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The Impact of Data Breaches on Hotel and Restaurant Firm Stock Returns

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dc.contributor.authorJohnson, Mark S.
dc.contributor.authorKang, Min Jung
dc.contributor.authorLawson, Tolani
dc.contributor.authorSingh, A.J.
dc.contributor.departmentMichigan State University
dc.contributor.departmentUniversity of Michigan-Flint
dc.contributor.departmentWestRock Company
dc.contributor.departmentUniversity of Texas Rio Grand Valley
dc.date2023-09-23T22:05:29.000
dc.date.accessioned2024-04-26T17:48:27Z
dc.date.available2018-11-13T00:00:00Z
dc.date.issued2018-01-01
dc.description.abstractHospitality firms are susceptible to data breaches due to the high volume of information they keep on customers and employees. In this paper, we first present an analysis of the stock market’s reaction to data breaches at hospitality firms, and we compare these breaches to a matched-firm sample of retail firm breaches. Abnormal stock market returns indicate that hotel and restaurant firm stock prices went down by approximately 1.24% from data breach announcements. We find that the type of breach or number of times a firm has been breached does not alter the impact of a breach on firm returns. Additionally, we find that data breaches cause a greater loss of value for hotel firms than for restaurants. Finally, we find no support for the idea that hospitality firms exhibit larger negative effects compared to retail firms on a matched-pair analysis.
dc.identifier.doihttps://doi.org/10.7275/v8kg-hy29
dc.identifier.urihttps://hdl.handle.net/20.500.14394/31027
dc.relation.urlhttps://scholarworks.umass.edu/cgi/viewcontent.cgi?article=1428&context=jhfm&unstamped=1
dc.source.statuspublished
dc.subjectCAPM
dc.subjectdata breach
dc.subjectevent study
dc.subjectstock returns
dc.titleThe Impact of Data Breaches on Hotel and Restaurant Firm Stock Returns
dc.typerefereed
dc.typearticle
digcom.contributor.authorJohnson, Mark S.
digcom.contributor.authorKang, Min Jung
digcom.contributor.authorLawson, Tolani
digcom.contributor.authorSingh, A.J.
digcom.date.embargo2018-11-13T00:00:00-08:00
digcom.identifierjhfm/vol26/iss2/3
digcom.identifier.contextkey13305489
digcom.identifier.submissionpathjhfm/vol26/iss2/3
dspace.entity.typePublication
relation.isJournalIssueOfPublicationd3ef62b1-8c4d-4f48-a9db-5e78075aae8c
relation.isJournalIssueOfPublication.latestForDiscoveryd3ef62b1-8c4d-4f48-a9db-5e78075aae8c
relation.isJournalOfPublication6155825c-4ad2-4120-88a6-007286cea199
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