Abstract
This study examined the effects of cyberattacks on the profitability of U.S. public and private commercial banks using a sample of 120 data breaches across various institutions. The results showed that cyberattacks negatively influence bank profitability, with effects more robust in the 12 quarters following a breach, especially from non-hack breaches. Large and private banks suffer more than small and public banks, with breaches resulting in decreased deposits and loans and increased liquidity. These changes are confirmed as independent channels reducing bank profitability. The results were robust after controlling for factors like multicollinearity, non-stationarity, cross-sectional dependence, and heteroskedasticity.
Keywords
cybersecurity, data breaches, breach types, performance ownership
Chinese Abstract
深入分析网络攻击对美国商业银行盈利能力的影响
本研究使用不同机构的 120 宗数据泄露事件作为样本，研究了网络攻击对美国公共和私人商业银行盈利能力的影响。 结果显示，网络攻击对银行盈利能力产生负面影响，在违规行为发生后的 12 个季度中影响更为强劲，尤其是非黑客相关的违规行为。 大型和私人银行比小型和公共银行遭受的损失更大，违规行为导致存款和贷款减少，流动性增加。 这些变化被证实是降低银行盈利能力的独立因素。 在控制多重共线性、非平稳性、横截面依赖性和异方差等因素后，结果是可靠的。
关键词：网络安全、数据泄露、违规类型、表现所有权
ORCID Identifiers
Asligul Erkan-Barlow: https://orcid.org/0000-0001-5159-7634
Thanh Ngo: https://orcid.org/0000-0003-4950-1474
Rajni Goel: https://orcid.org/0000-0002-2516-0399
Denise W. Streeter: https://orcid.org/0000-0003-3267-1397
DOI
10.5038/2640-6489.8.2.1246
Recommended Citation
Erkan-Barlow, A., Ngo, T., Goel, R., & Streeter, D. W. (2023). An in-depth analysis of the impact of cyberattacks on the profitability of commercial banks in the United States. Journal of Global Business Insights, 8(2), 120-135. https://www.doi.org/10.5038/2640-6489.8.2.1246
Creative Commons License
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