.353; p=0.022
	(41.830)	(90.273)
Num.Obs.	18	111
R2	0.887	0.830
R2 Adj.	0.759	0.717
R2 Within	0.165	0.141
R2 Within Adj.	-0.044	0.115
AIC	230.5	1626.7
BIC	239.4	1748.6
RMSE	83.77	245.41
Std.Errors	by: firm_id	by: firm_id
FE: firm_id	X	X
FE: year	X	X