Information technology security management concerns in global financial services institutions: Is national culture a differentiator?

The purpose of this paper is to add a layer of understanding to a previous survey of information technology (IT) security concerns and issues in global financial services institutions (GFSI).

This paper uses data obtained from a secondary source. The dimensions of national culture used in this paper come from Hofstede's work. Two analyses are performed on the data. First, a non‐parametric test is conducted to determine whether there are significant differences on the 13 IT security concerns when the dimensions of national culture are used to group responses. Second, a correlation analysis is carried out between the study's variables.

First, the results indicate that the dimensions of national culture are not statistically important in differentiating responses and perceptions of IT security concerns across GFSI. Second, some of the dimensions of national culture are found to have significant correlations with a few of the IT security concerns investigated.

The use of a secondary data source introduces some limitations. The views captured in the survey are those of management team, it is likely that end‐users' perceptions may vary considerably. Nonetheless, the main finding of the paper for corporate managers in the financial services industry is that IT security concerns appear to be uniform across cultures. Further, the data show that the dimension of uncertainty avoidance deserves further attention with regard to the assessment of security concerns in GFSI. This information may be useful for decision making and planning purposes in the financial services industry.

This paper is believed to be among the first to examine the impacts of national culture on IT security concerns in GFSI. The paper's conclusions may offer useful insights to corporate managers in the industry.