Cyber Security data breaches are an evolving major risk that corporations, public and private alike, have to contend with as part of their risk management scenarios. Historically, studies evaluating shareholder ramifications of cyber data breaches have been limited by the lack of data available...

The growing threat of cyber breach as become one of the most feared risks corporations around the world are currently dealing with. The dynamic nature of cyber risk, along with evolving global regulations, necessitates that corporate management strategically address cyber risk to minimize...

Cyber risk can underlie the next financial crisis. Increasing trade policies on cross-border financial services have been implemented to manage cybersecurity concerns. Simply complying with the fragmented policies can cause unintended consequences for businesses and can even result in new cyber...

We construct and validate a text-based metric capturing firms' ex-ante exposure to cybersecurity risk, and we document that the rise of cyber threats is redesigning corporate innovation strategies. As firms' exposure to cybersecurity risk increases, managers' reliance on trade-secrets declines,...

We examine a potential path to value-creation by cybersecurity investments: a reduction in a firm's cost of capital. Building on the existing literature on corporate finance, we suggest that given the business-ending threats of cybersecurity incidents and the importance of cybersecurity...

We use a unique cross-country dataset at the loss event level to document the evolution and characteristics of banks' operational risk. After a spike following the great financial crisis, operational losses have declined in recent years. The spike is largely accounted for by losses due to...

Cyber risk is an emerging source of systemic risk in the financial sector, and possibly a macro-critical risk too. It is therefore important to integrate it into financial sector surveillance. This paper offers a range of analytical approaches to assess and monitor cyber risk to the financial...

We investigate the impact of customers' cybersecurity breaches (CSBs) on its supplier's relationship-specific investment decisions and the duration of supplier-customer relationship. We document a significant negative association between customer reported CSBs and suppliers'...

Drawing on an analysis of German national cybersecurity policy, this paper argues that cybersecurity has become a key site in which states mobilize science and technology to produce state power. Contributing to STS work on technoscience and statecraft, I develop the concepts of...