Transparency of Information in Spanish Family Businesses and Its Role in Online Reputation Management

Abstract

Corporate reputation is one of the main assets to compete successfully in the markets today, which requires its proper management. One of the main factors that determine the level of reputation of a company is transparency, due to its effects on the acquisition of the necessary information in order to maximize the effectiveness of stakeholders´ decisions. In order to know the current situation of information transparency provided by the family businesses of Castile and León, a study has been carried out, analyzing the degree of compliance with the requirements established by Royal Decree Law of 18/2017 of 24 November in 35 family businesses in the region. This law establishes the social and environmental information that companies with over 500 employees are legally obliged to provide.