Forecasting the Impact of Information Security Breaches on Stock Market Returns and VaR Backtest

Colivicchi, Ilaria; Vignaroli, Riccardo

doi:10.4236/jmf.2019.93024

Cited by 4 publications

(1 citation statement)

References 54 publications

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“…The research conducted showed that the market provided a negative return on investment in the period after data breach as a result of cyber attacks (Kammoun, 2019). Another direction of research includes the impact of cyber risk on return on shares of enterprises that suffer from some information gaps (Colivicchi, Vignaroli, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

The Role of Insurance in Cyber Risk Management in Enterprises

Balawejder

Dankiewicz

Ostrowska-Dankiewicz

et al. 2019

HSS

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Modern enterprises run their activities in an innovative environment. The use of modern technologies is, therefore, becoming a prerequisite for maintaining the current market position and ensuring competitiveness with other entities. However, the use of innovative IT solutions creates the risk that certain disturbances in the functioning of computer programs or the occurrence of cyber attacks will bring losses to the company, thus negatively affecting financial results. Materialisation of cyber risk may also have a negative impact on the company's image and, consequently, a potential decrease in sales of goods. Therefore, a proper assessment and management of cyber risk in modern enterprises is important. One of the methods to manage this risk is cyber insurance. A large number of cyber attacks and the development of new technologies has resulted in enterprises using cyber insurance, as evidenced by the significant increase in gross written premium in recent years. The research conducted by various institutions forecasts a dynamic growth of cybernetic insurance premiums in the coming years, suggesting that cyber insurance will grow in popularity. The purpose of the article is to present the necessary conditions and risks for the functioning of innovative enterprises in the current economic environment. In addition, the article analyses the occurrence of individual risks in business operations and their financial effects. The research also presents a scale in the use of cyber security in managing cybernetic risk of enterprises and provides future development directions of cyber security products. The research utilised methods of analysis and synthesis of secondary data in formulating conditions.

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Section: Literature Reviewmentioning

confidence: 99%