I investigate whether one of the reasons for a significant increase in retail trading during Covid-19 lockdown was the substitution of sports betting with stock trading. I find that the number of retail accounts holding stocks in companies based in states where online sports betting has launched...

Examining the role of semi-professional analysts in facilitating price formation following corporate earnings announcements, we evidence how openly available earnings research posted by contributors to the Seeking Alpha (SA) internet platform improves price formation. In particular, stocks in...

We investigate whether unexpected US sports outcomes (underdog wins) affect retail investor behaviour. We conjecture that the mood boost and satisfaction that retail investors receive from witnessing an underdog win will affect their risk tolerance, and therefore cause them to buy more shares....

This study investigates retail investor response to corporate engagement in corporate socio-political activism (CSA). Using manually collected evidence of companies’ support for the Black Lives Matter (BLM) campaign, we find that speaking up in support of BLM attracts retail investor...