개인정보 유출이 기업의 주가에 미치는 영향

These days the personal information leakage is socially a big issue. It brings about severe damage to business companies such as the downgrade of credit rating and financial loss. Hence, a public announcement related to the leakage of personal information adversely influences the stock value of a company. This study analyzes how such announcement affects the stock price with the listed companies of Korea and China from the event study methodology. Compared to previous study in relation to the personal information leakage, Korean companies has similar result(negative effect) whereas Chinese companies has no effect on firm value. This result means that Chinese is relatively less concerned about the personal information than Korean and China is required to legislate the relevant law to control companies occurring such events.