The Economic Cost of Publicly Announced Information Security Breaches: Empirical Evidence from the Stock Market

@article{Campbell2003TheEC,
  title={The Economic Cost of Publicly Announced Information Security Breaches: Empirical Evidence from the Stock Market},
  author={Katherine Campbell and Lawrence A. Gordon and Martin P. Loeb and Lei Zhou},
  journal={Journal of Computer Security},
  year={2003},
  volume={11},
  pages={431-448}
}
This study examines the economic effect of information security breaches reported in newspapers on publicly traded US corporations. We find limited evidence of an overall negative stock market reaction to public announcements of information security breaches. However, further investigation reveals that the nature of the breach affects this result. We find a highly significant negative market reaction for information security breaches involving unauthorized access to confidential data, but no… CONTINUE READING
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