Showing 1 - 10 of 636
We construct novel text-based measures of firm-level cyber risk exposure based on quarterly earnings calls of 12,000+ firms from 85 countries over 20+ years. We categorize each cyber-related discussion into topics that capture sentiment, monetary loss, country names, etc. We document new facts...
Persistent link: https://www.econbiz.de/10012585390
We develop a novel firm-level measure of cybersecurity risk using textual analysis of cybersecurity-risk disclosures in corporate filings. The measure successfully identifies firms extensively discussing cybersecurity risk in their 10-K, displays intuitive relations with quantitative measures of...
Persistent link: https://www.econbiz.de/10012482415
The amount of computational power devoted to anonymous, decentralized blockchains such as Bitcoin's must simultaneously satisfy two conditions in equilibrium: (1) a zero-profit condition among miners, who engage in a rent-seeking competition for the prize associated with adding the next block to...
Persistent link: https://www.econbiz.de/10012453003
To identify the determinants of cross-country disparities in personal computer and Internet penetration, we examine a … significant in most specifications for computer use. A similar pattern holds true for Internet use, except that telephone density … differentials. For computers, telephone density and regulatory quality are of second and third importance, while for the Internet …
Persistent link: https://www.econbiz.de/10012468005
Computer and Internet use, especially in developing countries, has expanded rapidly in recent years. Even in light of … Internet penetration, both currently and over time, we examine panel data for 161 countries over the 1999-2004 period. We … factors associated with computer and Internet penetration do not differ substantially between developed and developing …
Persistent link: https://www.econbiz.de/10012466283
While the advent of cryptocurrencies and digital assets holds promise for improving and disrupting financial systems by offering cheap, quick, and secure transfer of value, it also opens up new payment channels for cybercrimes. A prerequisite to solving a problem is understanding the nature of...
Persistent link: https://www.econbiz.de/10013537728
Data is nonrival: a person's location history, medical records, and driving data can be used by any number of firms simultaneously. Nonrivalry leads to increasing returns and implies an important role for market structure and property rights. Who should own data? What restrictions should apply...
Persistent link: https://www.econbiz.de/10012480204
When is record-keeping better arranged through a blockchain than through a traditional centralized intermediary? The ideal qualities of any record-keeping system are (i) correctness, (ii) decentralization, and (iii) cost efficiency. We point out a blockchain trilemma: no ledger can satisfy all...
Persistent link: https://www.econbiz.de/10012481054
In this paper we study how the existence of a functioning market for technology differentially conditions the entry strategy and survival of different types of entrants, and the role of scale, marketing ability and technical assets. Markets for technology facilitate entry of firms that lack...
Persistent link: https://www.econbiz.de/10012465005
Thanks to big data, artificial intelligence (AI) has spurred exciting innovations. In the meantime, AI and big data are reshaping the risk in consumer privacy and data security. In this essay, I first define the nature of the problem and then present a few facts about the ongoing risk. The bulk...
Persistent link: https://www.econbiz.de/10012453461