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Economic Aspects

In: Cybersecurity Investments

Author

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  • Stefan Beissel

Abstract

The chapter about economic aspects starts with an introduction about economic foundations of profit-oriented companies. Next, common financial indicators are distinguished and explained. The main distinction is made regarding the time basis. Static indicators do not take the time basis of the calculation into account. In contrast, dynamic indicators consider the time basis in form of interests, which can be added or subtracted to a payment flow. Financial indicators are a useful input for the decision making process. However, the decision maker does not only need knowledge about how to calculate these indicators but also appropriate input values. Therefore, assets, risks, costs and benefits in cybersecurity are also explained in this chapter. The asset appraisement addresses the task of determining a suitable asset value. The risk management aims at identifying and assessing risks, and evaluating risk responses. For this purpose, various risk management frameworks are introduced. Information about costs are derived from the related safeguards and potential breaches. Determining the benefits in cybersecurity can be very challenging. By using the knowledge from the above-mentioned topics, a reasonable approach is introduced.

Suggested Citation

  • Stefan Beissel, 2016. "Economic Aspects," Progress in IS, in: Cybersecurity Investments, edition 1, chapter 0, pages 79-141, Springer.
    • Handle: RePEc:spr:prochp:978-3-319-30460-1_4
    DOI: 10.1007/978-3-319-30460-1_4
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