149 research outputs found
Investigating the impact of publicly announced information security breaches on corporate risk factor disclosure tendencies
As the reported number of data breaches increase and senators push for more disclosure regulation, the SEC staff issued a guidance in 2011 on disclosure obligations relating to cybersecurity risks and incidents. More recently, on February 26, 2018 the SEC Commission issued interpretive guidance to help assist public companies prepare disclosures regarding cybersecurity risks and incidents. As reported incidents of cybersecurity breaches occur, investors are concerned about the risks associated with these incidents and the impact they may have on financial performance. Although the SEC staff guidance warns public companies to make timely disclosure, recognizing the threat that cybercrime poses to investors in the public markets, it does not go far enough to institute direct measures that would compel companies to reveal the nature and scope of a cybersecurity breach.
In light of the lack of specific guidance on cybersecurity disclosure, the aim of this study is to develop a better understanding of the cybersecurity disclosure landscape. The purpose of this study is phenomenological in nature, designed to assess the impact of the 2011 SEC staff guidance on the disclosure of cybersecurity risk factors and provide recommendations for future research following the 2018 SEC Commission’s interpretive guidance. This study analyzes the impact of the SEC guidance by investigating risk factor disclosures both before and after the SEC’s 2011 issuance date. We pay particular attention to organizations that have suffered a data breach, as determined by the Privacy Rights Clearinghouse (PRC). The study uses companies listed on the S&P 500.
Results show that there has been a 23 percent increase in the number of firms referencing cybersecurity in the Risk Factor section of the 10-K and that factors such as the size of the firm, prior reported breaches and breach type were predictors of disclosure. The study also found that there is a tendency not to disclose reported breaches in the narrative of the 10-K and that the cybersecurity risk factor disclosures do not include details on actual breaches. The underreporting of cyber incidents may be in part be the result of alternative interpretations of what constitutes a “material” breach. This study should be of interest to the SEC, in particular, as they continue to evaluate cybersecurity guidance in terms of its implementation by corporate filers and as they move toward a cybersecurity disclosure regulation. In addition, as the SEC continues to scrutinize cybersecurity incident disclosures and issue comment letters to public companies with inadequate disclosures, it should be of interest to corporate filers, as well as to investors, analysts and other professionals that are concerned with the informativeness of corporate cybersecurity disclosures particularly as they affect profits
Study of ultrathin Pt/Co/Pt trilayers modified by nanosecond XUV pulses from laser-driven plasma source
We have studied the structural mechanisms responsible for the magnetic reorientation between in-plane and out-of-plane magnetization in the (25 nm Pt)/(3 and 10 nm Co)/(3 nm Pt) trilayer systems irradiated with nanosecond XUV pulses generated with laser-driven gas-puff target plasma source of a narrow continuous spectrum peaked at wavelength of 11 nm. The thickness of individual layers, their density, chemical composition and irradiation-induced lateral strain were deduced from symmetric and asymmetric X-ray diffraction (XRD) patterns, grazing-incidence X-ray reflectometry (GIXR), grazing incidence X-ray fluorescence (GIXRF), extended X-ray absorption fine structure (EXAFS) and transmission electron microscopy (TEM) measurements. In the as grown samples we found, that the Pt buffer layers are relaxed and that the layer interfaces are sharp. As a result of a quasi-uniform irradiation of the samples, the XRD, EXAFS, GIXR and GIXRF data reveal the formation of two distinct layers composed of Pt1-xCox alloys with different Co concentrations, dependent on the thickness of the as grown magnetic Co film but with similar ∼1% lateral tensile residual strain. For smaller exposure dose (lower number of accumulated pulses) only partial interdiffusion at the interfaces takes place with the formation of a tri-layer composed of Co-Pt alloy sandwiched between thinned Pt layers, as revealed by TEM. The structural modifications are accompanied by magnetization changes, evidenced by means of magneto-optical microscopy. The difference in magnetic properties of the irradiated samples can be related to their modification in Pt1-xCox alloy composition, as the other parameters (lateral strain and alloy thickness) remain almost unchanged. The out-of-plane magnetization observed for the sample with initially 3 nm Co layer can be due to a significant reduction of demagnetization factor resulting from a lower Co concentration
Transformation of a lowland river from a meandering and multi-channel pattern into an artificial canal: retracing a path of river channel changes (the Middle Obra River, W Poland)
Costs and incomes of agriculture enterprises
Przedstawiono sytuację ekonomiczną reprezentatywnej części gospodarstw rolnych uczestniczących w Polskim FADN, po wstąpieniu Polski do Unii Europejskiej. Badania obejmują analizę ponoszonych kosztów i osiąganych dochodów przez gospodarstwa w latach 2006-2008. Otrzymane wyniki wykazały, że wszystkie obliczone kategorie kosztów z roku na rok wzrastały. Uzyskana natomiast wartość produkcji wahała się, nie dotrzymując tempa wzrostu ponoszonym kosztom. Wobec powyższego osiągane przez gospodarstwa dochody nie dorównywały wynagrodzeniom netto w gospodarce narodowej.The paper presents an economic situation of chosen representative agriculture enterprises that took part in Polish PADN after Poland accessed EU. The research includes the analysis of costs and incomes of farms in years 2006-2008. The results indicate that all calculated categories of costs were gradually increasing, whereas the value of production did not catch up with the rate of costs growth. Thus, the income gained by agriculture enterprises was lower compared to net income in national economy
X-Ray Study of Synthetic Alunite
Synthetic alunite was obtained by two different synthesis methods. Powder data obtained with a standard Bragg-Brentano geometry of two analyzed samples are reported for a broad angular range. The chemical analysis as well as the unit-cell dimensions indicate that the analyzed alunite is K and Al deficient and contains excess water. A need for high resolution diffraction experiments is expressed
Stress measurements for rock mass stability estimation
W pracy przedstawiono doświadczenia uzyskane na obszarze KWB "Bełchatów" w zakresie pomiarów naprężeń w górotworze. Przedstawiono sposób prowadzenia pomiarów, omówiono przykładowe wyniki i wskazano możliwości ich praktycznego wykorzystania.The report presents experiences acquired in the Bełchatów brown coal mine in the field of measurements of stress in the rock mass. It describes the way of handling measurements. Certain exemplary results were presented together with possibilities of their practical usage
MBE Growth of YbTe on GaAs(100) and BaF(111) Substrates
The structural properties of MBE grown YbTe layers were investigated by X-ray diffraction methods and photoluminescence measurements. YbTe films were grown on the ZnTe and CdTe buffer layers crystallised on the GaAs(100) 2° off oriented substrates and on the BaF(100) substrates. In the case of GaAs substrates the two-dimensional growth mode of YbTe was observed on reflection high energy electron diffraction picture. Results of the X-ray rocking curve and photoluminescence excitation measurements indicate that the structural properties of YbTe films are comparable to the properties of the MBE grown ZnTe and CdTe layers on the GaAs(100) substrates. The measured values of the YbTe lattice constant parallel and perpendicular to the growth plane show that the 1 μm thick layers are partially strained. The full width at half maximum values of the X-ray rocking curves are the smallest (900 arc seconds) for the YbTe films crystallised on the 2 μm thick CdTe bucher layer grown on the GaAs(100) substrate. In the case of BaF(111) substrate the two-dimensional MBE growth mode of YbTe was not observed
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