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Based on official SEC pilot rosters first released in 2004 and updated in April 2005. Values are 1 in years when the exemption applied (primarily 2005\u20132007) and 0 otherwise (pre-pilot years are coded 0). |\n| lobby | Binary indicator (0/1) for whether the company reported any federally registered lobbying activity during the calendar year, as recorded in LobbyView from Lobbying Disclosure Act (LDA) filings. This captures participation (any filing recorded) rather than amounts or targets. |\n| ticker | Stock ticker symbol used to identify the firm across years. Tickers reflect exchange-listed identifiers for Russell 3000 companies in the early-to-mid 2000s; symbols may change over time due to corporate actions. |\n| year | Calendar year of the observation (2002\u20132007). |\n\nDataset Context:\nThis panel links two administrative sources for U.S. publicly traded firms in the Russell 3000 around the mid-2000s. One source is the SEC\u2019s Regulation SHO pilot, adopted in 2004 to study market effects of relaxing short-sale price tests. The pilot began on May 2, 2005, and concluded on August 6, 2007. To populate the pilot roster, the SEC sorted securities by exchange, ranked them using prior-year average daily dollar volume, and selected every third stock for full exemption from short-sale price tests. The Commission released an initial list in 2004 and an updated list in April 2005 to reflect mergers, delistings, and other corporate changes during implementation.\n\nThe second source is LobbyView, which compiles federal lobbying registrations and periodic activity reports mandated by the Lobbying Disclosure Act. During 2002\u20132007, filings were made on a semiannual schedule and include the registrant, clients, and issues lobbied. For this dataset, those filings are harmonized to a firm-year indicator that flags whether a company is observed to have any registered federal lobbying activity in a given calendar year.\n\nEach row in the file represents a ticker\u2013year pairing from 2002 through 2007, spanning pre-pilot and pilot periods. Because the composition of exchange-listed firms evolves, the panel reflects contemporaneous Russell 3000 constituents and incorporates SEC updates to pilot participation where securities were added or removed due to corporate events. 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