Companies that have advanced cybersecurity performance deliver shareholder returns that are almost four times higher than their peers, according to a new report from Diligent and Bitsight.
“These findings show that cybersecurity is not just an IT problem — it is an enterprise risk that has material impact on a company’s near-term performance and long-term health, and one that management and the board needs to be up to speed on,” said Dottie Schindlinger, Executive Director of the Diligent Institute.
Other key findings of the report include:
- 5% of companies have cybersecurity experts on their boards
- 33% of companies with advanced security performance come from the financial sector
- Average total shareholder return (TSR) for companies with advanced security performance ratings over a five-year and three-year period was 71% and 67%, respectively, while companies in the basic performance range delivered 37% and 14% TSR over the same time frames
Source:
https://www.diligentinstitute.com/report/cybersecurity-audit/
