The effect of data breach announcements beyond the stock price: Empirical evidence on market activity

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• 作者：Pierangelo Rosati<sup>asup> ; Mark Cummins<sup>bsup><sup> ; sup><sup>mark.cummins@dcu.iesup> ; Peter Deeney<sup>bsup> ; Fabian Gogolin<sup>bsup> ; Lisa van der Werff<sup>bsup> ; Theo Lynn<sup>asup>
• 关键词：Data breach ; Stock market ; Bid-ask spread ; Trading volume ; Event study
• 刊名：International Review of Financial Analysis
• 出版年：2017
• 出版时间：January 2017
• 年：2017
• 卷：49
• 期：Complete
• 页码：146-154
• 全文大小：338 K
• 卷排序：49

文摘

Investigate effect of data breach announcements on market activity, i.e. bid-ask spread and trading volume Investigate data breach announcements as a potential source of asymmetric information Data breach announcements found to have positive announcement day effect on market activity No abnormal informed trading evidenced before data breach announcements Data breach sizes and type found to be factors in response to data breach announcements