경영정보학연구 (Information Systems Review)

  • 제26권3호
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  • Pages.241-259
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  • 2024
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  • 2982-6551(pISSN)
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  • 2982-6837(eISSN)
한국경영정보학회 (The Korea Society of Management Information Systems)
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개인정보 유출 사건에 대한 대중의 반응 연구: 주가와 댓글을 통한 탐색적 분석

People's Reactions to Data Breach Incidents: An Exploratory Study on Stock Price and News Comments

  • 한민수 (중앙대학교 경영경제대학 산업보안학과) ;
  • 민진영 (중앙대학교 경영경제대학 산업보안학과)
  • Minsoo Han (Department of Industrial Security, College of Business & Economics, Chung-Ang University) ;
  • Jinyoung Min (Department of Industrial Security, College of Business & Economics, Chung-Ang University)
  • 투고 : 2024.06.29
  • 심사 : 2024.07.08
  • 발행 : 2024.08.31
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초록

디지털 서비스의 확장으로 개인정보 유출 사건이 증가하면서 이러한 사건이 기업에 미치는 부정적인 영향에 대한 연구들이 증가하고 있다. 그러나 대부분의 기존 연구들은 주로 주가 하락, 당기 순이익 하락 등의 재정적 결과에만 초점을 맞추거나 특정 사례 연구에 국한되는 한계를 지니고 있다. 본 연구는 이러한 한계를 극복하기 위해 2010년부터 2024년 5월까지 73건의 상장기업의 개인정보 유출 사건을 대상으로 주가와 뉴스 기사 댓글을 분석하여 유출 사건이 기업에 미치는 재정적 결과와 감정 분석을 통한 사람들의 반응을 연결하여 탐색하였다. 분석 결과, 개인정보 유출은 주가에 단기적으로 유의미한 하락을 초래하며, 이러한 영향은 발표 후 최대 이틀 동안 지속되는 것으로 나타났다. 감정 분석 결과 '혐오'와 '놀람'의 감정이 주가 하락에 상당한 부정적 영향을 미치는 것으로 밝혀졌으며, 유출 원인은 주가 하락의 정도에는 유의미한 영향이 없는 것으로 나타났다. 또한, 72건의 비상장법인 유출 사건을 추가로 분석한 결과 상장 법인과 비상장 법인 모두에서 개인정보 유출 사건에 대한 사람들의 부정적 감정 정도는 유사하게 나타나, 법인의 시장 지위와 상관없이 대중의 우려 수준이 일관되게 높다는 것을 보여주었다.

The expansion of digital services has led to increased personal data breaches, prompting research into their negative impacts on companies. However, most existing studies focus on financial outcomes, such as stock price declines and net income drops, or are limited to specific case studies. This study attempts to address these limitations by examining 73 data breach incidents from 2010 to May 2024, linking financial outcomes of stock prices with public reactions from news article comments through sentiment analysis. The analysis reveals that data breaches cause significant short-term stock price drops, lasting up to two days post-announcement. Sentiment analysis shows that emotions of 'disgust' and 'surprise' significantly negatively impact stock prices, while the cause of the breach does not significantly affect the extent of the decline. Additionally, through the analysis of the 72 incidents about unlisted companies, public sentiment towards data breaches is similarly intense for both listed and unlisted companies, indicating consistently high levels of public concern regardless of a company's market status.

키워드

과제정보

이논문은 2019년 대한민국 교육부와 한국연구재단의 지원을 받아 수행된 연구임(NRF-2019S1A5A2A03041910).

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