Event-Study DiD by Certification Status
Estimates, standard errors, and p-values clustered by firm
	β̂t+2	β̂t+3	SE (t+2)	SE (t+3)	p (t+2)	p (t+3)
Non-Certified	55.05	−35.39	62.47	41.83	0.419	0.436
Certified	−204.79	−216.35	89.32	90.27	0.028	0.022
Cells report β̂ (point estimate), standard error (SE), and p-value.