From: Crowdfunding innovative but risky new ventures: the importance of less ambiguous tone
Variable | Successful cleantech sample | Unsuccessful cleantech sample | Mean difference t-test | |||
---|---|---|---|---|---|---|
Mean | SD | Mean | SD | Diff | t-value | |
Success | 1.000 | 0.000 | 0.000 | 0.000 | – | – |
Money pledged | 10.618 | 1.188 | 6.413 | 2.613 | 4.205 | 37.601*** |
Uncertain (%) | 0.594 | 0.336 | 0.663 | 0.424 | −0.069 | −3.067*** |
Weak modal (%) | 0.317 | 0.217 | 0.359 | 0.278 | −0.043 | −2.913*** |
Funding goal | 9.855 | 0.857 | 10.367 | 1.159 | −0.512 | −8.635*** |
Duration | 3.529 | 0.233 | 3.539 | 0.266 | −0.011 | −0.723 |
Rewards | 2.469 | 0.420 | 2.066 | 0.576 | 0.403 | 13.786*** |
Quick updates | 0.654 | 0.476 | 0.283 | 0.451 | 0.371 | 13.142*** |
Comment quantity | 3.196 | 1.593 | 0.847 | 1.051 | 2.349 | 27.407*** |
Backer sentiment | 0.724 | 0.335 | 0.406 | 0.469 | 0.318 | 13.501*** |
Featured | 0.339 | 0.474 | 0.045 | 0.207 | 0.294 | 12.258*** |
Social network | 0.767 | 1.112 | 0.279 | 0.699 | 0.488 | 8.237*** |
ARI | 9.669 | 2.258 | 9.641 | 3.002 | 0.028 | 0.183 |
Total words | 7.063 | 0.525 | 6.795 | 0.714 | 0.268 | 7.376*** |
Net positive | 1.120 | 0.801 | 0.744 | 1.019 | 0.376 | 7.004*** |
Risk index | 1.888 | 0.811 | 1.979 | 0.824 | −0.092 | −1.762** |
Video | 4.911 | 0.909 | 4.400 | 1.736 | 0.512 | 6.612*** |
Image | 2.865 | 0.914 | 2.150 | 1.214 | 0.714 | 11.409*** |
Observations | 434 | Â | 738 | Â | Â | Â |