Data Security, Data Breaches, and Compliance

Cambridge Handbook on Compliance (D. Daniel Sokol & Benjamin van Rooij editors, Cambridge University Press, Forthcoming)

17 Pages Posted: 3 Dec 2019

See all articles by Chirantan Chatterjee

Chirantan Chatterjee

Indian Institute of Management, Ahmedabad

D. Daniel Sokol

University of Florida Levin College of Law

Date Written: November 17, 2019

Abstract

This chapter explores the attributes of compliance in the context of data breaches. First, it identifies the sort of corporate governance problem that data breaches create. Then, it approaches the empirical work related to data breaches and to the organization of compliance-based responses in terms of risk assessment, training and compliance, both preemptively and after a breach.

Next, the chapter discusses the extant theoretical and empirical evidence about the short and the long term impact of IT security events on breached firms as well as corporate governance issues relating to data breaches. It also examines studies that evaluate the impact of different types of events on various types of firms and stakeholders. The chapter also explores how data breaches impact broader issues of corporate governance and compliance. In the end, it identifies potential research questions and avenues for future researchers on how firms or governments might have to think about their IT security investments and the necessary measures that have to be in place to respond effectively if such events occur.

Keywords: data security, data breaches, compliance, corporate governance

JEL Classification: K10, L51

Suggested Citation

Chatterjee, Chirantan and Sokol, D. Daniel, Data Security, Data Breaches, and Compliance (November 17, 2019). Cambridge Handbook on Compliance (D. Daniel Sokol & Benjamin van Rooij editors, Cambridge University Press, Forthcoming). Available at SSRN: https://ssrn.com/abstract=3488612

Chirantan Chatterjee

Indian Institute of Management, Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat 380 015
India

HOME PAGE: http://https://www.iima.ac.in/web/faculty/faculty-profiles/chirantan-chatterjee

D. Daniel Sokol (Contact Author)

University of Florida Levin College of Law ( email )

Spessard L. Holland Law Center
P.O. Box 117625
Gainesville, FL 32611-7625
United States
(352) 273-0968 (Phone)
(352) 392-3005 (Fax)

HOME PAGE: http://www.law.ufl.edu/faculty/d-daniel-sokol

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