| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24409 |
| 来源ID | Working Paper 24409 |
| What is the Impact of Successful Cyberattacks on Target Firms? | |
| Shinichi Kamiya; Jun-Koo Kang; Jungmin Kim; Andreas Milidonis; René M. Stulz | |
| 发表日期 | 2018-03-19 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We examine which firms are targets of cyberattacks and how they are affected. We find that cyberattacks cause firms to reassess the risks that they are exposed to and their consequences, so that they have real effects on firm policies even when targets are not financially constrained. Cyberattacks are more likely to occur at more visible firms, firms with more intangible assets, and firms with less board attention to risk management. Attacks where personal financial information is appropriated are associated with a negative stock-market reaction, a decrease in sales growth for large firms and retail firms, an increase in leverage, a deterioration in financial health, and a decrease in investment in the short run. Firms further respond to cyberattacks by reducing CEO bonuses and risk-taking incentives and by strengthening their risk management. |
| 主题 | Financial Economics ; Financial Markets ; Corporate Finance |
| URL | https://www.nber.org/papers/w24409 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582083 |
| 推荐引用方式 GB/T 7714 | Shinichi Kamiya,Jun-Koo Kang,Jungmin Kim,et al. What is the Impact of Successful Cyberattacks on Target Firms?. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24409.pdf（679KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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