The purpose of the work is to provide empirical evidence on association of stakeholder pressure on disclosure practice of sustainability reporting in the real estate sector in India using Fixed effects regression. The data have been collated for three years ending 2022, 2023, and 2024 for 54 companies. The different stakeholders that form part of the present analysis include Shareholder pressure, Employee pressure, Customer and supplier pressure, Regulatory Pressure and Creditor Pressure. The results from the panel regression state that regulatory pressure, as represented by Firm Size, is positively associated with sustainability reporting. The results also show that credit pressure is positively associated with sustainability reporting, which means that companies with a high debt ratio report sustainability reporting as compared to companies having a low debt equity ratio. Significant negative ownership concentration of firms suggests that policymakers and regulators should encourage diversified ownership patterns to reduce the dominance of controlling shareholders. On the other hand, customer pressure and Employee pressure having insignificant association. Additionally, Age of the company has a significant association.
Chopra et al. (Tue,) studied this question.