The effectiveness of information disclosure under cyber attack

Abstract

With the global economy increasingly relying on electronic transactions, more and more companies are suffering from network attacks, which have a certain impact on the future development of their enterprises. I use the information of cyber attacks suffered by Listed Companies in the United States from 2005 to 2019 to analyze whether the cyber attacks will have a short-term impact on the stock prices of the companies under attack, and whether effective information disclosure can help the companies to stop the loss effectively to a certain extent. I find that effective information disclosure can help enterprises reduce the negative impact to a certain extent, and when the relevant information reaches a higher degree of openness and transparency, it can help enterprises go through the crisis more smoothly compared to the enterprises less so.