Revisiting The Cost Of Data Breach Disclosures: A Decade Later - Extension

Abstract

This article is an extension of the article, “Revisiting the Cost of Data Breach Disclosures: A Decade Later.” This extension takes the first step towards the identification and classification of underlying factors affecting the shift in stock market backlash discovered in the paper. The goal is to get an insight into several factors and determine whether or not said factors are correlated to the market response shift corresponding to the studied events. The primary concern regarding this research is a lack of available information concerning the majority of the events. While stock market archives are well kept and a majority of news sources have historic archives, more often than not such archives are not complete and often have access limitations. As such, this study was to make do with readily available news articles of the events. The project relied on the utilization of sentiment analysis to determine the sentiment of articles around a filtered random sample of the 198 events analyzed in the paper. It was found that there was no significant correlation between the general article sentiment and the shift in market backlash. However, in terms of a specific, majority subcategory (Tech), correlation can be found and statistically shown.