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Observing inconsistent results in prior studies, this paper applies the elaboration likelihood model to investigate the impact of affective and cognitive cues embedded in social media messages on audience engagement during a political event. Leveraging a rich dataset in the context of the 2020 U.S. presidential elections containing more than 3 million tweets, we found the prominence of both cue types. For the overall sample, positivity and sentiment are negatively related to engagement. In contrast, the post-hoc sub-sample analysis of tweets from famous users shows that emotionally charged content is more engaging. The role of sentiment decreases when the number of followers grows and ultimately becomes insignificant for Twitter participants with a vast number of followers. Prosocial orientation (“we-talk”) is consistently associated with more likes, comments, and retweets in the overall sample and sub-samples.
PyFin-sentiment
(2023)
Responding to the poor performance of generic automated sentiment analysis solutions on domain-specific texts, we collect a dataset of 10,000 tweets discussing the topics of finance and investing. We manually assign each tweet its market sentiment, i.e., the investor’s anticipation of a stock’s future return. Using this data, we show that all existing sentiment models trained on adjacent domains struggle with accurate market sentiment analysis due to the task’s specialized vocabulary. Consequently, we design, train, and deploy our own sentiment model. It outperforms all previous models (VADER, NTUSD-Fin, FinBERT, TwitterRoBERTa) when evaluated on Twitter posts. On posts from a different platform, our model performs on par with BERT-based large language models. We achieve this result at a fraction of the training and inference costs due to the model’s simple design. We publish the artifact as a python library to facilitate its use by future researchers and practitioners.