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Security Breaches Don’t Affect Stock Price

Ah, I’m having flashbacks to the days when some of us debated whether the TJ Maxx breach would have any significant impact and how could we determine impact.

Bruce Schneier cites a research report,“Long-term market implications of data breaches, not,” by Russell Lange and Eric W. Burger.

From key findings:

While the difference in stock price between the sampled breached companies and their peers was negative (1.13%) in the first 3 days following announcement of a breach, by the 14th day the return difference had rebounded to + 0.05%, and on average remained positive through the period assessed.For the differences in the breached companies’ betas and the beta of their peer sets, the differences in the means of 8 months pre-breach versus post-breach was not meaningful at 90, 180, and 360 day post-breach periods.

Read more on Security Boulevard.

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