Does Social Media Help Level the Playing Field in Director Labor Markets? Evidence from Twitter
Does Social Media Help Level the Playing Field in Director Labor Markets? Evidence from Twitter
Firms are increasingly exposed to cybersecurity risks. We examine whether lenders recognize and accordingly price firmsÃÂ cybersecurity risks. Our findings indicate that lenders on average charge a 4 to 12 basis points higher loan rate when a firm exhibits greater cybersecurity risk over time. Commercial banks tend to adopt a more stringent approach to pricing cybersecurity risks compared to non-bank lenders. Finally, the purchase of cybersecurity insurance by a firm does not mitigate the higher loan spreads associated with elevated cybersecurity risks.
Firms are increasingly exposed to cybersecurity risks. We examine whether lenders recognize and accordingly price firmsÃÂ cybersecurity risks. Our findings indicate that lenders on average charge a 4 to 12 basis points higher loan rate when a firm exhibits greater cybersecurity risk over time. Commercial banks tend to adopt a more stringent approach to pricing cybersecurity risks compared to non-bank lenders. Finally, the purchase of cybersecurity insurance by a firm does not mitigate the higher loan spreads associated with elevated cybersecurity risks.

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