Do Lenders Price Firms Cybersecurity Risks?

Do Lenders Price Firms Cybersecurity Risks?

27/08/2025

Banking;Cybersecurity in finance

16:30

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17:00

This paper analyzes investor search behavior across financial information providers by modeling demand within a multi-class classification framework. Examining searches on Bloomberg Terminals and EDGAR, I explore how subscription prices, expected stock returns, and investor income influence the selection of financial data sources. The findings offer insights into information-seeking behavior, retrieval patterns, and access dynamics, highlighting the economic factors that drive the use of proprietary and open-access financial platforms.

This paper analyzes investor search behavior across financial information providers by modeling demand within a multi-class classification framework. Examining searches on Bloomberg Terminals and EDGAR, I explore how subscription prices, expected stock returns, and investor income influence the selection of financial data sources. The findings offer insights into information-seeking behavior, retrieval patterns, and access dynamics, highlighting the economic factors that drive the use of proprietary and open-access financial platforms.

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