General Data Protection Regulation (GDPR) Implementation: What was the Impact on the Market Value of European Financial Institutions?

Arcuri, Maria Cristina

doi:10.17015/ejbe.2020.025.01

Cited by 3 publications

(4 citation statements)

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“…Similarly, Richards (2008) underlines the importance of privacy or rather 'intellectual privacy' in providing the freedom to explore novel ideas and overall, plays a crucial role for free speech. Specifically regarding the GDPR's impact, there are those who point to its positive impact (Arcuri 2020, Cisco 2019, Von Grafenstein 2019. Arcuri (2020) takes a sectoral approach and outlines the positive reaction of the EU financial market to the GDPR.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Specifically regarding the GDPR's impact, there are those who point to its positive impact (Arcuri 2020, Cisco 2019, Von Grafenstein 2019. Arcuri (2020) takes a sectoral approach and outlines the positive reaction of the EU financial market to the GDPR. Cisco (2019) shows that those companies that are 'GDPR-ready' see large positive returns such as fewer data breaches, which − if they do occur − are less significant as well as entailing lower system downtime.…”

Section: Literature Reviewmentioning

confidence: 99%

“…As the regulatory and policy-making environment attempts to adapt to novel features and concerns presented by the digital economy, the GDPR is a trailblazer as a digital regulation. There has been significant debate as well as speculation regarding the effect of the GDPR on innovation (negative effect see Goldberg et al 2019, Jia et al 2021, see Wallace and Castro 2018 and positive effect see Arcuri 2020, Cisco 2019, Von Grafenstein 2019. Much of this debate rests on blanket arguments (see Wallace and Castro 2018), however, without sufficiently analysing the real effects in detail, particularly with regards to innovation.…”

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The Impact of the EU General Data Protection Regulation on Innovation in Firms

Blind

Niebel²,

Rammer

2022

SSRN Journal

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

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The Impact of the EU General Data Protection Regulation on Innovation in Firms

Blind

Niebel²,

Rammer

2022

SSRN Journal

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“…Drivers of this shift include the extension of digital reporting regulatory requirements, 44 especially the post-crisis financial regulatory reform and data protection regulation. 45 In relation to this last aspect, the interaction between RegTech and data regulation, two phenomena which are markedly connected and which share, also at a temporal level, a long-term horizon in terms of digitalisation and datafication, is of particular importance. Indeed, it is expected that the use of technology for compliance, monitoring, enforcement and system design in financial regulation, as well as for data computation, will necessarily continue to increase.…”

Section: The Advent Of the Regtech Agementioning

confidence: 99%

The changing nature of ‘Regulation by Information’: Towards real‐time regulation?

Hofmann,

Zetzsche,

Pflücke

2022

European Law Journal

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The concept of ‘Regulation by Information’ is changing. Past such approaches consisted mainly of signalling regulatory intent and indirectly guiding how and when regulatory discretion should be exercised. We suggest that this conceptual understanding must be reviewed in view of developing regulatory technologies (RegTech) allowing for a far more proactive integration of data flows into regulatory processes. RegTech is thereby changing conditions of Regulation by Information.This article uses financial regulation as an information‐intensive and highly regulated policy field to illustrate and analyse RegTech‐induced changes to conditions of Regulation by Information. It finds that the rise of near real‐time information flows between market participants and regulatory bodies and, consequently, the need for near real‐time regulatory responses on the European Union level have led to an ever higher degree of integration of regulatory software into market data flows.Regulatory software now increasingly shapes the definitions of reporting standards and formats, which in turn shape regulatory choices by influencing information flows. The article shows how this development will likely be used in other data‐ and information‐dense policy areas outside of financial markets.Critics of Regulation by Information argue that it can lead to a lack of accountability and transparency, increasing the democratic deficit within the European Union. This article scrutinises both continuities and changes in the role and significance of legal principles and procedures used in regulatory oversight, following the evolution of this new form of Regulation by Information within the EU.

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