Please use this identifier to cite or link to this item: http://scholarbank.nus.edu.sg/handle/10635/15709
Title: Economics of information security - Impact of government enforcement on hackers' behaviors - An event study analysis
Authors: WANG CHENYU
Keywords: Information Security, Government Enforcement, Event Study Methodology, Cumulative Abnormal Return (CAR), Panel Data, Fixed Effects Model (FEM)
Issue Date: 7-Feb-2007
Source: WANG CHENYU (2007-02-07). Economics of information security - Impact of government enforcement on hackers' behaviors - An event study analysis. ScholarBank@NUS Repository.
Abstract: Information security deals with the protection or preservation of six key aspects of information, namely, confidentiality, integrity, availability (CIA), authenticity, accountability, and non-repudiation. Considering organizationsa?? ever-increasing dependence on information systems for operational, strategic, and e-commerce activities, protecting information systems against potential threats to the organization has become a major concern for governmental policy as well as business corporations. In this paper, an extensive literature review of information security background, barriers to sound information security, and traditional measures to address information security are presented to serve as a solid foundation for further researches. The pros and cons of each method introduced are analyzed. Besides, this paper makes a meaningful attempt to establish an empirical econometric model in order to investigate the effect of government enforcement on hackersa?? behaviors using event study methodology. In addition, panel data estimation (specifically, the fixed effects model) is also employed to further illustrate the results given by the event study analysis. Our results demonstrate that government enforcement has a significantly negative and deterrent impact against hackersa?? behaviors by dramatically reducing the number of security attacks committed either for an individual country or at a global level. It complements the existing body of research in the realm of information security by incorporating an important variable - government enforcement - and contributes, to some degree, to the establishment of a more sophisticated model of information security. In addition, our results also provide valuable policy as well as economic implications.
URI: http://scholarbank.nus.edu.sg/handle/10635/15709
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