The Impact of Cyber-Attacks on the Expected Profitability, Risk and Market Value of Target Companies: Evidence from European Listed Companies. Seminar on Tuesday, May 21th, 2024

Alex Frino - Prof. at Florida Polytechnic University (United States of America). The seminar is reserved to Department of Management.

  • Date: 21 May 2024 from 13:00 to 14:00

  • Event location: On line (Teams) and live in Aula Seminari 1, via Capo di Lucca 34, Bologna

This study examines the effects of cyber-attacks on the expected profitability, risk, and market value of companies, focusing on those listed on Europe’s three largest stock exchanges. The findings reveal a stock price decline following announcements of cyber-attacks, similar to patterns observed in U.S. markets.

Additionally, we present new evidence of increased risk and decreased expected profitability for the affected companies. These results suggest that the observed reduction in firm market value stems both from decreased expected future cashflows and heightened perceived risk of these cashflows.
This seminar promises to be an invaluable session for understanding the financial repercussions of cyber-attacks.
Please join us in Seminar Room#1 or via Teams to engage with Prof. Frino's groundbreaking research.

Alex Frino is currently Fulbright Fellow at Florida Polytechnic University and Visiting Professor at the Universita’ degli Studi di Napoli Parthenope.

He has held chairs in finance at Sydney University, Macquarie University and Wollongong University.  Alex also holds postgraduate degrees in finance from Sydney and Cambridge Universities.

Professor Frino was awarded two Fulbright Senior Scholar awards in 2005 and 2023 and has held visiting positions at many global universities including Cambridge University, Georgetown University, University of Canterbury, Federico II and Florida Polytechnic University.

He has published over 100 papers in leading scientific journals with over two-thirds in ABDC A and A* journals typically focussing on the impact of technology on markets, particularly financial and derivative markets.

In a survey of scholars in his field, he was identified amongst the 150 most prolific researchers in the half century to 2008.[1]  Professor Frino was also recognised amongst the 3 most published authors in Journal of Futures Markets over 40 years to 2021.[2] 

Professor Frino has acted as an expert witness in more than 20 cases in the Australian Courts and has been retained by major Australian companies including PWC, NAB, Western Mining Corporation, ASX and GPT typically in litigation disputing the economics of information.   Professor Frino has mainstream media citations since 2010 of approximately 50-100 per annum including TV, radio and mainstream press.

The seminar will be held in English.

Major information: Eleonora Monaco (