Comparing the Cybersecurity Risk Disclosures of US and Foreign Firms

2021 ◽  
Author(s):  
Thomas Calderon ◽  
Lei Gao
Keyword(s):  
Key Words ◽  
Textual Analysis ◽  
Home Bias ◽  
Foreign Firms ◽  
Risk Disclosure ◽  
Disclosure Regulation ◽  
The Us ◽  
Risk Disclosures

This study explores the cybersecurity risk disclosure differences between foreign firms listed in the US and US firms. We first extract cybersecurity risks disclosures text with a Python program based on a list of cybersecurity key words. We then perform textual analysis of the cybersecurity risk disclosures in foreign firms’ 20-F filings and US firms’ 10-K filings. During our study period, we observe that foreign firms disclose more about their cybersecurity risks and their disclosures are more readable than US firms. Foreign firms also use more numbers, fewer uncertainty words and fewer litigious language than their US counterparts.  In general, our study suggests that cybersecurity risk disclosures made by foreign firms are clearer and more specific than those made by US firms. This finding could have implications for disclosure regulation and home bias research.

Classifying the Contents of Cybersecurity Risk Disclosure through Textual Analysis and Factor Analysis

2020 ◽  
Author(s):  
Arion Cheong ◽  
Kyunghee Yoon ◽  
Soohyun Cho ◽  
Won Gyun No
Keyword(s):  
Factor Analysis ◽  
Internal Control ◽  
Textual Analysis ◽  
Quantitative Methodology ◽  
Risk Disclosure ◽  
Related Factors ◽  
Negative Effect ◽  
Internal Control Weaknesses ◽  
Risk Disclosures

Cybersecurity has garnered much attention due to the increasing frequency and cost of cybersecurity incidents in recent years and become a significant concern for organizations and governments. Regulators such as the Security and Exchange Commission (SEC) have also shown an interest in cybersecurity and the quality of cybersecurity risk disclosures. This paper examines the informativeness of cybersecurity risk disclosures when cybersecurity incidents or related internal control weaknesses are reported. In particular, we propose a quantitative methodology, which is a combination of textual analysis and factor analysis, for classifying cybersecurity risk disclosures into nine factors. Our results show different disclosing patterns among firms depending on whether they had cybersecurity incidents and internal control weaknesses. Further, our analysis indicates that firms disclose control-related factors to mediate the negative effect of disclosing vulnerability-related factors. This study provides various stakeholders, including investors, regulators, and researchers, with insight into the informativeness of cybersecurity risk disclosures.

scholarly journals Readability of Operational Risk Disclosures of Banks

2019 ◽  
Vol 14 (3) ◽  
pp. 108-116 ◽  
Author(s):  
Mocanu Mihaela ◽  
Grose Christos ◽  
Kargidis Theodoros
Keyword(s):  
Financial Institutions ◽  
Commercial Banks ◽  
Textual Analysis ◽  
Banking System ◽  
Operational Risk ◽  
Risk Disclosure ◽  
Financial Firms ◽  
Risk Disclosures ◽  
Technical Terms

AbstractOperational risk has been acknowledged as a major source of material failures in financial firms. Despite the increased concern of financial institutions and their stakeholders on this topic, the literature that deals specifically with the operational risk disclosure in the banking system is scarce. The present research investigates the readability in transparency reports of Romanian banks, and focuses in particular on the operational risk disclosures. The sample consists of 13 commercial banks operating in Romania in 2017. A concise transparency report is characterized by clarity in the expression of concepts, usage of as few words as possible, limited use of technical terms and avoidance of highly generic disclosures. Drawing upon prior research, we expect that banks with lower levels of performance are foggier (i.e. less concise) in order to improve the image resulting from their transparency reports. Additionally, it is expected that the longer an entity has been established, the higher the quality of disclosures, thus the transparency reports of older banks are more concise compared to the recently established banks. Moreover, we posit that larger banks are more likely to provide more readable reports. The research is part of the larger debate related to disclosure and its various impacts on both the recipient and the giver of information. The main contribution is the innovative approach consisting in the textual analysis of transparency risk reports. To the best of our knowledge, we are not aware of any study that examined conciseness in the setting of operational risk disclosure by banks.

scholarly journals The disclosure of enterprise risk management (ERM) information: An overview of Canadian regulations for risk disclosure

2013 ◽  
Vol 2 (4) ◽  
pp. 13-21 ◽  
Author(s):  
Michael Maingot ◽  
Tony Quon ◽  
Daniel Zeghal
Keyword(s):  
Financial Reporting ◽  
Annual Report ◽  
Risk Disclosure ◽  
International Regulation ◽  
Financial Reporting Standards ◽  
Accounting Disclosures ◽  
Enterprise Risk ◽  
The Us ◽  
Risk Disclosures ◽  
Disclosure Obligations

This paper discusses the mandatory risk disclosures in Canada under International Financial Reporting Standards (IFRS). U.S. mandatory accounting disclosures of risk are also briefly examined, since some Canadian companies are cross-listed in the US. Mandatory disclosures of risk under the Basel II and Basel III Accords for the international regulation of banks are discussed as well as the assessment of ERM by Standard & Poor’s. The risk disclosures in the Management Discussion & Analysis (MD&A) section of the annual report prescribed by the Canadian Securities Administrators (CSA) in National Instrument 51-102 Continuous Disclosure Obligations are examined. Since these risk disclosures are voluntary, the actual disclosures in the MD&A section of the annual report are entirely at the discretion of management subject to effective board oversight.

Opening the Chrysalis: Willard D. Straight’s Sketches, Photographs, and Accounts of Korea’s Interaction with the Outside World, 1904–5

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Bahar Gürsel
Keyword(s):  
Twentieth Century ◽  
Textual Analysis ◽  
Transition Period ◽  
Global History ◽  
Cornell University ◽  
Early Twentieth Century ◽  
The Us ◽  
Manuscript Collections ◽  
Visual Reading

Abstract Willard D. Straight – architect, diplomat, photographer, publisher, sketcher, and writer – arrived in Korea in 1904 as a correspondent during the Russo-Japanese War, and became the US vice consul in Seoul in 1905. By utilizing a number of images from the Willard Dickerman Straight Papers of Cornell University Library’s Division of Rare and Manuscript Collections, and by referring to other relevant sources of/about Straight, this essay presents a textual analysis and comprehensive visual reading about the country which Straight observed in a very crucial transition period in global history. It provides a glimpse at the perspective of an early twentieth-century American diplomat, eyewitness, photographer, and writer on the cultural, industrial, and technological transformations that Korea experienced in the early 1900s as a consequence of its interaction with major world powers.

A FLASH OF CONSTRUCTION SCHEMES COLLECTIVE IN THE CLASSROOM INVOLVING THE FIELD STRUCTURAL MOLECULAR

2015 ◽  
Author(s):  
Marcelo Gouveia Nascimento ◽  
◽  
Gabriel Nicolas Garcia Alves ◽  
Marco Antonio Bueno Filho ◽  
Rodrigo Luiz Oliveira Rodrigues Cunha ◽  
...  
Keyword(s):  
College Students ◽  
Liquid Chromatography ◽  
Key Words ◽  
Textual Analysis ◽  
Molecular Level ◽  
Chemical Bonds ◽  
Bachelor Degree ◽  
Access Information ◽  
Conceptual Relationships ◽  
Collective Construction

This study aims to access information about how college students collectively build action schemes in structural molecular level. The research had two situations presented to six students and Bachelor Degree in Chemistry from the Federal University of ABC involving content on Liquid Chromatography. The speeches of students organized in groups were recorded in audiovisual and subjected to Textual Analysis Discourse and grounded in the theory of Conceptual Fields (Vergnaud, 1996). The results were assessed, evidence of the collective construction of a scheme characterized by relevant conceptual relationships at the molecular structural field, but incomplete. Key words: theory of conceptual fields, collective schemes, chemical bonds.

scholarly journals Using Medline to achieve an evidence-based approach to diagnostic clinical biochemistry

2002 ◽  
Vol 39 (4) ◽  
pp. 345-350 ◽  
Author(s):  
Andrew M Fielding ◽  
Anne Powell
Keyword(s):  
Key Words ◽  
Literature Search ◽  
Clinical Biochemistry ◽  
Evidence Based ◽  
Search Technique ◽  
National Library ◽  
Mesh Terms ◽  
The Us ◽  
Minimum Number ◽  
Structured Approach

Medline is the US National Library of Medicine database that is used for searching the medical biochemistry literature. The database is structured using medical subject subheadings (MeSH terms) to classify the content of references; indexing is done manually using MeSH terms as key words. Searching the database effectively means finding the maximum number of relevant references together with the minimum number of irrelevant ones. This article is aimed at explaining the limitations of Medline and suggesting some solutions to key problems. The goal is that users can improve their literature search technique by employing a structured approach. As usual, asking relevant questions before starting a search is essential.

scholarly journals The Advent of Ambedkar in the Sphere of Indian Women Question

2020 ◽  
Vol 1 (2) ◽  
pp. 17-30
Author(s):  
Poonam Singh
Keyword(s):  
Key Words ◽  
Textual Analysis ◽  
Focal Point ◽  
Research Paper ◽  
Legal Rights ◽  
Indian Women ◽  
Close Textual Analysis ◽  
Dalit Women ◽  
And Gender ◽  
Archival Study

The paper attempts to project Bhim Rao Ambedkar as one of the foremost liberal feminists who advocated for Hindu women’s legal rights through the constitutional provisions listed in the Hindu Code Bill. He proposed four major stipulations, “one change is that, the widow, the daughter, the widow of predeceased-son. All are given the same rank as the son in the matter of inheritance. In addition to that, the daughter is also given a share in her father’s property: her share is prescribed as half of that of the son.”[1] To contemplate the predicament and marginalized position of Indian women, Ambedkar posited that caste and gender are intertwined. The imposition of endogamy was made compulsory by Brahaminical hierarchy which eulogized by Hindu religious scriptures to ensure sustained subjectivity of women, which eventually depreciated the egalitarian position of women. The focal point of the research paper remains a close textual analysis of Ambedkarite canon with archival study and genealogical examination contouring the discourse. The paper also encompasses potent reasons to establish the differences between the marginalization of upper-caste women and Dalit women. Difference between them is maintained by the ‘graded inequality.’ After having observed such differences, the paper intends to extend the idea that Ambedkar worked as a socio-political champion for Dalit women and Indian women concomitantly. To guarantee the freedom, equality, and individuality of Indian women, Ambedkar resorted to legalized mechanism and constitutional provisions. Key Words: Ambedkar, Hindu Code Bill, Manusmriti, Indian Women, Dalit Women, Indian Feminism, Caste, Patriarchy

scholarly journals Recapturing the Meaning of Akhlāq Islāmiyyah: An Analysis of the Article “Akhlak” in the Encyclopedia of Islam

2018 ◽  
pp. 21-39
Author(s):  
Amilah binti Awang Abd Rahman
Keyword(s):  
Key Words ◽  
Qualitative Methodology ◽  
Textual Analysis ◽  
Comparative Method ◽  
Ethical Thought ◽  
Practical Ethics ◽  
Key Words Ethics ◽  
Islamic Thought ◽  
History Of

Abstract This paper will analytically study the Islamic meaning of akhlaq as portrayed by two Western writers in the article entitled “Akhlak” published in the Encyclopedia of Islam. The author highlights the contribution of Western scholars especially Walzer and Gibb to the understanding of history of the development of Islamic thought and disciplines. By employing the qualitative methodology, the author uses textual analysis and comparative method on the writings of both thinkers and others.  Findings indicate that there are several weaknesses in the writing that include limiting the scope of akhlaq to practical ethics of selected virtues, the lacking of clear detachment between akhlaq and ethical thought, and others.  Key words: Ethics, Akhlaq, Philosophy, Islam, Encyclopedia of Islam.

Firm Use of Cybersecurity Risk Disclosure

2021 ◽  
Author(s):  
Wanying Jiang ◽  
Joseph Legoria ◽  
Kenneth Reichelt ◽  
Stephanie Walton
Keyword(s):  
Risk Factors ◽  
Information Asymmetry ◽  
Response Behavior ◽  
Risk Disclosure ◽  
Market Reactions ◽  
External Stakeholders ◽  
Risk Disclosures

Increasingly, firms are subject to rising cybersecurity risks. One way that firms can communicate cybersecurity uncertainty and reduce information asymmetry with external stakeholders is through cybersecurity risk disclosures. SEC (2011, 2018) guidance encourages the disclosure of significant cybersecurity risk factors. However, not all firms provide informative or quality disclosures following a cybersecurity breach event. In this study, we examine the firm use of cybersecurity risk disclosures after a cybersecurity breach. We find that not all breached firms alter their cybersecurity disclosure behavior similarly following a breach. Rather, firm prior breach experience and breach-related market reactions impact the provision of additional cybersecurity disclosures. Our study provides initial evidence on when firms provide additional cybersecurity disclosures post-breach and informs regulators and policymakers on how firms utilize cybersecurity risk disclosures as a response behavior.

scholarly journals Investigating risk disclosures in Italian integrated reports

2020 ◽  
Vol 28 (6) ◽  
pp. 1149-1178 ◽  
Author(s):  
James Guthrie ◽  
Francesca Manes Rossi ◽  
Rebecca Levy Orelli ◽  
Giuseppe Nicolò
Keyword(s):  
Content Analysis ◽  
Financial Reporting ◽  
Design Methodology ◽  
Alternative Form ◽  
Risk Disclosure ◽  
Integrated Reporting ◽  
Content Type ◽  
Risk Disclosures ◽  
Do So

Purpose The paper identifies the types of risks disclosed by Italian organisations using integrated reporting (IR). This paper aims to understand the level and features of risk disclosure with the adoption of IR. Design/methodology/approach The authors use risk classifications already provided in the literature to develop a content analysis of Italian organisations’ integrated reports published. Findings The content analysis reveals that most of the Italian organisations incorporate many types of risk disclosure into their integrated reports. Organisations use this alternative form of reporting to communicate risk differently from how they disclose risks in traditional annual financial reporting. That is, the study finds that the organisations use their integrated reports to disclose a broader group of risks, related to the environment and society, and do so using narrative and visual representation. Originality/value The paper contributes to a narrow stream of research investigating risk disclosure provided through IR, contributing to the understanding of the role of IR in representing an organisational risk.

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