Costs of Cyber Data Breaches in Public Companies

Michael Klausner, George Triantis 2016 - 2017

Costs of Cyber Data Breaches in Public Companies

This project addresses the need for quantitative measures of the costs incurred by publicly traded companies that experience cyber data breaches. The currently available information is focused more on frequency than severity of breach, including the scope and costs of breach. Most of the publicly available data is the result of surveys and the commercially available cyber-breach data are regarded by many to be inaccurate, incomplete and not organized in such a way as to support analysis. This project collects a broad set of data relating to the costs that publicly traded firms have incurred as a result of breaches from 2007 to the present. For its sources, it draws on thorough examination of publicly available sources, including filings with the Securities Exchange Commission, Federal Trade Commission enforcement releases, PACER federal court filings, state breach disclosure websites and national news stories.

Researchers

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Michael Klausner

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Michael Klausner

Nancy and Charles Munger Professor of Business and Professor of Law
Michael Klausner teaches and writes in the areas of corporate law, corporate governance, business transactions and financial regulation. His research has included theoretical and empirical analyses of corporate governance, liability risk for corporate officers and directors, securities litigation, takeover defenses, standardization of contracts, and the economics underlying business transactions. He oversees Stanford Securities Litigation Analytics, which maintains a large database covering securities class actions and SEC enforcement actions, and he is currently writing a book entitled Deals: The Economic Structure of Business Transactions.”
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George Triantis

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George Triantis

Charles J. Meyers Professor of Law and Business
George Triantis is an expert in the fields of contracts, commercial law, business law, and bankruptcy. He was the Eli Goldston Professor of Law at Harvard Law School before joining the Stanford faculty in 2011, and he has since then returned from time to time as the Sullivan & Cromwell Visiting Professor of Law at Harvard.