Effects of Personal Information Security Breaches on the Values of Firms in the Korean Stock Market - Comparative Study between IT and Non-IT Industries

摘要

As the collection of customers' personal information is becoming economically feasible, security breaches are also increasing. Therefore, it is important to estimate the direct and indirect costs of personal information security breaches. In this study, we will examine the effects of personal information security breaches on the market values of breached firms and analyze the difference between IT and non-IT industries. This study will be formulated and conducted using the event study methodology. We aim to provide an investment standard of information security to corporate decision makers and calculate the costs of personal information breaches in the stock market.