“…Solak and Zhuo (2020) analyze the information sharing decisions of a firm in the context of information system security. Some other references concerning security investment are listed in the literature (Gal‐Or and Ghose, 2005; Lye and Wing, 2005; Feng and Li, 2011; Shirtz and Elovici, 2011; Wang et al., 2011; Hua and Bapna, 2013; Huang et al., 2014; Gao et al., 2015; Gao and Zhong, 2015; Wu et al., 2017; Liu et al., 2018; Weishäupl et al., 2018; Wu et al., 2018, 2020; Chen et al., 2022; Li and Xu, 2021). What makes the above‐mentioned studies differ from ours is that they do not consider information security insurance.…”