Vol. 16 No. 33 (2021)

Artículos

Impact on the price of bank shares due to the cyber-attack on the SPEI

Published 2021-06-20 — Updated on 2021-06-21

  • Sergio Rodolfo Góngora Jiménez
    • ,
  • Humberto Banda-Ortiz

Sergio Rodolfo Góngora Jiménez
Autonomous University of Queretaro image/svg+xml

Humberto Banda-Ortiz
Autonomous University of Queretaro image/svg+xml

Abstract

During 2018, a group of successful cyber-attacks on some banks demonstrated the risk to which they are exposed. The target of this article is to identify the economic impact on the price of bank shares due to the cyber-attack on the Mexican interbank payment system (SPEI). The importance in economic terms of the interbank electronic payment system has made it an objective for cybercriminals. The methodology used uses different financial indicators commonly used to assess risk reflect the economic impact on the price of the shares of the banks. The results show how the indicators Beta, Alpha, Treynor, Sharpe and VaR relate the dates of the attacks and the impact on the price of the shares. When an analysis is carried out with these indicators using a daily periodicity, it demonstrates the economic impact suffered despite the fact that some banking institutions didn’t timely disseminate the information to their shareholders.

Keywords

cybercrimes, cybersecurity, private banks, the interbank electronic payment system

PDF (Spanish)

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