网络攻击及其对股东财富的影响分析

Karen M. Hogan, G. Olson, J. Mills, Peter A. Zaleski
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引用次数: 0

摘要

网络数据泄露是所有企业面临的不断演变的风险,威胁着企业开展业务活动的能力。由于缺乏可用信息,人们对数据泄露的频率和严重程度以及金融市场对此的反应知之甚少。本研究使用了一个独特的专有数据集,其中包括1990年至2019年期间3992家上市公司的网络数据泄露信息。我们发现,网络入侵随着时间的推移而变化,网络犯罪分子关注的是特定的行业、信息类型、访问来源和国家。我们发现,在网络事件发布前后出现显著的短期负异常收益,在攻击频率较高的行业和涉及个人金融信息的攻击中,负收益较大。此外,我们发现在公告发布后的250天内,负累计异常收益不断增加。
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An Analysis of Cyber Breaches and Effects on Shareholder Wealth
Abstract Cyber data breaches are an evolving risk facing all firms and threatens their ability to conduct business activity. Due to a lack of available information, very little is known about the frequency and severity of data breaches and the financial markets’ responses to them. This study uses a unique proprietary data set that includes cyber data breach information for 3,992 publicly traded firms during the 1990 to 2019 period. We find cyber breaches vary with time and cyber criminals focus on particular industries, types of information, access sources, and countries. We find significant short run negative abnormal returns around the announcement of cyber events and larger negative returns in industries with higher frequencies of attacks and attacks involving personal financial information. Additionally, we find increasing negative cumulative abnormal returns up to 250 days after the announcement.
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来源期刊
CiteScore
2.60
自引率
8.30%
发文量
9
期刊介绍: International Journal of the Economics of Business presents original, peer reviewed research in economics that is clearly applicable to business or related public policy problems or issues. The term "business" is used in its widest sense to encompass both public and private sector—governmental, private non-profit and cooperative organizations, as well as profit-seeking enterprises. International Journal of the Economics of Business carries papers relating to three main spheres: The organization—to analyse and aid decision making and the internal organization of the business; The industry—to analyse how businesses interact and evolve within and across industries.
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