Table 3.

Benchmark regression results.

	(1)	(2)
Treatit × Postit	1.209***	1.117***
	(5.35)	(5.06)
		(2.60)
Constant	4.145***	−4.752
	(55.50)	(−0.44)
Observations	999	999
R-squared	0.750	0.776
Control variables	No	Yes
Company FE	Yes	Yes
Year FE	Yes	Yes

Robust t-statistics in parentheses,

^***p < 0.01.