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http://dx.doi.org/10.3745/KIPSTC.2006.13C.1.063

A Study on cost damage of Cyber Attacks and their Impact on Stock Market  

Oh Il-Seok (노스웨스턴대학교 법과대학)
Lee Seok-Yun (성균관대학교 정보통신공학부)
Publication Information
The KIPS Transactions:PartC / v.13C, no.1, 2006 , pp. 63-68 More about this Journal
Abstract
Cyber Attacks have increased damages constantly in all over the world for several years. A survey said the cost caused by Cyber Attacks had increased 225 times from 1996 to 2003. It is very difficult to calculate the cost by the Attacks exactly but the calculating the cost of cyber attacks would be great helpful for a company to decide how much budget to spend to Information Security. In this research we could reach the conclusion : the cyber attacks has decreased the stock price of the companies, especially pure internet companies. But the stock market has not greatly impacted by the types of Cyber Attacks. Korean stock market also impacted by the Internet Destruction Accident happened Jan. 25. 2003. On the basis of this study we will recommend a policy or a regulation which force board of directors and officers of a company to have information security liability.
Keywords
Cyber Attacks; Economic Impact; Cost; Value of a Stock;
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