Market Reactions to Information Security Breach Announcements: An Empirical Analysis

@article{Kannan2007MarketRT,
  title={Market Reactions to Information Security Breach Announcements: An Empirical Analysis},
  author={Karthik N. Kannan and Jackie Rees Ulmer and Sanjay Sridhar},
  journal={International Journal of Electronic Commerce},
  year={2007},
  volume={12},
  pages={69 - 91}
}
Losses due to information security breaches are notoriously difficult to measure. An event study of the effect of such breaches on financial performance found that they do not earn significantly negative abnormal returns. To verify whether this finding resulted from the aggregation of data across different characteristics (e.g., the nature of the breaches, the types of firms, the time periods of the study) the impact of each characteristic was analyzed. Again the results were not significantly… 
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