資訊管理學報
洪嘉慶;黃正魁;古政元;
頁: 283-306
日期: 2018/07
摘要: 隨著資訊科技與網路應用的快速發展，企業已開始利用它們來提升組織內部與外部之間的溝通效率，但這也同時產生了資訊傳遞、個人資料保護與資訊安全的相關問題，因此企業在進行資訊化的當下其實亦面臨著潛藏之風險。另外，當網路與電腦計算能力提升的同時，駭客與惡意程式攻擊的傷害衝擊也隨之增加，如果企業的重要資料被竊取或洩漏，除了會重創企業的形象之外，也可能會影響公司的營運，並造成公司財務上的損失。因此，本研究希望透過資訊安全新聞事件的蒐集以及事件研究法的分析，找出資訊安全新聞事件與企業股價的關聯性，也就是希望瞭解當企業發生資訊安全事件時，是否會產生異常報酬？接下來透過統計方法來探討其顯著性，再將蒐集到的新聞事件依產業別進行分類，研究不同產業別是否產生不同的異常報酬？對於資訊安全事件的敏感程度是否也有所差異？研究結果顯示，資訊安全事件會讓企業產生短期的異常報酬，多在事件日當天與後一天，而不同的產業對於資訊安全事件的反應也有所不同。
關鍵字: 資訊安全新聞事件;事件研究法;市場價值;異常報酬;
Abstract: Purpose - To investigate the impact of information security news on corporate stock price, this study analyzes the degree of influence and also the response time lag in various industries. Design/methodology/approach - In order to find out the relevance between information security news and corporate stock price, this study adopts event study method. Real information security news and the corresponding stock prices were collected. With the statistical methods, we tried to explore whether there will be abnormal return when the information security news appeared. In addition, we examine whether there will be differences in abnormal return or sensitive level of information security news by categorizing the events in disparate industries accordingly. Findings - The research result demonstrates that the information security news will cause short-term abnormal return of stock price in the day of incident and the next day. Furthermore, the reaction to the information security events will vary in different industry. Research limitations/implications - Recently, the transmission of information security news not only depends on news media, but also on social media. Nevertheless, the research model which is suitable for collecting and analyzing on this aspect has not been formulated. It cannot be inferred that whether it will influence the investor to have different investment decision when they acquire the information this way. In the future, the transmission methods should be included in the research for analysis. Practical implications - With the advancement of information technology and development of network applications, it is a very important issue for enterprises to reduce operational risk which is brought about by information technology. If the information security incidents lead to user information leakage, it will cause damage to enterprise image. Through this research result, enterprises should pay more attention to maintenance of information security. Originality/value - By analyzing the recent news, the occurrence of information security incidents causes short-term abnormal return of enterprise stock price. Moreover, in different industry, such as Consumer Discretionary, Financials and Information Technology, the level of abnormal return is very different.
Keywords: information security news;event study method;market value;abnormal return;
瀏覽次數: 13278 下載次數: 306
引用 導入Endnote
頁: 283-306
日期: 2018/07
摘要: 隨著資訊科技與網路應用的快速發展，企業已開始利用它們來提升組織內部與外部之間的溝通效率，但這也同時產生了資訊傳遞、個人資料保護與資訊安全的相關問題，因此企業在進行資訊化的當下其實亦面臨著潛藏之風險。另外，當網路與電腦計算能力提升的同時，駭客與惡意程式攻擊的傷害衝擊也隨之增加，如果企業的重要資料被竊取或洩漏，除了會重創企業的形象之外，也可能會影響公司的營運，並造成公司財務上的損失。因此，本研究希望透過資訊安全新聞事件的蒐集以及事件研究法的分析，找出資訊安全新聞事件與企業股價的關聯性，也就是希望瞭解當企業發生資訊安全事件時，是否會產生異常報酬？接下來透過統計方法來探討其顯著性，再將蒐集到的新聞事件依產業別進行分類，研究不同產業別是否產生不同的異常報酬？對於資訊安全事件的敏感程度是否也有所差異？研究結果顯示，資訊安全事件會讓企業產生短期的異常報酬，多在事件日當天與後一天，而不同的產業對於資訊安全事件的反應也有所不同。
關鍵字: 資訊安全新聞事件;事件研究法;市場價值;異常報酬;
Research on Abnormal Return of Enterprise Stock Price for the Information Security News
Abstract: Purpose - To investigate the impact of information security news on corporate stock price, this study analyzes the degree of influence and also the response time lag in various industries. Design/methodology/approach - In order to find out the relevance between information security news and corporate stock price, this study adopts event study method. Real information security news and the corresponding stock prices were collected. With the statistical methods, we tried to explore whether there will be abnormal return when the information security news appeared. In addition, we examine whether there will be differences in abnormal return or sensitive level of information security news by categorizing the events in disparate industries accordingly. Findings - The research result demonstrates that the information security news will cause short-term abnormal return of stock price in the day of incident and the next day. Furthermore, the reaction to the information security events will vary in different industry. Research limitations/implications - Recently, the transmission of information security news not only depends on news media, but also on social media. Nevertheless, the research model which is suitable for collecting and analyzing on this aspect has not been formulated. It cannot be inferred that whether it will influence the investor to have different investment decision when they acquire the information this way. In the future, the transmission methods should be included in the research for analysis. Practical implications - With the advancement of information technology and development of network applications, it is a very important issue for enterprises to reduce operational risk which is brought about by information technology. If the information security incidents lead to user information leakage, it will cause damage to enterprise image. Through this research result, enterprises should pay more attention to maintenance of information security. Originality/value - By analyzing the recent news, the occurrence of information security incidents causes short-term abnormal return of enterprise stock price. Moreover, in different industry, such as Consumer Discretionary, Financials and Information Technology, the level of abnormal return is very different.
Keywords: information security news;event study method;market value;abnormal return;
瀏覽次數: 13278 下載次數: 306
引用 導入Endnote