Information security breaches and financial market reaction: the French case
MPRA Paper from University Library of Munich, Germany
This study examines the impact of information security breaches on the stock returns on French companies. Using the event study methodology, we provide insights on the effect of cyberattack announcements on the market value of French companies from 2009 to 2019. We show that following cyberattack announcements, stock returns significantly decrease. We find that financial companies are more negatively impacted than other industries. Our results lead conclude that cybersecurity is now fully integrated into risk management and the overall strategy of companies. Cyber resilience appears to be the essential element to face current threats and reassure investors.
Keywords: Cybersecurity; Market reaction; Stock returns; Event Study (search for similar items in EconPapers)
JEL-codes: A10 G1 G10 G15 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:105029
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