Fundraising for female products in equity crowdfunding

Last registered on June 23, 2023
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Pre-Trial

Trial Information

General Information

Title
Fundraising for female products in equity crowdfunding
RCT ID
AEARCTR-0011595
Initial registration date
June 18, 2023

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
June 23, 2023, 4:51 PM EDT

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

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Primary Investigator

Name
Sofia Bapna
Affiliation
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Other Primary Investigator(s)

PI Name
Gordon Burtch
PI Affiliation
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Additional Trial Information

Status
In development
Start date
2023-06-19
End date
2025-01-31
Keywords
Gender
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We study the performance of a campaign for a female product that is raising capital through equity crowdfunding. We use interventions (described in the 'interventions' section) to see if the interventions change the crowdfunding performance. We examine heterogeneity by investor gender and experience.
External Link(s)

Registration Citation

Citation
Bapna, Sofia and Gordon Burtch. 2023. "Fundraising for female products in equity crowdfunding." AEA RCT Registry. June 23. https://doi.org/10.1257/rct.11595-1.0
Sponsors & Partners

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Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2023-06-19
Intervention End Date
2023-10-18

Primary Outcomes

Primary Outcomes (end points)
Interest in investing (clicks on link in the email), investments
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
1) The subjects (individual's from the crowdfunding platform's mailing list) are randomly assigned to one of 3 groups. The subjects are potential investors.
2) Each group is sent a different message about the campaign that is raising capital (see the 'Interventions' section for the text included in the emails). The emails are sent by the platform.
3) Clicks on the link (to the campaign page on the platform) in the emails are collected by the platform through their email marketing software. This is the main dependent variable. Investment data is collected by the platform (investments are made via the platform after clicking on the campaign page). These data are provided to the researchers who analyze it.
Experimental Design Details
Not available
Randomization Method
by a computer
Randomization Unit
individual (investor)
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
0
Sample size: planned number of observations
43246 individuals (potential investors)
Sample size (or number of clusters) by treatment arms
14414 each in treatment 1 and 2;
14418 in control
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
IRB Approval Date
IRB Approval Number
Analysis Plan