The Impact of disclosure of Cybersecurity Risk Management Report on the Investment Decision in Companies listed on the Egyptian Stock Exchange: Experimental Study

Document Type : Original Article

Authors

1 Accounting Department faculty of Commerce Beni Suef University Egyptian

2 Accounting and auditing Department Faculty of Commerce - Beni Suef University Egypt

Abstract

The research aimed to study and test the impact of disclosure of Cybersecurity Risk Management Report on the investment decision in shares listed on the Egyptian Stock Exchange. The research also examined the impact of some demographic characteristics (investor qualification and experience level) on the relationship under study. To achieve the research objective, an experimental study was conducted on a sample of stock investors and financial analysts in brokerage firms.
The research concluded that there is a positive significant relationship between the Cybersecurity Risk Management Report and the stock investment decision, as it gives confidence to the company's work in the field of cybersecurity and protection from electronic attacks. This enables investors to assess the extent of the company's ability to maintain information security and reduce the possibility of breaches and negative events in the future, which contributes to rationalizing investors' decisions and improving the quality of their investment judgments.
The research also concluded that there is a significant effect of the investor's experience and the level of his scientific qualification on the relationship between the disclosure of the cybersecurity risk management report and the stock investment decision. Furthermore, the results of the additional analysis also confirmed the importance of the investor's demographic characteristics in influencing his investment judgments. Finally, the results of the sensitivity analysis were consistent with the results of the basic analysis when changing the method of measuring the dependent variable (investment decision).

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