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<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">esp</journal-id><journal-title-group><journal-title xml:lang="ru">Economy: strategy and practice</journal-title><trans-title-group xml:lang="en"><trans-title>Economy: strategy and practice</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">1997-9967</issn><issn pub-type="epub">2663-550X</issn><publisher><publisher-name>Институт экономики</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.51176/1997-9967-2023-4-200-219</article-id><article-id custom-type="elpub" pub-id-type="custom">esp-1193</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>БИЗНЕС И ПРЕДПРИНИМАТЕЛЬСТВО</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>BUSINESS AND ENTREPRENEURSHIP</subject></subj-group></article-categories><title-group><article-title>Влияние кибератак на рыночную стоимость компании (на примере США)</article-title><trans-title-group xml:lang="en"><trans-title>The Impact of Cybersecurity Breaches on Firm’s Market Value: the Case of the USA</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-9459-357X</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Исаева</surname><given-names>Г. К.</given-names></name><name name-style="western" xml:lang="en"><surname>Issayeva</surname><given-names>G. K.</given-names></name></name-alternatives><bio xml:lang="ru"><p>к.э.н., профессор</p><p>пр. Тауке хана 5, 160000, Шымкент</p></bio><bio xml:lang="en"><p>Gulmira K. Issayeva – Cand. Sc. (Econ.), Professor</p><p>5 Tauke Khan Ave., 160000, Shymkent</p></bio><email xlink:type="simple">gulmira_issaeva@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0001-7363-8214</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Жусипова</surname><given-names>Э. Е.</given-names></name><name name-style="western" xml:lang="en"><surname>Zhussipova</surname><given-names>E. E.</given-names></name></name-alternatives><bio xml:lang="ru"><p>PhD, старший преподаватель</p><p>пр. Тауке хана 5, 160000, Шымкент</p></bio><bio xml:lang="en"><p>Elmira E. Zhussipova – PhD, Senior Lecturer</p><p>5 Tauke Khan Ave., 160000, Shymkent</p></bio><email xlink:type="simple">elmira_zhusipova@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><contrib-id contrib-id-type="orcid">https://orcid.org/0000-0002-1907-8591</contrib-id><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Айтымбетова</surname><given-names>А. Н.</given-names></name><name name-style="western" xml:lang="en"><surname>Aitymbetova</surname><given-names>A. N.</given-names></name></name-alternatives><bio xml:lang="ru"><p>к.э.н., ассоциированный профессор, заведующая кафедрой «Финансы»</p><p>пр. Тауке хана 5, 160000, Шымкент</p></bio><bio xml:lang="en"><p>Ainura N. Aitymbetova – Cand. Sc. (Econ.), Associate Professor, Head of the Department of Finance</p><p>5 Tauke Khan Ave., 160000, Shymkent</p></bio><email xlink:type="simple">a-ainura.81@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Куралбаева</surname><given-names>А. Ш.</given-names></name><name name-style="western" xml:lang="en"><surname>Kuralbayeva</surname><given-names>A. S.</given-names></name></name-alternatives><bio xml:lang="ru"><p>д.э.н., профессор</p><p>ул. Мадели кожа 137, 160013, Шымкент</p></bio><bio xml:lang="en"><p>Alma S. Kuralbayeva – Doc. Sc. (Econ.), Professor</p><p>137 Madeli Kozha Str., 160013, Shymkent</p></bio><email xlink:type="simple">kuralbayeva.a@gmail.com</email><xref ref-type="aff" rid="aff-2"/></contrib><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Абдыкулова</surname><given-names>Д. Б.</given-names></name><name name-style="western" xml:lang="en"><surname>Abdykulova</surname><given-names>D. B.</given-names></name></name-alternatives><bio xml:lang="ru"><p>старший преподаватель</p><p>пр. Тауке хана 5, 160000, Шымкент</p></bio><bio xml:lang="en"><p>Damira B. Abdykulova – Senior Lecturer</p><p>5 Tauke Khan Ave., 160000, Shymkent</p></bio><email xlink:type="simple">dami_bax@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru">Южно-Казахстансакий университет им.М.Ауэзова<country>Казахстан</country></aff><aff xml:lang="en">M.Auezov South Kazakhstan University<country>Kazakhstan</country></aff></aff-alternatives><aff-alternatives id="aff-2"><aff xml:lang="ru">Центрально-Азиатсакий инновационный университет<country>Казахстан</country></aff><aff xml:lang="en">Central Asian Innovation University<country>Kazakhstan</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2023</year></pub-date><pub-date pub-type="epub"><day>29</day><month>01</month><year>2024</year></pub-date><volume>18</volume><issue>4</issue><fpage>200</fpage><lpage>219</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Исаева Г.К., Жусипова Э.Е., Айтымбетова А.Н., Куралбаева А.Ш., Абдыкулова Д.Б., 2024</copyright-statement><copyright-year>2024</copyright-year><copyright-holder xml:lang="ru">Исаева Г.К., Жусипова Э.Е., Айтымбетова А.Н., Куралбаева А.Ш., Абдыкулова Д.Б.</copyright-holder><copyright-holder xml:lang="en">Issayeva G.K., Zhussipova E.E., Aitymbetova A.N., Kuralbayeva A.S., Abdykulova D.B.</copyright-holder><license xml:lang="ru" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>Данная работа распространяется под лицензией Creative Commons Attribution 4.0.</license-p></license><license xml:lang="en" license-type="creative-commons-attribution" xlink:href="https://creativecommons.org/licenses/by/4.0/" xlink:type="simple"><license-p>This work is licensed under a Creative Commons Attribution 4.0 License.</license-p></license></permissions><self-uri xlink:href="https://esp.ieconom.kz/jour/article/view/1193">https://esp.ieconom.kz/jour/article/view/1193</self-uri><abstract><p>В условиях тенденций всеобщей цифровизации проблема влияния кибератак на деятельности компании является весьма актуальной. Данная статья посвящена влиянию кибератак на рыночную стоимость компаний, так как данный показатель определяет эффективность деятельности компании. Для изучения влияния кибератак на рыночные показатели фирмы в статье была использована методология исследования событий (event study). Кроме того, для изучения факторов, влияющих на величину совокупной аномальной прибыли (CAR) был применен линейный регрессионный анализ (OLS). Основной гипотезой работы является предположение, что кибератаки могут негативно влиять на совокупную аномальную прибыль (CAR), повышая явные и неявные затраты компании. Неблагоприятная реакция рынка отражается в отрицательном показателе CAR. Для проведения анализа авторы использовали данные о кибер-инцидентах фирм США с 2011 по 2020 годы, и исследовали влияние различных типов кибератак на CAR в разрезе видов отраслей и размеров предприятий. Также, был определен тип киберпреступления, который наносит больший ущерб компании. Результаты проведенного исследования подтверждают основную гипотезу исследования, и показывают, что кибератаки негативно влияют на рыночную стоимость фирм. Кроме этого, было выявлено, что негативное влияние кибератак на малые компании существенно выше, чем на крупные. Таким образом, можно сделать вывод о том, что крупные компании более финансово устойчивы по сравнению со средними и малыми компаниями во время кибератак. В результате исследования также выявлено, что финансовый ущерб от киберпреступления не зависит от вида кибератаки и от типа индустрии к которой принадлежит компания.</p></abstract><trans-abstract xml:lang="en"><p>In the context of global digitalization trends, the problem of the impact of cyberattacks on the company is significantly relevant. This article is devoted to the impact of cyberattacks on the firms’ market value since it is an indicator of firm performance. The authors used the event study methodology to study the impact of cyberattacks on the firm’s market value. In addition, linear regression analysis (OLS) was applied to study the factors influencing cumulative abnormal returns (CAR). The paper’s central hypothesis is the assumption that a cyberattack announcement is supposed to change market reaction, which is predicted to be harmful since cybercrime incidents can lead to high implicit and explicit costs. Therefore, an adverse market reaction reflects negative CAR during the event. The paper explores the effect of firm-specific and attack-specific characteristics of cyberattacks on the CAR with the data of cyberattacks for US firms from 2011 to 2020. Thus, the impact of cyberattacks on CAR by industry type and firm size was examined. Also, the type of cybercrime that is more harmful to the company was identified. The study results confirm the central hypothesis and show that cyberattacks negatively affect the firms’ market value. In addition, it was found that the market reaction to the breach is more harmful to small firms. Thus, large firms have advantages over medium and small ones in sustaining financially during cyberattacks. Additionally, the paper defines no consistent evidence that market reaction to cyberattacks depends on firm and breach types.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>экономика</kwd><kwd>практика</kwd><kwd>фирма</kwd><kwd>кибератака</kwd><kwd>кибер-инцидент</kwd><kwd>совокупная аномальная прибыль</kwd></kwd-group><kwd-group xml:lang="en"><kwd>Economy</kwd><kwd>Practice</kwd><kwd>Firm</kwd><kwd>Cyberattack</kwd><kwd>Cyber Incident</kwd><kwd>Cumulative Abnormal Returns</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Campbell, K., Gordon, L. A., Loeb, M. P., &amp; Zhou, L. (2003). 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