Cybersecurity breaches and cash holdings: Spillover effect
研究发现，企业经历网络攻击后显著增加现金持有，从资产占比23%升至26.87%，且同行业和邻近地区的企业以及供应商也会跟进，表明网络安全漏洞的影响具有溢出效应。
Abstract This paper shows that firms significantly increase cash holdings after they have experienced a cybersecurity attack, and this behavior persists for years. A cyberattack increases cash holdings from a base level of 23% of assets to 26.87%. Similar firms, defined by industry and geographical proximity also increase their cash holdings. Suppliers of attacked firms are also affected. Overall, the results of this study indicate that the detrimental effects of a cybersecurity breach are not isolated to the attacked firms, and peer firms are quick to follow in taking precaution.