The impact of cyber enforcement actions on stock returns

Marika Carboni, Dell’Atti, Stefano, Igor Gianfrancesco and Grazia Onorato

Research in International Business and Finance, 2024, vol. 71, issue C

Abstract: This paper investigates the impact of cyber enforcement actions on stock returns for a sample of US financial listed entities, by taking into account traditional banks versus either fintech banks or fintech/non-fintech shadow banks. We provide evidence of a less favorable market reaction for the last group relative to the group of traditional banks, consistently with the view that traditional banks are less technology-oriented and therefore they should be less subject to cyber enforcement actions than fintech and shadow banks.

Keywords: Bank; Fintech; Shadow banks; Cyber enforcement actions (search for similar items in EconPapers)
JEL-codes: G21 G23 G28 (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:riibaf:v:71:y:2024:i:c:s0275531924002538

DOI: 10.1016/j.ribaf.2024.102460

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