Title: The relationship between cyber-attacks and dynamics of company stock: the role of reputation management

Authors: Iryna Leroy

Addresses: Czech Republic European Security and Defence College, Prague, University of Economy and Management, Brussels, Belgium

Abstract: There are a number of factors that can affect the value of stock prices to move stocks up and down. News (both economic and political) often has significant influence on the financial system and the stock market. News about cyberattacks on companies is always negative. For example, in September 2014 shares of the technology company Apple fell more than 4% in a day after rumours of a hack in the cloud service iCloud, which resulted in the distribution of photographs of American celebrities. Cyber-attacks cause not only financial damage, but also lead to reputational losses. Which reputation management tools can companies use in order to recover the value of the company's shares? This study provides evidence of the recovery of shares of those companies that use certain tools of reputation management and allows better share price recovery in the stock market, after a cyber-attack occurs.

Keywords: reputation management; information security; investor relations; computer security; cyber-attack; stock market.

DOI: 10.1504/IJESDF.2022.123891

International Journal of Electronic Security and Digital Forensics, 2022 Vol.14 No.4, pp.309 - 317

Received: 05 Mar 2021
Accepted: 18 May 2021
Published online: 04 Jul 2022 *

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