Insights for Economic Security: Recovery Strategies from Cyber-Attacks
Iryna Leroy, Irynа Zolotаryovа · 2023
This article delves into strategies for businesses to bolster cybersecurity and mitigate financial losses post-cyber-attacks. It leverages Lean Six Sigma methodologies and data from past research on significant data breaches in US and EU stock markets. The study investigates the link between cyber-attacks and stock market dynamics, with a focus on reputation management. Gaussian distribution and Six Sigma methodology are used for probability analysis. Key findings underscore the significance of predictability, precision, and reputation management in cyber-risk mitigation. Effective reputation management reduces insurance costs and market share loss, while inadequate management results in higher expenses. The research introduces novel insights into safeguarding a company's value, reducing vulnerabilities, and advocating for Cyber Autonomy and reputation management to lower insurance premiums and enhance protective measures.