New Insurance Findings from Friedrich-Alexander-University Erlangen-Nurnberg (FAU) Outlined (Cyber Risk Management In the Us Banking and Insurance Industry: a Textual and Empirical Analysis of Determinants and Value): Insurance

2022 JUN 17 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Research findings on Insurance are discussed in a new report. According to news originating from Nurnberg, Germany, by NewsRx correspondents, research stated, “In this paper, we first construct a cyber risk consciousness score using a text mining algorithm, applied to annual reports of large- and mid-cap US banks and insurers from 2011 to 2018. We next categorize the firms’ cyber risk management based on keywords to study determinants and value-relevance.”

Financial support for this research came from Faculty of Business, Economics and Law at Friedrich-Alexander-Universitat Erlangen-Nurnberg.

Our news journalists obtained a quote from the research from Friedrich-Alexander-University Erlangen-Nurnberg (FAU), “Our results show an increasing cyber risk consciousness, regardless of the industry. In addition, for the entire sample we find that firms belonging to the banking industry, with a higher cyber risk consciousness score and a higher general risk awareness are more likely to implement cyber risk management, which also holds for both industries separately. We find the opposite in the case of profitable firms for the entire sample and the insurer subsample.”

According to the news editors, the research concluded: “Finally, we observe a significant positive relationship between cyber risk management and firm value measured by Tobin’s Q for the entire sample and the subsamples of banks and insurers.”

This research has been peer-reviewed.

For more information on this research see: Cyber Risk Management In the Us Banking and Insurance Industry: a Textual and Empirical Analysis of Determinants and Value. Journal of Risk & Insurance, 2022. Journal of Risk & Insurance can be contacted at: Wiley, 111 River St, Hoboken 07030-5774, NJ, USA. (Wiley-Blackwell - http://www.wiley.com/; Journal of Risk & Insurance - http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1539-6975)

The news correspondents report that additional information may be obtained from Madeline Schubert, Friedrich-Alexander-University Erlangen-Nurnberg (FAU), Sch Business Econ & Soc, Lange Gasse 20, D-90403 Nurnberg, Germany.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1111/jori.12381. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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