MEASURING THE IMPACT OF IMPACT MEASUREMENT

Last registered on April 24, 2026
View Trial History

Pre-Trial

Trial Information

General Information

Title
MEASURING THE IMPACT OF IMPACT MEASUREMENT
RCT ID
AEARCTR-0018392
Initial registration date
April 16, 2026

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
April 24, 2026, 8:34 AM EDT

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

Locations

Country
India
Region

Primary Investigator

Name
Emanuele Colonnelli
Affiliation
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Natalia Rigol
PI Affiliation
PI Name
Ben Roth
PI Affiliation

Additional Trial Information

Status
Completed
Start date
2022-11-01
End date
2024-12-31
Keywords
Finance & Microfinance, Firms & Productivity
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
Impact measurement is central to impact investing and social entrepreneurship.
What is the consequence of impact measurement on firm performance and the allocation of
capital? We conduct the first randomized controlled trial to estimate the effects of an impact
measurement course for high-growth social enterprises in India. In a companion experiment, we study how
professional investors react to quantifiable impact measures.
External Link(s)

Registration Citation

Citation
Colonnelli, Emanuele, Natalia Rigol and Ben Roth. 2026. "MEASURING THE IMPACT OF IMPACT MEASUREMENT." AEA RCT Registry. April 24. https://doi.org/10.1257/rct.18392-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Both treated and control firms do a course on the basics of impact measurement. Treated firms participate in a more intensive version of the impact measurement program, where they also conduct a survey of their customers and employees.
Intervention (Hidden)
Intervention Start Date
2022-11-01
Intervention End Date
2024-12-31

Primary Outcomes

Primary Outcomes (end points)
Revenue and capital raised.
Primary Outcomes (explanation)
Revenue and capital raised are the main outcomes typically used to measure growth and access to finance for firms like the ones we study.

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Both treated and control firms do a course on the basics of impact measurement. Treated firms participate in a more intensive version of the impact measurement program, where they also conduct a survey of their customers and employees.
Experimental Design Details
Randomization Method
Randomization done in office by a computer
Randomization Unit
Firm
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
163 firms
Sample size: planned number of observations
163 firms
Sample size (or number of clusters) by treatment arms
163 firms total, split into half treated and half 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
University of Chicago Social & Behavioral Sciences IRB
IRB Approval Date
2022-10-05
IRB Approval Number
IRB22-1502
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials