Robustness: Full vs. Trimmed DiD
Estimates, standard errors, and p-values
Horizon	DiD (Original)	SE (Original)	p (Original)	DiD (Trimmed)	SE (Trimmed)	p (Trimmed)
Post t+2	−168.53	76.39	0.027	−184.78	102.18	0.071
Post t+3	−191.10	76.33	0.012	−206.19	101.19	0.042
Standard errors clustered by firm_id.