The primary impact of Saudi Vision 2030 announcement on corporate social responsibility disclosure on Saudi firms in industrial sectors

Abstract

In April 2016, Saudi Arabia announced Saudi Vision 2030 (SV2030), a plan that involves a massive enhancement of economic, social and environmental aspects of the country. This study aims to investigate the primary impact of SV2030 on the CSR disclosure of Saudi-listed companies in the industrial sectors of energy, materials and transportation. The study observes150 annual reports of 51 companies listed on the Saudi stock exchange and operating in these sectors during the period 2015–17. SV2030 was found to have only a slight impact on CSR disclosure in 2016,which could be due to the early stage of the plan. However, the plan could be related to the significant increase in CSR disclosureof2017,even if the companies did not mention such a relationship in their disclosures. The gradual increase in CSR disclosure during the period under study could predict a future improvement in CSR disclosure when the plan’s programs are complete.