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Orientador(es)
Resumo(s)
The main focus of this paper is to study empirically the impact of major cyberattacks in the
market value of the ten most exposed insurers to cyber risk. Using an event study for 53 global
cyberattacks, we observe a negative and statistically significant stock price reaction for insurers
around the cyberattack disclosure dates. The increase in the assessed probability of an increase in
future payments tends to prevail over the increase in demand and/or premiums caused by the
disclosure of global major cyberattacks. The results of our analysis also show a higher negative
stock market reaction for small insurers and when involves financial information loss.
Descrição
Palavras-chave
Insurance Cyberattack Cyber risk Market reaction Event study
Contexto Educativo
Citação
Martins, António Miguel; Moutinho, Nuno (2025). Stock-term market impact of major cyber-attacks: evidence for the ten most exposed insurance firms to cyber risk. Finance Research Letters. ISSN 1544-6123. 71, p. 1-9
Editora
Elsevier