Table 3

Regression estimates of changes in expenditure allocation in post-MSA and post-pressure periods

	Brown & Williamson	Lorillard	Philip Morris	RJ Reynolds	Total
Dependent variable = transformed proportion of monthly magazine advertising expenditures (in percentage points) allocated to magazine k, including all magazines.
SE, standard error.
Post-MSA* 15%+ youth readership
Coefficient	−1.05	−0.71	−0.19	−0.40	−0.57
SE	0.20	0.24	0.12	0.15	0.11
Post-pressure* 15%+ youth readership
Coefficient	−0.38	−0.98	−1.24	0.07	−0.61
SE	0.18	0.21	0.11	0.13	0.10
R²	0.25	0.32	0.37	0.51	0.22
Observations	7473	7473	7473	7473	29892