{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,4,3]],"date-time":"2026-04-03T06:27:11Z","timestamp":1775197631728,"version":"3.50.1"},"reference-count":42,"publisher":"Emerald","issue":"5","license":[{"start":{"date-parts":[[2018,11,12]],"date-time":"2018-11-12T00:00:00Z","timestamp":1541980800000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":["ICS"],"published-print":{"date-parts":[[2018,11,12]]},"abstract":"<jats:sec><jats:title content-type=\"abstract-subheading\">Purpose<\/jats:title><jats:p>The study uses cyberattacks announcements on 96 firms that are listed on S&amp;P 500 over the period from January 03, 2013, to December 29, 2017.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Design\/methodology\/approach<\/jats:title><jats:p>The empirical analysis was performed in two ways: cross-section and industry level. The authors use statistical tests that account for the effects of cross-section correlation in returns, returns series correlation, volatility changes and skewness in the returns.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Findings<\/jats:title><jats:p>These imply that studying the cumulative effects of cyberattacks on prices of listed firms without grouping them into the various sectors may be non-informative; financial sector firms tend to react cumulatively to cyberattacks over a three-day period than other sectors; and technology firms tend to be less reactive to the announcement of a data breach. Such firms may possibly have the necessary tools and techniques to address large-scale cyberattacks.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Research limitations\/implications<\/jats:title><jats:p>For cross-section analysis, the outcome shows that the market does not significantly react to cyberattacks for all the event windows, except [\u221230, 30], while for the sector-level analysis, the analysis offers two main results.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Practical implications<\/jats:title><jats:p>First, while there is a firm reaction to cyberattacks for long event window for retail sector, there is no evidence of a cumulative firm reaction to cyberattacks for both short and long event windows for the industrial, information technology and health sectors. Second, the firms in the financial sector, there is a strong evidence of cumulative reaction to cyberattacks for [\u22121, 1] for the financial industry, and the reactions disappear for relatively longer event windows.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Social implications<\/jats:title><jats:p>These imply that studying the cumulative effects of cyberattacks on prices of listed firms without grouping them into the various sectors may be non-informative, the financial sector firms tend to react cumulatively to cyberattacks over a three-day period than other sectors, technology firms tend to be less reactive to the announcement of a data breach, possibly such firms may have the necessary tools and techniques to address large-scale cyberattacks.<\/jats:p><\/jats:sec><jats:sec><jats:title content-type=\"abstract-subheading\">Originality\/value<\/jats:title><jats:p>The work provides new insights into the effect of cyber security on stock prices.<\/jats:p><\/jats:sec>","DOI":"10.1108\/ics-05-2018-0060","type":"journal-article","created":{"date-parts":[[2018,10,1]],"date-time":"2018-10-01T07:05:49Z","timestamp":1538377549000},"page":"637-652","source":"Crossref","is-referenced-by-count":32,"title":["Impact of cyberattacks on stock performance: a comparative study"],"prefix":"10.1108","volume":"26","author":[{"given":"Samuel","family":"Tweneboah-Kodua","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Francis","family":"Atsu","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"William","family":"Buchanan","sequence":"additional","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"140","reference":[{"key":"key2020092606135657500_ref001","article-title":"Is there a cost to privacy breaches? 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