How do timing and narrative tone influence the impact of pro-environmental orientation on crowdfunding performance?

Ruichen Ge, Sha Zhang and Hong Zhao

Finance Research Letters, 2025, vol. 75, issue C

Abstract: Pro-environmentally oriented entrepreneurial projects on crowdfunding platforms have great potential for contributing to sustainable development. Previous research on the impact of pro-environmental orientation in crowdfunding has yielded mixed results, suggesting the existence of boundary conditions. This study examines how the timing and the narrative tone moderate this effect. Analyzing entrepreneurial projects on the Indiegogo platform from 2010 to 2024, we find that conveying pro-environmental orientation during periods of high public environmental awareness and using a negative tone enhances the effectiveness of pro-environmental orientation on crowdfunding performance.

Keywords: Sustainable crowdfunding; Sustainability; Entrepreneurial finance; Pro-environmental orientation; Timing; Tone (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:eee:finlet:v:75:y:2025:i:c:s1544612325001497

DOI: 10.1016/j.frl.2025.106884

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