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Lookup NU author(s): Professor Marwa ElnahassORCiD, Dr Yousry AhmedORCiD, Dr Vu TrinhORCiD
This work is licensed under a Creative Commons Attribution 4.0 International License (CC BY 4.0).
This study investigates the impact of gender diversity (i.e., the presence of female executives on corporate boards) on the sentiment of cybersecurity information disclosure, including its likelihood, magnitude, and tone. We develop a unique dataset providing an extensive view of the development and evolution of cybersecurity-related disclosure practices among prominent publicly traded US companies over a 19-year period (2002–2020). We find strong evidence that female executives are more likely to disclose, and they report significantly more cybersecurity-related information compared to their male counterparts. Additionally, female executives adopt a more conservative, uncertain, and litigious tone in their cybersecurity disclosures than male executives. The results also support the notion of a critical mass of female executives on the board and align with various theories, emphasising the importance of gender diversity in promoting high-quality cybersecurity disclosure practices within firms. Furthermore, we examine several channels contributing to the heterogeneity of cybersecurity disclosures between female and male executives, and consider the effects of the black swan events (i.e., the financial crisis and the COVID-19 pandemic).
Author(s): Elnahass M, Ahmed Y, Trinh VQ
Publication type: Article
Publication status: Published
Journal: International Journal of Finance and Economics
Year: 2025
Volume: 30
Issue: 4
Pages: 3368-3394
Print publication date: 01/10/2025
Online publication date: 12/11/2024
Acceptance date: 15/10/2024
Date deposited: 31/10/2024
ISSN (print): 1076-9307
ISSN (electronic): 1099-1158
Publisher: John Wiley & Sons Ltd.
URL: https://doi.org/10.1002/ijfe.3067
DOI: 10.1002/ijfe.3067
Data Access Statement: The data that support the findings of this study are available on request from the corresponding author. The data are not publicly available due to privacy or ethical restrictions.
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