The information security accident about the impact and relevance to the corporate value

Abstract

Information security incidents could be one of the most concerns for corporate activities.Considering these factors, this study attempts to clarify the relationship between information securityincidents and stock market reactions. In this analysis, we analyze the stock market in Japan from March2005 to January 2015. As a result of intensive analyses, we confirm the following results; (1) informationsecurity incidents have a negative impact on corporate values, (2) information security incidents withsignificant impact have long-term negative effects on stock market.