1. Ktisis Cyprus University of Technology
  2. Cyprus University of Technology (Research Output)
  3. Εκθέσεις/Reports
Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/26245
DC FieldValueLanguage
dc.contributor.authorFlorackis, Chris-
dc.contributor.authorLouca, Christodoulos-
dc.contributor.authorMichaely, Roni-
dc.contributor.authorWeber, Michael-
dc.date.accessioned2022-03-22T08:28:43Z-
dc.date.available2022-03-22T08:28:43Z-
dc.date.issued2020-12-
dc.identifier.citationNational Bureau of Economic Research, working paper 28196en_US
dc.identifier.urihttps://hdl.handle.net/20.500.14279/26245-
dc.description.abstractUsing textual analysis and comparing cybersecurity-risk disclosures of firms that were hacked to others that were not, we propose a novel firm-level measure of cybersecurity risk for all US-listed firms. We then examine whether cybersecurity risk is priced in the cross-section of stock returns. Portfolios of firms with high exposure to cybersecurity risk outperform other firms, on average, by up to 8.3% per year. At the same time, high-exposure firms perform poorly in periods of high cybersecurity risk. Reassuringly, the measure is higher in information-technology industries, correlates with characteristics linked to firms hit by cyberattacks, and predicts future cyberattacks.en_US
dc.formatpdfen_US
dc.language.isoenen_US
dc.rights© NATIONAL BUREAU OF ECONOMIC RESEARCHen_US
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.titleCybersecurity Risken_US
dc.typeReporten_US
dc.collaborationCyprus University of Technologyen_US
dc.subject.categoryEconomics and Businessen_US
dc.countryCyprusen_US
dc.subject.fieldSocial Sciencesen_US
dc.identifier.doi10.3386/w28196en_US
cut.common.academicyear2019-2020en_US
item.grantfulltextnone-
item.openairecristypehttp://purl.org/coar/resource_type/c_93fc-
item.fulltextNo Fulltext-
item.languageiso639-1en-
item.cerifentitytypePublications-
item.openairetypereport-
crisitem.author.deptDepartment of Finance, Accounting and Management Science-
crisitem.author.facultyFaculty of Tourism Management, Hospitality and Entrepreneurship-
crisitem.author.orcid0000-0003-3436-3734-
crisitem.author.parentorgFaculty of Management and Economics-
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