This paper investigates cybercrime in Small and Medium Enterprises (SMEs) using Cyberspace Theory as a theoretical framework for a comprehensive analysis. Cyberspace Theory enables a thorough examination of cybercrime in SMEs, covering motives and consequences of cyber incidents, and identifying existing gaps. The study also delves into SMEs' perception of cybercrime fear, interpreting fear as their concern for cybercrime risk and its potential consequences. Drawing from a robust European Union database comprising 12,863 SMEs across member countries, our research contributes by establishing a taxonomy based on SMEs' perceptions of cybercrime fear. Understanding SMEs' views on cybercrime is crucial for enhancing cybersecurity measures and comprehending the broader economic and social implications of cybercrime.

This study investigates cybersecurity resilience in small and medium-sized enterprises (SMEs), focusing on three key aspects: the capacity to handle potential cyber incidents, the ability to recover from such incidents, and the capability to adapt in the face of possible cyber threats. Grounded in the Resource-Based View (RBV) framework, we conduct an empirical investigation utilizing a survey of 239 UK SMEs. The study makes a theoretical and methodological contribution, with significant implications for managers. First, the study highlights the lack of SMEs’ engagement with the management of cybersecurity and finds cybersecurity incidents to be the most important factor in driving resilience, as compared to cybersecurity capabilities. Moreover, the study also extends the RBV theory, emphasizing the importance of the interaction between cybersecurity capabilities affecting SMEs’ cybersecurity resilience. Second, the study showcases the potential of statistical methods, particularly machine learning techniques to identify the relationships between the factors affecting SMEs’ cybersecurity.

Our study explores how cyber-capabilities and cyber-attacks drive investment in cybersecurity systems. We assume that cybersecurity investment is a strategic decision in the organizations. To analyze this research question, we make use of the Cyber Security Breaches Survey data, with a sample consisting of 4,163 UK organizations in the periods 2018 to 2019, and employ machine learning techniques (ANN and K-mean cluster). The study extends the current literature on cybersecurity systems and improves our understanding of it in several ways. First, it provides evidence for how the cybersecurity systems are developed in organizations. Second, regarding what factors affect investment in cybersecurity systems, it shows that organizations invest in cybersecurity based on their cybersecurity capabilities and the experienced cyber-attacks. Third, from a managerial point of view, the paper contributes to understanding cybersecurity within the management of the organization.