Corporate Bankruptcy Trustees in China

Last registered on September 21, 2026
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Pre-Trial

Trial Information

General Information

Title
Corporate Bankruptcy Trustees in China
RCT ID
AEARCTR-0019553
Initial registration date
September 03, 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
September 21, 2026, 6:44 AM 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
Samuel Antill
Affiliation
Harvard Business School
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Bo Li
PI Affiliation

Additional Trial Information

Status
In development
Start date
2026-09-09
End date
2026-12-31
Keywords
Finance & Microfinance
Additional Keywords
Chinese Bankruptcy Trustee Survey
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
We will survey bankruptcy trustees in China to understand their views about corporate bankruptcy. We will ask how they would handle hypothetical bankruptcies and vary details to understand how case characteristics shape trustee decisions.
External Link(s)

Registration Citation

Citation
Antill, Samuel and Bo Li. 2026. "Corporate Bankruptcy Trustees in China." AEA RCT Registry. September 21. https://doi.org/10.1257/rct.19553-1.0
Sponsors & Partners

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Experimental Details

Interventions

Intervention(s)
Each trustee views the same hypothetical bankruptcies, with case characteristics varying across questions. We randomize the order of the questions across trustees.
Intervention Start Date
2026-09-09
Intervention End Date
2026-12-31

Primary Outcomes

Primary Outcomes (end points)
Probability of reorganizing the hypothetical case, expected recovery in the hypothetical case, expected sale value of the hypothetical asset, expected reserve price of the hypothetical asset
Primary Outcomes (explanation)
Trustees answer questions about how they would handle each hypothetical bankruptcy or asset sale in the survey, their responses are used to measure these outcomes.

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
This is primarily a within-participant design, in which different questions vary case characteristics and we compare a trustee's responses across questions. We randomize the order of questions across trustees and check whether this matters for robustness. This is the only sense in which our randomization is used - most of our results depend on deterministic variation across questions within trustee, and on analysis of open response questions.
Experimental Design Details
Not available
Randomization Method
Randomization by computer in Tencent.
Randomization Unit
We randomize the order of the questions across trustees. Case characteristics vary across questions for each trustee.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
We will send to the entire mailing list for the Shenzhen Association of Bankruptcy Administrators, we expect up to 500 responses, but the final number of respondents will likely be much lower.
Sample size: planned number of observations
We will send to the entire mailing list for the Shenzhen Association of Bankruptcy Administrators, we expect up to 500 responses, but the final number of respondents will likely be much lower.
Sample size (or number of clusters) by treatment arms
We will send to the entire mailing list for the Shenzhen Association of Bankruptcy Administrators, we expect up to 500 responses, but the final number of respondents will likely be much lower.
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
Harvard
IRB Approval Date
2026-09-09
IRB Approval Number
IRB26-1022
Analysis Plan