Relationships Between Relevant Contextual Influences and Information Security Threats and Controls in Global Financial Services Industry

Businesses operating in the Global Financial Services Industry (GFSI) know the importance of protecting information assets from ever-growing security threats and risks. This paper aims at shedding light on the relationships between four relevant contextual factors i.e. national legal infrastructure, transparency levels, ethical behavior of firms, and capacity for innovation, on the one hand, and information security threats and controls, on the other. To some extent, this study enriches the information provided in the 2012 Deloitte Touche Tohmatsu Limited (DTTL) survey. This study’s findings indicated that contextual factors such as national transparency levels and ethical behavior of firms do have positive associations with, and effects on some information security threats and controls. Information provided in this study is beneficial to both practitioners and academicians.

[1]  Rajesh Chandy,et al.  Radical Innovation across Nations: The Preeminence of Corporate Culture , 2009 .

[2]  S. Vitell,et al.  The Effects of Culture on Ethical Decision-Making: An Application of Hofstede's Typology , 1993 .

[3]  Ahmet H. Kirca,et al.  Firm Innovativeness and Its Performance Outcomes: A Meta-Analytic Review and Theoretical Integration , 2012 .

[4]  Derek Schatz.  Setting Priorities in Your Security Program , 2008 .

[5]  Quey-Jen Yeh,et al.  On security preparations against possible IS threats across industries , 2006, Inf. Manag. Comput. Secur..

[6]  Charlie C. Chen,et al.  A cross-cultural investigation of situational information security awareness programs , 2008, Inf. Manag. Comput. Secur..

[7]  H. Jeff Smith,et al.  Values, personal information privacy, and regulatory approaches , 1995, CACM.

[8]  Folarin Akinbami,et al.  The Role of Trust in Maintaining the Resilience of Financial Markets , 2011 .

[9]  Paul A. Fadil,et al.  Ethical Decision Making in Multinational Organizations: A Culture-Based Model , 1999 .

[10]  Erlend W. Nier.  Bank stability and transparency , 2005 .

[11]  Isabelle Maignan,et al.  Consumers' Perceptions of Corporate Social Responsibilities: A Cross-Cultural Comparison , 2001 .

[12]  Khawaja Amjad Saeed.  Transparency International Corruption Perceptions Index 2007 , 2009 .

[13]  Kenneth L. Kraemer,et al.  Rule of law and the international diffusion of e-commerce , 2005, CACM.

[14]  Kallol Kumar Bagchi,et al.  Global software piracy , 2006, Commun. ACM.

[15]  Diego Comin,et al.  An Exploration of Technology Diffusion , 2006 .

[16]  Dan Awrey,et al.  Complexity, Innovation and the Regulation of Modern Financial Markets , 2011 .

[17]  Fariborz Moshirian.  Global Financial Services and a Global Single Currency , 2007 .

[18]  Kenneth L. Kraemer,et al.  The Process of Innovation Assimilation by Firms in Different Countries: A Technology Diffusion Perspective on E-Business , 2006, Manag. Sci..

[19]  Diane M. Martin,et al.  Corporate Social Responsibility in the 21st Century: A View from the World's Most Successful Firms , 2003 .

[20]  P. Lawrence,et al.  Organization and environment , 1967 .

[21]  Elsevier Sdol.  Journal of Financial Stability , 2009 .

[22]  Michel Kalika,et al.  Adopting an ICT code of conduct: An empirical study of organizational factors , 2007, J. Enterp. Inf. Manag..

[23]  Sandra J. Milberg,et al.  Information Privacy: Corporate Management and National Regulation , 2000 .

[24]  Jaime R. Marquez,et al.  International Comparisons of Productivity Growth : The Role of Information Technology and Regulatory Practices , 2002 .

[25]  Princely Ifinedo,et al.  Information technology security management concerns in global financial services institutions: Is national culture a differentiator? , 2009, Inf. Manag. Comput. Secur..

[26]  Panos Delimatsis,et al.  Transparent Financial Innovation in a Post-Crisis Environment , 2012 .

[27]  Xianggui Qu,et al.  Multivariate Data Analysis , 2007, Technometrics.

[28]  Zlatko J. Kovacic,et al.  A Brave New E-World? An Exploratory Analysis of Worldwide E-Government Readiness, Level of Democracy, Corruption and Globalization , 2005, Int. J. Electron. Gov. Res..

[29]  Princely Ifinedo.  Information Technology Security Concerns in Global Financial Services Institutions: Do Socio-Economic Factors Differentiate Perceptions? , 2009, Int. J. Inf. Secur. Priv..