Cybersecurity Disclosure Regulations and Non‑GAAP Earnings: Evidence from Data Breach Disclosure Law

This paper examines the impact of #databreach #disclosure laws (DBDL) on companies' voluntary #financial disclosure behaviors. The authors use a difference‑in‑differences analysis to show that firms have a higher propensity of disclosing non‑#gaap earnings after the adoption of DBDL, suggesting that such mandatory disclosure #regulation on #cybersecurity stimulates firms' voluntary disclosure of non‑GAAP earnings.