The Role of Cybersecurity Governance in Activating the Disclosure of Cybersecurity Risk Management and its Impact on Improving Financial Performance: An Experimental Study on Banks Listed on the Egyptian Stock Exchange

Research objective: the study aimed to test the extent to which Cybersecurity governance contributes to reducing the risks of cyber attacks as an approach to activate the disclosure of the cybersecurity risk management report, and its impact on improving the financial performance of banks listed on the Egyptian Stock Exchange.
Research methodology: The study relied on the descriptive analytical approach, which combines both theoretical analyses of the most important various literatures related to the research topic, and also conducting an experimental study that targeted a sample of accountants and internal auditors in banks listed on the Egyptian Stock Exchange. The sample size was 105 participants with a response rate of 100%, to test the research hypotheses using a set of statistical methods and tests, which were: descriptive statistics measures, Cronbach's alpha coefficient and the one - sample Wilcoxon signed rank test.
Research results: The results of this research indicate: First, Cybersecurity  ​​governance contributes positively and significantly in reducing the risks of cyber attacks in banks listed on the Egyptian Stock Exchange. Second, Cybersecurity  ​​governance contributes positively and significantly in activating the disclosure of a cybersecurity risk management report in banks listed on the Egyptian Stock Exchange. Third, the disclosure of cybersecurity risk management report under Cybersecurity governance is expected to improve the financial performance of banks listed on the Egyptian Stock Exchange.
Originality/ value: The scientific addition of this research appears in its attempt to contribute to the cognitive construction of one of the topics that has attracted the interest of the global economic arena, which is the topic of Cybersecurity governance and its role in reducing the risks of cyber attacks in the banking sector, in addition to its expected role in activating the disclosure of the cybersecurity risk management report. Especially, the previous studies that were conducted inside Egypt -Within the limits of what the researcher has seen- didn't care about testing directly and in detail the extent to which cyber governance contributes to reduce the risks of cyber attacks as an approach to activate the disclosure of the cybersecurity risk management report, and its reflection on improving the financial performance of banks listed on the Egyptian Stock Exchange.This research is also represents a continuation to the capital market researches, and thus investors, company managers and other stakeholders can benefit from its findings in rationalizing the financial and investment decisions.