Cybersecurity Risk Exposure and Corporate Reputation in Digital-Driven Firms

Ama Kalu Ikwuo, N. Okiri Cyprain and Enya Francis Ejeje
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Ama Kalu Ikwuo: Department of Accounting, University of Calabar, Cross Rivers State, Nigeria.
N. Okiri Cyprain: Department of Accounting, University of Calabar, Cross Rivers State, Nigeria.
Enya Francis Ejeje: Department of Accounting, University of Calabar, Cross Rivers State, Nigeria.

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Abstract: The increasing reliance on digital technologies has heightened organizations' exposure to cybersecurity risks, with significant implications for corporate reputation. This study examines the relationship between external security threats, internal security vulnerabilities, and the corporate reputation of digital-driven firms. Adopting a descriptive research design, data were collected through a structured questionnaire administered to 397 employees and management staff across selected digital-driven organizations in Nigeria. The data were analyzed using descriptive statistics and multiple linear regression analysis. The findings reveal that external security threats (β = 0.689, p < 0.05) and internal security vulnerabilities (β = 0.667, p < 0.05) have a significant relationship with corporate reputation. The results further indicate that higher exposure to cybersecurity risks is associated with greater reputational damage, as stakeholders perceive affected organizations as less reliable and secure. This underscores the sensitivity of corporate reputation to both externally driven cyberattacks and internally induced security weaknesses. The study concludes that effective management of cybersecurity risks is critical for sustaining stakeholder trust and organizational credibility in digital-driven environments. It recommends that firms strengthen cybersecurity infrastructure, enhance internal controls, and implement continuous employee training to mitigate both external threats and internal vulnerabilities.

Date: 2026-04-27
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Published in Journal of Global Economics, Management and Business Research, 2026, 18 (2), pp.137-147

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