Hometown Ties and the Quality of Government Monitoring: Evidence from Rotation of Chinese Auditors

Jian Chu; Raymond Fisman; Songtao Tan; Yongxiang Wang (2021) · American Economic Journal: Applied Economics

Published

October 10, 2026

import sys
from pathlib import Path

ROOT = next(
    p for p in [Path.cwd(), *Path.cwd().parents]
    if (p / "scripts/tranche50_report.py").exists()
)
sys.path.insert(0, str(ROOT / "scripts"))
from tranche50_report import report
report("aeraej-514")

Jian Chu; Raymond Fisman; Songtao Tan; Yongxiang Wang (2021). American Economic Journal: Applied Economics. Table 3 col.

Source specification

Source coefficient Template on source sample Source N Template source-sample N
-0.47147 -0.47147 2939 2940

Source-to-template coefficient difference: 1.03e-14, in original outcome units.

Role Column
Outcome violate3
Treatment local_city
Unit icity
Time year
Cluster icity

17 retained control columns. male; age; tenure; tenure2; edulevel; edufin; fromaud; fromfin; fromsup; fromcitygov; lngdppc; sec; lnpop; lngovrev; govbalance; finv; edu

Estimates below divide the outcome by its source-sample standard deviation, 1.88877. Static TWFE is the treatment coefficient. Dynamic TWFE, BJS and Sun–Abraham average supported post-treatment cells by observation count. CS-DID additionally reports an equal-event-time average.

Analysis sample and treatment timing

Observations Units Treated Control units Cohorts Clusters
2758 261 19 242 8 261
Sample restriction Count
initially treated units removed 15
post adoption untreated rows removed 104
additional rows removed 1

Adoption is the first observed treated period. Initially treated units and units without an observed minus-one baseline are excluded. Post-adoption untreated rows are excluded for switching policies. The plot shows at most 100 seeded-sample units; estimation uses the full eligible sample. Empty cells remain missing.

y__d: 100 of 261 units shown (seed 20261008). All eligible units enter estimation. Purple: untreated; yellow: treated; white: unobserved.

Estimates

Estimator Estimate (SD) SE 95% lower 95% upper Target Status
Static TWFE -0.36184 0.12852 -0.6149 -0.10877 Coefficient estimated
Dynamic TWFE -0.40931 0.14543 -0.69568 -0.12294 Treated cells estimated
BJS / did2s -0.39794 0.10453 -0.60377 -0.19212 Treated cells estimated
Sun–Abraham -0.40005 0.10191 -0.60073 -0.19936 Treated cells estimated
CS-DID (equal event-time) nan nan nan nan Equal post-event times unidentified
SDID nan nan nan nan Treated cells unsupported
Matrix completion nan nan nan nan Treated cells unsupported
Horizontal ridge nan nan nan nan Treated cells unsupported
Multisynth (cohort-averaged) nan nan nan nan Treated cells unsupported
Multisynth (individual) nan nan nan nan Treated cells unsupported

Intervals use the configured clusters and the estimator’s available inference. Hollow points have no computed interval; no new refit-bootstrap batch is run.

Estimator Reason
CS-DID (equal event-time) UnidentifiedTarget: CS-DID cannot estimate 37 observed post-treatment group-time cells with the configured controls; no target cells were dropped. See csdid-group-time.json and package log.
SDID sdid: this adapter does not implement covariate adjustment; controls retained.
Matrix completion matrix-completion: this adapter does not implement covariate adjustment; controls retained.
Horizontal ridge horizontal-ridge: this adapter does not implement covariate adjustment; controls retained.
Multisynth (cohort-averaged) multisynth-cohort: this adapter does not implement covariate adjustment; controls retained.
Multisynth (individual) multisynth-individual: this adapter does not implement covariate adjustment; controls retained.

Event studies

Cohort homogeneity

The imported TestingInEventStudies deviations design tests positive-event-time cohort deviations jointly. This is the homoskedastic nested-model F-test; the estimator confidence intervals above use clustered inference.

**y__d: F(21, 2397) = 2.8287; p = 1.864e-05.** Homoskedastic nested-model F. 90 design columns.

Each line is a cohort deviation. The joint test restricts positive-event-time deviations to zero; event time 0 remains unrestricted.

Fitting settings and checks

Specification Estimator Settings Pooling
y__d CS-DID {} {}
y__d SDID {} {}
y__d Matrix completion {} {}
y__d Horizontal ridge {} {}
y__d Multisynth (cohort-averaged) {} {}
y__d Multisynth (individual) {} {}
{
  "did2s_vs_direct_imputation_max_post_difference": 3.9986092570387655e-07,
  "package_aggregate_vs_estimable_cell_weights": null,
  "saturated_vs_deviations_relative_rss_difference": 4.918322614166476e-16
}