Table 3 Summary statistics

From: Local preferences and the allocation of attention in equity-based crowdfunding

Variable N Mean SD Min Max
Local 63,691 0.14 0.34 0 1
Age 63,691 3.36 3.95 − 0.09 17.19
# investments two days before 63,691 35.35 62.53 0 562
Update previous day 63,691 0.11 0.31 0 1
Update previous week 63,691 0.46 0.50 0 1
# updates 63,691 3.68 4.12 0 26
Manufacturing 63,691 0.30 0.46 0 1
Wholesale trade 63,691 0.01 0.10 0 1
Retail trade 63,691 0.15 0.36 0 1
Finance 63,691 0.02 0.12 0 1
Services 63,691 0.52 0.50 0 1
Early 63,691 0.21 0.41 0 1
# previous investments 63,691 442.64 394.76 0 2,273
# potential investors 63,691 8,901 4,597 39 16,414
Project month count 63,691 2.34 2.83 1 13
Campaign Berlin 63,691 0.48 0.50 0 1
Goal type 63,691 0.68 0.47 0 1
Goal amount 63,691 0.83 0.89 0.05 5.5
Co-financing 63,691 0.07 0.26 0 1
Equity stake offered 63,691 13.01 7.98 2.44 37.50
Friends & family 63,691 0.18 0.38 0 1
Local 52,530 0.14 0.34 0 1
Age 52,530 3.41 3.99 − 0.09 17.19
# investments two days before 52,530 35.46 62.33 0 562
Update previous day 52,530 0.11 0.31 0 1
Update previous week 52,530 0.46 0.50 0 1
# updates 52,530 3.53 4.05 0 26
Manufacturing 52,530 0.30 0.46 0 1
Wholesale trade 52,530 0.01 0.10 0 1
Retail trade 52,530 0.15 0.36 0 1
Finance 52,530 0.02 0.12 0 1
Services 52,530 0.52 0.50 0 1
Early 52,530 0.39 0.49 0 1
# previous investments 52,530 420.2 382.04 0 2,273
# potential investors 52,530 9,005 4,575 39 16,414
Project month count 52,530 2.28 2.84 1 13
Campaign Berlin 52,530 0.47 0.50 0 1
Goal type 52,530 0.68 0.47 0 1
Goal amount 52,530 0.82 0.88 0.05 5.5
Co-financing 52,530 0.07 0.26 0 1
Equity stake offered 52,530 12.89 7.89 2.44 37.50
  1. Notes: This table provides summary statistics for our data set. The upper part of the table includes friends-and-family investments while the lower part of the table excludes friends-and-family-investments. The negative minimum value for the variable Age belongs to the campaign “Freygeist”. The corresponding venture was founded during the campaign, according to the “Bundesanzeiger”