Determinants of Information Security Risks in Multinational Enterprises: A Comprehensive Analysis

Abstract This study seeks to systematically identify and evaluate the critical factors influencing information security risks in multinational enterprises (MNEs). To develop a robust framework for assessing these risks, a preliminary set of indicators was constructed through an extensive review of existing literature and in-depth expert interviews. To ensure the validity and reliability of the framework, the Delphi method was employed to achieve expert consensus, while the Analytic Hierarchy Process (AHP) was utilized to quantify and establish the relative weights assigned to each indicator. The findings reveal that information security risk management is significantly influenced by six interrelated dimensions: technical factors, organizational management practices, personnel-related issues, regulatory compliance, external environmental conditions, and Environmental, Social, and Governance (ESG) practices. These dimensions collectively shape the vulnerability landscape of enterprises, emphasizing the need for a holistic and structured approach to mitigating information security risks in complex multinational business environments. JEL classification numbers: H25, I115, J48. Keywords: International Enterprises, Information Security, Risk Management, Cloud Security, ESG.