《保险研究》20240401-《网络安全意识、网络风险管理和企业价值》（田玲、崔靖茹、王正文）

［摘   要］信息技术的快速发展在为企业带来机遇的同时，也带来了网络安全风险，对这一风险的管理和防控对企业发展愈发重要。在此背景下，本文首次以中国上市企业为研究对象，分析中国企业网络风险管理的实施情况，利用2012~2022年中国A股上市企业的年度报告，采用文本分析法构建了网络安全意识得分和网络风险管理指标，并实证评估实施网络风险管理的影响因素和价值关联。研究发现，无论哪个行业，网络安全意识得分都在不断增强，实施网络风险管理的企业数量不断增加，实施网络风险管理与企业价值之间存在显著的正相关关系。本文首次研究了网络风险管理在中国的实施情况，弥补了国际上对该领域的区域研究空白，并深入探讨了企业实施网络风险管理影响企业价值的作用机制，对于完善企业网络风险管理、进一步规范企业全面风险管理并提升企业价值具有重要的指导意义。

［关键词］网络安全；网络安全意识；网络风险管理；企业价值；文本分析

［基金项目］本文获国家社会科学基金重大项目(23&ZD068)的资助。

［作者简介］田玲，武汉大学经济与管理学院教授、博士生导师，武汉大学宁波国家保险发展研究院院长；崔靖茹，武汉大学经济与管理学院博士研究生，武汉大学宁波国家保险发展研究院研究助理；王正文（通讯作者），武汉大学经济与管理学院副教授、硕士生导师，武汉大学宁波国家保险发展研究院研究员。

Cybersecurity Awareness,Cyber Risk Management and Enterprise Value

TIAN Ling,CUI Jing-ru,WANG Zheng-wen

Abstract：The rapid development of information technology presents opportunities for businesses but also brings about  various cybersecurity risks.Managing and controlling network risks has become more and more important for enterprises.Against this backdrop,this paper,for the first time,focuses on Chinese listed companies to analyze the implementation of network risk management in Chinese enterprises.Utilizing annual reports of A-share listed companies in China from 2012 to 2022,the study employs text analysis to construct scores for cybersecurity awareness and network risk management indicators.It empirically assesses the influencing factors and value associations of implementing network risk management.The research reveals that,across industries,cybersecurity awareness scores are being continually strengthened,and the number of enterprises implementing network risk management is increasing.There is a significant positive correlation between the implementation of network risk management and enterprise value.This paper,by investigating the implementation of network risk management in China,and elaborating on the working mechanism for enhancing corporate value through the implementation of network risk management,fills a gap in international regional studies in this field.It holds significant guiding implications for refining enterprise network risk management,further standardizing comprehensive enterprise risk management,and enhancing corporate value.

Key words：cyber security;cybersecurity awareness;cyber risk management;enterprise value;text analysis