Determinants of Cyberattack Prevention in UAE Financial Organizations: Assessing the Mediating Role of Cybersecurity Leadership

Abstract

Cyberattack prevention factors have a significant impact on the perception of social and moral values in the business context. Despite leaders’ significant role in encouraging and enculturating cybersecurity practices in their organizations, there is a noticeable gap in the literature to highlight empirically how leaders and top management in organizations foster organizational cybersecurity. Therefore, this study aims to explore the role of cybersecurity leadership in financial organizations in preventing cyberattacks and investigate other human and non-technical factors related to the individual in financial organizations. Based on Protection Motivation Theory (PMT), the research framework was developed with the tallying of new variables focusing on the role of an organization’s cybersecurity leadership, training frequency, and the role of government frequent alerting. This research employed a quantitative research method. The data were collected through a questionnaire from 310 financial executive officers from selected banks in UAE that use digital technology to enhance their daily banking operations. Using Structural Equation Modelling (SEM), the results indicated (1) a significant association between all investigated independent variables and cybersecurity leadership through hypothesis (H8–H14); (2) cybersecurity leadership mediates the relationship between investigated independent variables and cyberattack prevention, from hypothesis (H15, and H16–H22); (3) no significant association between investigated independent variables and cyberattack prevention from hypothesis (H1–H6), except hypothesis (H4 and H7), which show a significant association. The coefficient of cybersecurity leadership in this study is viewed as a prevention element against cyberattacks based on the findings. With greater cybersecurity leadership success, the implementation of cyberattack prevention increases. This study emphasizes the importance of cybersecurity leadership in a cyberspace environment that protects against cyberattacks and promotes cybersecurity awareness within financial organizations and society in UAE.