Publication
Stock-term market impact of major cyber-attacks: evidence for the ten most exposed insurance firms to cyber risk
| dc.contributor.author | Martins, António Miguel Valente | |
| dc.contributor.author | Moutinho, Nuno | |
| dc.date.accessioned | 2024-12-13T11:49:54Z | |
| dc.date.available | 2024-12-13T11:49:54Z | |
| dc.date.issued | 2025 | |
| dc.description.abstract | 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. | pt_PT |
| dc.description.sponsorship | This paper is financed by Portuguese national funds through FCT – Fundação para a Ciência e a Tecnologia, I.P., projects numbers UIDB/00685/2020 (António Martins) and UNIAG, UIDB/04752/2020 and UIDP/04752/2020 (Nuno Moutinho). | pt_PT |
| dc.description.version | info:eu-repo/semantics/publishedVersion | pt_PT |
| dc.identifier.citation | 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 | pt_PT |
| dc.identifier.doi | 10.1016/j.frl.2024.106361 | pt_PT |
| dc.identifier.issn | 1544-6123 | |
| dc.identifier.uri | http://hdl.handle.net/10198/30727 | |
| dc.language.iso | eng | pt_PT |
| dc.peerreviewed | yes | pt_PT |
| dc.publisher | Elsevier | pt_PT |
| dc.relation | Center of Applied Economic Studies of the Atlantic | |
| dc.relation | Applied Management Research Unit | |
| dc.relation | Applied Management Research Unit | |
| dc.rights.uri | http://creativecommons.org/licenses/by/4.0/ | pt_PT |
| dc.subject | Insurance | pt_PT |
| dc.subject | Cyberattack | pt_PT |
| dc.subject | Cyber risk | pt_PT |
| dc.subject | Market reaction | pt_PT |
| dc.subject | Event study | pt_PT |
| dc.title | Stock-term market impact of major cyber-attacks: evidence for the ten most exposed insurance firms to cyber risk | pt_PT |
| dc.type | journal article | |
| dspace.entity.type | Publication | |
| oaire.awardTitle | Center of Applied Economic Studies of the Atlantic | |
| oaire.awardTitle | Applied Management Research Unit | |
| oaire.awardTitle | Applied Management Research Unit | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F00685%2F2020/PT | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDB%2F04752%2F2020/PT | |
| oaire.awardURI | info:eu-repo/grantAgreement/FCT/6817 - DCRRNI ID/UIDP%2F04752%2F2020/PT | |
| oaire.citation.endPage | 9 | pt_PT |
| oaire.citation.startPage | 1 | pt_PT |
| oaire.citation.title | Finance Research Letters | pt_PT |
| oaire.citation.volume | 71 | pt_PT |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| oaire.fundingStream | 6817 - DCRRNI ID | |
| person.familyName | Moutinho | |
| person.givenName | Nuno | |
| person.identifier.ciencia-id | CA1B-4924-2BBA | |
| person.identifier.orcid | 0000-0002-9242-8324 | |
| person.identifier.scopus-author-id | 57742333300 | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.identifier | http://doi.org/10.13039/501100001871 | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| project.funder.name | Fundação para a Ciência e a Tecnologia | |
| rcaap.rights | openAccess | pt_PT |
| rcaap.type | article | pt_PT |
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