Replication Package for "Competition and Debt Conservatism"

This is the replication package for the JFQA paper, titled "Competition and Debt Conservatism" by Seth Armitage and Woon Sau Leung (published online on 05 November 2025). This dataset contains three files: (1) a readme document, (2) a Stata .do file containing all codes used for cleaning each dataset, constructing and merging the data samples, and performing all analysis, and (3) a small pseudo (i.e., randomized and with firm ID masked) final sample.