The current study evaluates the level of CSR disclosure in the firms of the Saudi listed as well as for identifying the role of six characteristics of the firm namely firm size, performance, government ownership, debt, capital raised and audit firm size on influencing the extent of CSR disclosure. As crafted a declaration that consists of 21 voluntary items to assess the CSR disclosure in the annual reports of 10 companies listed in Tadawul. Findings show that firms still have a low CSR disclosure level in the examined year.

The low levels of CSR disclosure can be a result of the low awareness of the importance of CSR information by the investors. The issue of environmental protection could have a general impact on society which could be of less priority to investors. Therefore, no substantial pressure is shown by the stakeholders to force firms to disclose more information on their CSR performance. Another main reason can relax environmental and social regulations which can be the reason behind fewer initiatives for environmental protection or employees' rights. With regards to the impact of the six firm characteristics and CSR disclosure, the present study finds a positive influence on firm size, government ownership, and performance and the CSR disclosure.

In contrast, debt, capital raised and audit firm size does not have any influence on the CSR disclosure. To the body of knowledge of CSR disclosure in developing countries, this study is contributing positively, particularly Saudi Arabia which is vital for producing the large quantity of the world's oil. The findings of the study might provide some insights to the Saudi authorities to enforce stricter policies to enhance CSR reporting.

The Saudi authorities should provide a guideline for firms and the public for giving the awareness related to the importance of CSR practices, particularly the environmental reporting as Saudi Arabia has a large oil industry which is known to be one of the most pollution producer industries. The scope of the CSR disclosure is only collected from the annual reports of 2016 for the 21 items of the index. Future studies could include more critical questions to the index that could extract more CSR information. Future studies can also use other sources of information and a more prolonged period.

Recommendations of The Impact of Firm Characteristics on Corporate Social Responsibility Disclosure: Evidence from Saudi PLCs

It is concluded that the authorities of Saudi Arabia must provide a particular guideline for the firms as well as to the public. The importance of CSR practices must be raised in society for reporting the betterment of the environment of Saudi Arabia.  Saudi Arabia is considered a rich country because of the production of oil in Saudi Arabia. The several another item can be included in the index of the study for extracting the more information related to the CSR. Many other sources of the data can also use as the future studies of the CSR disclosures.   

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