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Security Breaches and Firm Value


Author Info

  • Bolster Paul

    (Northeastern University)

  • Pantalone Coleen H

    (Northeastern University)

  • Trahan Emery A

    (Northeastern University)

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    Security breaches may be a normal risk of doing business, or they may result in economic losses and changes in business valuation. A small number of studies outside the finance literature find mixed results regarding the economic impact of security breaches. In this paper, we examine a large sample to determine whether breaches result in significant economic losses and whether the announcement venue has an impact on business valuation. We find a negative and significant impact on firm value when the breach is announced in one of four major news outlets. When the announcement is elsewhere, the impact is minimal.

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    Bibliographic Info

    Article provided by De Gruyter in its journal Journal of Business Valuation and Economic Loss Analysis.

    Volume (Year): 5 (2010)
    Issue (Month): 1 (April)
    Pages: 1-13

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    Handle: RePEc:bpj:jbvela:v:5:y:2010:i:1:n:1

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