Tim is (as always) right. The first step in LR's internal work flow is demosaicing, the second is assigning a generic device profile based on camera model and the third is converting the color space to a linear variation of ProPhotoRGB. However, LR is color managed and that means that what you see on your monitor is not ProPhoto or sRGB or AdobeRGB, it is always in your monitor's space. That's why we calibrate our monitors, so that any color managed application will know how to translate the image from its space (whatever that might be) to the display space. This means that if the CM is doing its job properly there should be no difference visible between versions of the same image in different spaces.
Curtis - I just tried doing the same thing you did, convert to sRGB jpg, import the jpg and compare, and I see no color shift. I did no output sharpening , but looking at your post the jpg looks sharper than the RAW. If you did output sharpening that may be the culprit. I will do another test with sharpening.
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