Two main limitations of this reserch study are the sole reliance on the annual reports for analysis data and the exclusion of certain corporate characteristic factors. In fact corporations communicate with stakeholder through numerous communication channels, such as stand-alone reports and websites in addition to annual reports. Futhermore, the level of SD reporting Could be influenced by other factors of corporate characteristicsm e.g corporate governance age of business Thusm future research study should include other communication channels fof SD disclosure and encompass additional possible influencing factors of the level of SD reporting.