In addition, even though empirical studies on SD reporting were extensively conducted in advanced nations, e.g. research on the topic in less advanced economies is very limited, particularly in Thailand , were stakeholders could exercise little power to pressure the businesses to make available social and environmental information . In face, there exists no prior research on the trend in SD reporting by SET listed companies, thus contributing to a lack of evidence on the extent, type, trend and level of SD reporting of thai corporations. IN addition, the causal relationship between the SD reporting and corporate characteristics is inconclusive, Furthermore, although the stakeholder theory has been able to explain the SD reporting practices in developed countries explanatory ability has never been proven in the setting of developing countries. The concept of SD reporting is widely recognized, but its definitions are so varied and generalized that the operationalization and measurement of SD and its various perspectives are hampered.