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The impact of cyber enforcement actions on stock returns

Author

Listed:
  • Carboni, Marika
  • Dell’Atti, Stefano
  • Gianfrancesco, Igor
  • Onorato, Grazia

Abstract

This paper investigates the impact of cyber enforcement actions on stock returns for a sample of US financial listed entities, by taking into account traditional banks versus either fintech banks or fintech/non-fintech shadow banks. We provide evidence of a less favorable market reaction for the last group relative to the group of traditional banks, consistently with the view that traditional banks are less technology-oriented and therefore they should be less subject to cyber enforcement actions than fintech and shadow banks.

Suggested Citation

  • Carboni, Marika & Dell’Atti, Stefano & Gianfrancesco, Igor & Onorato, Grazia, 2024. "The impact of cyber enforcement actions on stock returns," Research in International Business and Finance, Elsevier, vol. 71(C).
    • Handle: RePEc:eee:riibaf:v:71:y:2024:i:c:s0275531924002538
    DOI: 10.1016/j.ribaf.2024.102460
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    More about this item

    Keywords

    Bank; Fintech; Shadow banks; Cyber enforcement actions;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation

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