From: Crowdfunding innovative but risky new ventures: the importance of less ambiguous tone
Variable | Cleantech sample | Non-cleantech sample | Mean difference t-test | |||
---|---|---|---|---|---|---|
Mean | SD | Mean | SD | Diff | t-value | |
Success | 0.370 | 0.483 | 0.276 | 0.447 | 0.094 | 6.542*** |
Money pledged | 7.970 | 2.991 | 6.697 | 3.669 | 1.273 | 14.102*** |
Uncertain (%) | 0.637 | 0.395 | 0.699 | 0.522 | −0.062 | −5.152*** |
Weak modal (%) | 0.343 | 0.258 | 0.356 | 0.346 | −0.013 | −1.616*** |
Funding goal | 10.177 | 1.086 | 10.088 | 1.093 | 0.089 | 2.747*** |
Duration | 3.536 | 0.254 | 3.535 | 0.284 | 0.001 | 0.099 |
Rewards | 2.215 | 0.558 | 2.004 | 0.621 | 0.211 | 12.618*** |
Quick updates | 0.421 | 0.494 | 0.342 | 0.474 | 0.079 | 5.362*** |
Comment quantity | 1.717 | 1.709 | 1.378 | 1.724 | 0.339 | 6.645*** |
Backer sentiment | 0.523 | 0.451 | 0.371 | 0.459 | 0.152 | 11.278*** |
Featured | 0.154 | 0.361 | 0.100 | 0.300 | 0.054 | 5.023*** |
Social network | 0.460 | 0.906 | 0.348 | 0.813 | 0.112 | 4.141*** |
ARI | 9.652 | 2.749 | 9.739 | 3.788 | −0.087 | −1.041 |
Total words | 6.894 | 0.663 | 6.450 | 0.821 | 0.444 | 22.186*** |
Net positive | 0.883 | 0.961 | 0.706 | 1.303 | 0.177 | 6.067*** |
Risk index | 1.922 | 0.894 | 2.091 | 0.861 | −0.169 | −6.357*** |
Video | 4.589 | 1.504 | 4.002 | 1.982 | 0.588 | 12.883*** |
Image | 2.415 | 1.164 | 1.859 | 1.358 | 0.556 | 15.871*** |
Observations | 1172 | Â | 26,209 | Â | Â | Â |