Empirical evidence on disclosing cyber breaches in an 8-K report: Initial exploratory evidence

IF 3.3 3区管理学 Q1 BUSINESS, FINANCE Journal of Accounting and Public Policy Pub Date : 2024-06-14 DOI:10.1016/j.jaccpubpol.2024.107226

Lawrence A. Gordon , Martin P. Loeb , Lei Zhou , Amanda L. Wilford

引用次数: 0

Abstract

The primary objective of this exploratory study is to assess whether 8-K disclosure, compared to alternative disclosure, explains the inconsistent results in prior studies examining the impact of cyber breaches on stock prices. The major finding of this study is that the negative magnitude of the stock price reaction and the duration of the reaction are substantially different for firms disclosing their cyber breaches via an 8-K compared to firms disclosing their breaches via other sources. Our results provide support for the new cybersecurity disclosure rules issued by the Securities and Exchange Commission (2023).

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在 8-K 报告中披露网络漏洞的经验证据：初步探索性证据

本探索性研究的主要目的是评估与其他披露方式相比，8-K 披露是否可以解释之前研究网络漏洞对股价影响的不一致结果。本研究的主要发现是，与通过其他渠道披露网络漏洞的公司相比，通过 8-K 披露网络漏洞的公司股价反应的负面程度和反应持续时间大不相同。我们的研究结果为证券交易委员会发布的新网络安全披露规则（2023 年）提供了支持。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Accounting and Public Policy Multiple-

CiteScore

4.80

自引率

2.80%

发文量

期刊介绍： The Journal of Accounting and Public Policy publishes research papers focusing on the intersection between accounting and public policy. Preference is given to papers illuminating through theoretical or empirical analysis, the effects of accounting on public policy and vice-versa. Subjects treated in this journal include the interface of accounting with economics, political science, sociology, or law. The Journal includes a section entitled Accounting Letters. This section publishes short research articles that should not exceed approximately 3,000 words. The objective of this section is to facilitate the rapid dissemination of important accounting research. Accordingly, articles submitted to this section will be reviewed within fours weeks of receipt, revisions will be limited to one, and publication will occur within four months of acceptance.