| I | II | III | IV |
Upstream breach | 0.0343*** | 0.0352*** | ||
(0.01) | (0.01) | |||
Downstream breach | 0.0190*** | 0.0184*** | ||
(0.00) | (0.00) | |||
Overall IT budget | −2.47e-06*** | −2.44e-06*** | ||
(0.00) | (0.00) | |||
Comm budget | −0.0000701 | −0.0000869 | ||
(0.00) | (0.00) | |||
Hardware budget | −0.000098 | −0.0000825 | ||
(0.00) | (0.00) | |||
Services budget | −2.51e-05* | −0.0000194 | ||
(0.00) | (0.00) | |||
Software budget | 3.49e-05* | 0.00003 | ||
(0.00) | (0.00) | |||
Storage budget | 0.00173*** | 0.00154*** | ||
(0.00) | (0.00) | |||
Software vendors | 0.0699*** | 0.0698*** | 0.0717*** | 0.0716*** |
(0.01) | (0.01) | (0.01) | (0.01) | |
Std dev of site IT budget | 0.0536** | 0.0644*** | 0.0489** | 0.0588*** |
(0.02) | (0.02) | (0.02) | (0.02) | |
ROE | −0.00257 | −0.00295 | −0.00199 | −0.00221 |
(0.02) | (0.02) | (0.02) | (0.02) | |
Sales growth | 0.617** | 0.700*** | 0.669*** | 0.749*** |
(0.25) | (0.24) | (0.24) | (0.24) | |
Liquidity | −0.153** | −0.154** | −0.134* | −0.136* |
(0.08) | (0.07) | (0.07) | (0.07) | |
Debt/Equity ratio | 0.00254 | 0.00272 | 0.00208 | 0.00219 |
(0.00) | (0.00) | (0.00) | (0.00) | |
Market to book ratio | 0.000288 | 0.000207 | 0.000474 | 0.000415 |
(0.00) | (0.00) | (0.00) | (0.00) | |
PE ratio | 0.000429* | 0.000435* | 0.000410* | 0.000415* |
(0.00) | (0.00) | (0.00) | (0.00) | |
Market Cap | 8.54e-06*** | 8.98e-06*** | 8.25e-06*** | 8.63e-06*** |
(0.00) | (0.00) | (0.00) | (0.00) | |
Tobin’s Q | 0.0139 | 0.0147 | 0.0208 | 0.0219 |
(0.04) | (0.04) | (0.04) | (0.04) | |
Cashflow | 0.169*** | 0.159*** | 0.172*** | 0.161*** |
(0.04) | (0.04) | (0.04) | (0.04) | |
Constant | −4.508*** | −4.563*** | −4.438*** | −4.476*** |
(0.13) | (0.13) | (0.12) | (0.13) | |
R-square | 0.100 | 0.105 | 0.095 | 0.100 |
Observations | 12,543 | 12,543 | 12,543 | 12,543 |