Research

Research

Research in retail trading, market microstructure, financial media and information, and behavioral finance. Working papers are available upon request.

Working Papers

Retail Trading
Information

The Effects of News on Retail Investor Trading

Spencer Wyld · Matthew Crook · Andre Lynch · Brian Walkup

Presentations: FMA (2026); EFA (2025); SWFA (2023); SFA (2022); University of Arkansas (2022)

AI
Credit Risk

Coding on Borrowed Time: AI Disruption and the Credit Risk of Software Incumbents

Spencer Wyld · Ahmed Elkassabgi · Peng Huang · Aditya Limaye · Wan Wei

Presentations: FMA (2026)

Geopolitical News
Market Microstructure

The Oil Signal in Geopolitical News: Cross-Market Information Incorporation

Spencer Wyld · Andrew Lynch

Information
Commercialization

Nights on Broadway: Market and Expert Information in Staged Commercialization

Spencer Wyld

Disclosure
Analyst Information

When Managers Call Cyber Incidents Material: Analyst Updating and Price Reactions

Spencer Wyld · Andrew Lynch

News
Market Microstructure

Getting the Full Story?: The Effects of the News Cycle on Trading Volume

Spencer Wyld

Presentations: SWFA (2024); University of Arkansas (2024); University of Central Arkansas (2024); University of Arkansas–Little Rock (2024); University of Arkansas–Fort Smith (2024)

Retail Trading
Behavioral Finance

Betting Longshots: The Effect of Increased Gambling Awareness and Accessibility on Retail Trading

Spencer Wyld

Presentations: FMA (2024); SWFA (2024); University of Arkansas (2024)

Publications & Forthcoming

Forthcoming

SEC Filings for Energy and Utilities: Does the Political Affiliation of the President Impact Disclosure Frequency?

Spencer Wyld · Ahmed Elkassabgi · K. Michael Casey

Oil, Gas & Energy Quarterly, forthcoming.

Research in Progress

Information
Retail Trading

Newsflash to Social Media Splash: News Dissemination and Retail Trading

Spencer Wyld · Justin Mohr

Presentations: SWFA (2025)