Economic assessment of cyber threat risks for digital business models

Abstract

The implementation of innovative business models significantly increases enterprise efficiency; however, their growing IT dependence generates new risks that can cause significant economic losses. The article aims to examine the specifics of the economic assessment of cyber risks in the context of digital business models and to determine their actual economic impact on enterprise activities. Methods. The study used methods of critical analysis of scientific sources, synthesis, systematization, and abstraction to identify key approaches to the economic assessment of cyber risks, classify threat types, and establish their economic impact on digital business models. Results. It was found that digitalization significantly increases the efficiency of business processes, enabling faster information exchange and the automation of operations. Still, it also increases companies' vulnerability to cyberattacks as their reliance on IT infrastructure and digital assets grows. The importance of using a comprehensive approach to cyber risk assessment, combining quantitative, probabilistic, and expert methods to consider both the technical characteristics of threats and the context of business processes, is emphasized. It is shown that the use of expected loss models, FAIR, stochastic, and hybrid approaches allows not only to transform technical threats into financial metrics, but also to determine probable scenarios of economic losses, compare alternative risks, and prioritize investments in cyber protection measures. In addition, integrating these approaches contributes to more accurate security budget planning, increases operational resilience, and supports informed decision-making on financing residual risks, including through insurance mechanisms. Conclusions. It has been established that the economic assessment of cyber risks is a key tool for the strategic management of digital business models, ensuring sustainability, efficient resource allocation, and supporting regulatory compliance in the face of growing cyber threats.