1. Ktisis Cyprus University of Technology
  2. Cyprus University of Technology (Research Output)
  3. Άρθρα/Articles
Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14279/30934
DC FieldValueLanguage
dc.contributor.authorFlorackis, Chris-
dc.contributor.authorLouca, Christodoulos-
dc.contributor.authorMichaely, Roni-
dc.contributor.authorMichael Nicholas Weber-
dc.contributor.editorGoldstein, Itay-
dc.date.accessioned2023-12-14T11:42:12Z-
dc.date.available2023-12-14T11:42:12Z-
dc.date.issued2023-01-01-
dc.identifier.citationReview of Financial Studies, 2023, vol. 36, iss. 1, pp. 351 - 407en_US
dc.identifier.issn08939454-
dc.identifier.urihttps://hdl.handle.net/20.500.14279/30934-
dc.description.abstractBased on textual analysis and a comparison of 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 U.S.-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. Yet, 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.language.isoenen_US
dc.relation.ispartofThe Review of Financial Studiesen_US
dc.rights© The Author(s)en_US
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 International*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectCybersecurityen_US
dc.subjectRisken_US
dc.titleCybersecurity Risk: Reviseden_US
dc.typeArticleen_US
dc.collaborationUniversity of Liverpoolen_US
dc.collaborationCyprus University of Technologyen_US
dc.collaborationUniversity of Hong Kongen_US
dc.collaborationUniversity of Chicagoen_US
dc.subject.categoryEconomics and Businessen_US
dc.journalsSubscriptionen_US
dc.countryCyprusen_US
dc.countryUnited Kingdomen_US
dc.countryHong Kongen_US
dc.countryUnited Statesen_US
dc.subject.fieldSocial Sciencesen_US
dc.publicationPeer Revieweden_US
dc.identifier.doi10.1093/rfs/hhac024en_US
dc.identifier.scopus2-s2.0-85152957274-
dc.identifier.urlhttps://api.elsevier.com/content/abstract/scopus_id/85152957274-
dc.relation.issue1en_US
dc.relation.volume36en_US
cut.common.academicyear2022-2023en_US
dc.identifier.spage351en_US
dc.identifier.epage407en_US
item.grantfulltextnone-
item.languageiso639-1en-
item.cerifentitytypePublications-
item.openairecristypehttp://purl.org/coar/resource_type/c_6501-
item.openairetypearticle-
item.fulltextNo Fulltext-
crisitem.journal.journalissn1465-7368-
crisitem.journal.publisherOxford University Press-
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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