Time-varying effects of cyberattacks on firm value

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      <subfield code="a">This paper adds to research on the effect of cyber events on the attacked firm's value in light of confticting results from previous studies. Using 536 cyberattack announcements that occurred during the 2007-2016 period, the main goal is to investigate for changes in investor reaction over time as cyberattacks have become more frequent. Empirical evidence shows that cumulative abnormal returns of attacked firms were volatile earlier in the period, became increasingly negative, but have moderated recentIy. This paper proposes and discusses potential explanations for this observed U-shaped pattern over the l O-year periodo The relation between stock market reaction and type of attack, type of data affected, type of perpetrator and various firm level characteristics is also examined.</subfield>
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      <subfield code="g">01/10/2020 Volumen 45 Número 4 - octubre 2020 , p. 580-615</subfield>
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