EFFECT OF CYBER SECURITY MEASURES ON FINANCIAL PERFORMANCE IN LISTED FOOD AND BEVERAGE COMPANIES IN NIGERIA

Abstract

This study investigates the effect of cybersecurity measures on the financial performance of listed food and beverage companies in Nigeria. The research aims to examine the relationship between cybersecurity investments and profitability, operating expenses, shareholder value, and regulatory compliance within these companies. The study adopts an ex-post facto research design, analyzing primary data collected through structured questionnaires . Multiple regression analysis was used to test the impact of cybersecurity measures on financial performance indicators. The results reveal that cybersecurity measures and regulatory compliance positively and significantly enhance financial performance, while cybersecurity investments also improve shareholder value. However, cybersecurity breaches, though negatively correlated, do not have a statistically significant impact on financial performance. The study concludes that investing in robust cybersecurity frameworks and adhering to regulations is critical for financial sustainability in Nigeria's food and beverage sector. This research contributes to knowledge by providing empirical evidence on the positive impact of cybersecurity on financial performance, highlighting the importance of proactive cybersecurity strategies. The findings serve as a valuable resource for policymakers and industry practitioners aiming to improve financial resilience through better cybersecurity practices. Recommendations include strengthening cybersecurity investments and ensuring full regulatory compliance to protect and enhance financial performance.