Governance participation puzzle: A field experiment

Last registered on January 02, 2024
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Pre-Trial

Trial Information

General Information

Title
Governance participation puzzle: A field experiment
RCT ID
AEARCTR-0012762
Initial registration date
December 31, 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
January 02, 2024, 11:02 AM EST

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
Minghao Yan
Affiliation
Lingnan University
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Other Primary Investigator(s)

PI Name
Xiaofeng Zhao
PI Affiliation
Lingnan University, Hong Kong
Contact Investigator

Additional Trial Information

Status
In development
Start date
2024-01-01
End date
2024-06-30
Keywords
Finance & Microfinance, Firms & Productivity, Governance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
The participation in individual shareholder voting for corporate governance proposals among publicly listed firms in China is notably low. This project aims to conduct a field experiment by providing governance knowledge and information about voting events to individual investors, assessing whether the treated firms experience an increase in shareholder voting participation and governance changes in the post-experiment period.
External Link(s)

Registration Citation

Citation
Yan, Minghao and Xiaofeng Zhao. 2024. "Governance participation puzzle: A field experiment." AEA RCT Registry. January 02. https://doi.org/10.1257/rct.12762-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)


Intervention Start Date
2024-01-01
Intervention End Date
2024-06-30

Primary Outcomes

Primary Outcomes (end points)
We look at whether participation rate of the annual shareholder meeting will be changed after the treatment.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Investors will be given different types of information. The grouping of the companies is randomly assigned by a computer. The experiment is planned to be conducted from January to June 2024.
Experimental Design Details
Not available
Randomization Method
Randomization is done by computer.
Randomization Unit
The randomization unit is the listed companies.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
0
Sample size: planned number of observations
Approximately 4,000
Sample size (or number of clusters) by treatment arms
approximately 600
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Office of Research and Knowledge Transfer (ORKT)
IRB Approval Date
2023-12-20
IRB Approval Number
N/A
Analysis Plan