| Abstract [eng] |
This thesis examines how cybersecurity incidents affect company value and investment behavior, performing an event study. The analysis estimates abnormal and cumulative abnormal returns around cybersecurity incident disclosure dates for a sample of publicly listed companies in a selected market of Northern European countries. The study examines if market reactions are different according to incident characteristics and how company communication quality influences investor response. Study combines quantitative market analysis and quantitative assessment of companies' disclosures. The results show that cybersecurity incidents in the event sample do not produce strong short term market reactions, but point to differences across incident types. The results are limited to sample size, reliance on publicly disclosed incidents and reported information. |
