文章基本信息

标题：An Analysis of the Impact of WannaCry Cyberattack on Cybersecurity Stock Returns
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作者：Daniel Castillo ; Joseph Falzon
期刊名称：Review of Economics & Finance
印刷版ISSN：1923-7529
电子版ISSN：1923-8401
出版年度：2018
卷号：14
期号：4
语种：English
出版社：Academic Research Centre of Canada
摘要：This research examines the impact of the WannaCry cyberattack, considered to be the defining event for cyber threats, on stock returns of companies operating in the cybersecurity industry on the first trading day after the event. The aim is to ascertain whether the reaction of stock prices on this day could be classified as abnormal and which direction they follow. The expectation is for a demand shift for the products and services offered by these firms and consequently stock markets should reflect this new information in equity prices. Literature has mostly focused on natural catastrophes and lately on man-made catastrophes like terror attacks. This study explores the emerging area of cyberattacks which could develop into catastrophic situations. Event-study methodology is employed for the analysis of this specific event and results clearly indicate that WannaCry had a positive effect on the equity returns of cybersecurity companies and cybersecurity investment vehicles.
关键词：WannaCry Cyberattack;Ransomware;Stock returns;Event-study;Cybersecurity industry