Examination of cybercrime and its effects on corporate stock value

被引:22
作者
Smith, Katherine Taken [1 ]
Jones, Amie [2 ]
Johnson, Leigh [2 ]
Smith, Lawrence Murphy [3 ]
机构
[1] Texas A&M Univ Corpus Christi, Dept Management & Mkt, Corpus Christi, TX 78412 USA
[2] Murray State Univ, Arthur J Bauernfeind Coll Business, Murray, KY 42071 USA
[3] Texas A&M Univ Corpus Christi, Dept Accounting, Corpus Christi, TX USA
关键词
Business ethics; Computer ethics; Financial information; Cybercrime; Computer security; Stock value;
D O I
10.1108/JICES-02-2018-0010
中图分类号
B82 [伦理学(道德学)];
学科分类号
摘要
Purpose Cybercrime is a prevalent and serious threat to publicly traded companies. Defending company information systems from cybercrime is one of the most important aspects of technology management. Cybercrime often not only results in stolen assets and lost business but also damages a company's reputation, which in turn may affect the company's stock market value. This is a serious concern to company managers, financial analysts, investors and creditors. This paper aims to examine the impact of cybercrime on stock prices of a sample of publicly traded companies. Design/methodology/approach Financial data were gathered on companies that were reported in news stories as victims of cybercrime. The market price of the company's stock was recorded for several days before the news report and several days after. The percentage change in the stock price was compared to the change in the Dow Jones Industrial average to determine whether the stock price increased or decreased along with the rest of the market. Findings Stock prices were negatively affected in all time periods examined, significantly so in one period.
引用
收藏
页码:42 / 60
页数:19
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