Fig. 4.

Impact of e-Invoicing Around the Mandatory Date of Adoption. Note: This figure plots the point estimates (solid line) and the 95 percent confidence intervals (shaded area) of the ${\beta }_t$ coefficients in Eq. (2), estimated using the balanced sample of firms mandated to adopt e-invoicing before 2019. The responses represent the percent change in the dependent variable relative to the mandatory adoption quarter.