INVESTIGATIVE ANALYSIS OF THE FINANCIAL IMPLICATION OF COMPUTER VIRUS ATTACK ON ORGANIZATION’S DATA ASSET
ABSTRACT
This study investigates the financial implication of computer virus attack on organization’s information. Unlike previous studies that used an event study methodology, we used a matched-sample comparison analysis to investigate the financial implication of virus attack. To investigate this implication, we considered the method following the virus attack and determine if the affected organization suffers financial challenges compared to that of the peer organizations. It also identifies the need for organizations to address the issue of virus infection in its computer system as well as how organizations should proceed in order for these efforts to be successful. The authors present a schema to serve as a basis for future research and as a guide for organizational response. Overall the paper highlights the importance of culture in adequately addressing the risks associated with virus attack. The results suggested that data asset virus attack has minimal long term financial implication. One possible explanation is that the affected organization responds to the attack by making additional virus prevention investment to prevent from any future similar incident. This can lead to either help reduce the negative reputation of the firm caused by the virus attack or even has a positive long-term economic impact on the organization.
TABLE OF CONTENTS
Abstract
Table of Contents
List of Tables
CHAPTER ONE
INTRODUCTION
1.0 Introduction
1.1 Theoretical background
1.2 Statement of the problem
1.3 Aim and objectives of the study
1.4 Significant of the study
1.5 Scope of the study
1.6 Organization of the research
1.7 Definition of keyword terms
CHAPTER TWO
LITERATURE REVIEW
2.0 Introduction
2.1 Attacks on Computer Systems
2.2 Computer Viruses
2.2.1 Type of Targeted File
2.2.2. Longevity
2.3 Computer Virus Attack/Security Breach and Impact on Performance
CHAPTER THREE
RESEARCH METHODOLOGY
3.0 Introduction
3.1 Sample Selection
3.1.1 Financial Performance Measures
CHAPTER FOUR
RESULTS
4.0 Within Organization Differences
4.1 Results of the Treatment Samples
4.2 Results of the Control Samples
4.3 Between Organization Differences
SUMMARY, CONCLUSION AND RECOMMENDATION
5.0 Introduction
5.1 Constraint of the Study
5.2 Summary
5.3 Conclusion
5.4 Recommendation
References
LIST OF TABLES
Table 1: Descriptive Statistics
Table 2: Description of Financial Performance Measures
Table 3: Within Organizations Differences Analysis
Table 4: Between Firm Differences Analysis
CHAPTER ONE
INTRODUCTION
1.0 Introduction
As the number of organizations that conduct their businesses electronically grows continuously, information protection becomes one of major concerns for top them. According to a recent survey by Forrester, out of 410 IT decision makers, about 75 percent reported that IT security has become critical to their business planning and over 80 percent reported that they are concerned about financial losses from it [20]. In another survey taken from risk managers of the U.S and European companies,
computer risk was ranked as the top concern among European companies and the number two concern among U.S. companies [14].
Information system or data asset protection incidents are also continuously rising. According to the 2005 computer crime and security survey by CSI/FBI, 95 percent of respondents reported that their organization experienced more than 10 Web cite incidents in 2005 compared to only 5 percent of respondents in 2004 [11,12]. The same survey also reported that the average loss per incident from the unauthorized access to information has increased to $300K from 51K and loss from the virus attack data asset has also increased to $356K from $169K since 2004. Thus, a data asset attack incident could result in tremendous financial losses to organizations [8, 22].
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