Firm Information Transparency: Ethical Questions in the Information Age Antonino Vaccaro, Peter Madsen IN+ Center for Innovation, Technology and Policy Research, IST Lisbon and Carnegie Mellon University, USA, vaccaro@andrew.cmu.edu J. Heinz School of Public Policy and Management and the Center for the Advancement of Applied Ethics, Carnegie Mellon University, USA Peter Madsen <pm2n@andrew.cmu.edu> Abstract. The wide diffusion of information and communication technologies (ICT) over the last few decades has modified the way in which individuals and institutions interact and conduct social and business activities. We analyze the importance of a firm’s information transparency, defined as the degree of completeness of information, regarding their own business activities, provided by each company to the market, and the related role of ICT. First, we present a brief historical perspective of information transparency of business organizations. Then, we analyze the actual role and possibilities offered by ICT to contemporary firms and to society. We develop a model that integrates the ethical and economical/financial forces affecting information transparency applying it to the case study of a famous multinational company. Finally, useful insights for scholars and practitioners are presented. Keywords: Information Ethics, Information Transparency, ICT and Social Change, Business Ethics. 1 Introduction The recurrent scandals in the industrial and financial sectors that have occurred in the last few decades have given rise to ethical concerns and lower esteem in the public’s opinion regarding business practices of contemporary firms. As a consequence, consumers around the world continue to ask for more detailed information about business practices and business ethics. On the other hand, the introduction and diffusion of information communication technologies (ICT) has caused ‘the electronic communication effect’ [1]. This is the