Firms often disclose information security risk factors in public filings such as 10-K reports. The internal information associated with disclosures may be positive or negative. In this paper, we are interested in evaluating how the nature of security risk factors disclosed, which is believed to represent the internal information regarding information security, is associated with future breach announcements. For this purpose, we build a decision tree model, which classifies the occurrence of future security breaches based on the textual contents of the disclosed security risk factors. The model is able to accurately associate disclosure characteristics with breach announcements about 77 % of the time. We further explore the contents of the security risk factors using text mining techniques to provide a richer interpretation of the results. The results show that the security risk factors with action-oriented terms and phrases are less likely to be related to future incidents. We also conduct a cross-sectional analysis to study how the market interprets the nature of information security risk factors in annual reports at different time points. We find that the market reaction following the security breach announcement is different

This paper offers a refined conceptualization of consensus formation and demonstrates in three organizations how this conceptualization enables us to uncover new patterns of consensus building. It describes a longitudinal study which investigated consensus formation in three organizations undergoing major strategic change. The study explored whether consensus building occurred during the strategic change, and if so, how. Initial participants of consensus were also investigated as well as changes in the scope of participants in consensus. Consensus building did occur, but contrary to some views, less through an increase in the strength of consensus and more through an increase in the scope of consensus. Additionally, initial consensus was not located among members of the top management team, but more within an interest group whose members benefited from the given direction of the change.

Attribution theory has been used to explain various social psychological phenomena such as achievement, sex stereotyping, and the impact of reward on behavior. But the direct application of the theory to entrepreneurship is rarely made. This study tests for the existence of this selfserving attribution bias among entrepreneurs when they enumerate the factors that contribute to or impede their business success. Two samples of entrepreneurs, one of independent pharmacists and the other a broadly based sample of business owners, confirm this prediction. To test for differences between actors and observers, which is another dimension of attribution theory, the responses of the entrepreneurs are compared to those of a group of experts who are not business owners. Clear differences are shown between the entrepreneurs and the experts, confirming the Discovering which factors lead to business success and which lead to failure is a primary, and as yet unfulfilled, purpose of business research. How great it would be if business educators could give their students a list of key factors, which would ensure business success or avoid business failure! As any business educator knows, this list is a long way from being written. A first step

We thank Jan Barton, Jay Koehler, and Greg Waymire for helpful comments and suggestions. Using Psychology Theories in Archival

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