This study investigates the determinants of voluntary Corporate Social Responsibility (CSR) disclosure by German listed companies. Using content analysis, the researchers examine 130 German companies' CSR disclosures (470 firm-year observations) to identify factors influencing these disclosures. The study constructs a CSR disclosure index based on the Global Reporting Initiative (GRI) guidelines. The results show that CSR disclosure is positively associated with company visibility, shareholder structure, and relationship with US stakeholders. Higher profitability is linked to more environmental disclosures. Additionally, industry membership and firm size affect the amount of CSR disclosure. The findings support the political cost theory, suggesting that companies disclose CSR information to reduce potential political and societal costs. The study highlights that companies in "polluting industries" tend to have higher environmental disclosures, while service sector companies disclose less CSR information. The research contributes to understanding the variation in CSR disclosures across companies and provides insights into the factors driving voluntary CSR reporting. The study also notes limitations, including potential biases in industry classification and the use of keywords as units of analysis. Overall, the study underscores the importance of firm-specific characteristics in determining CSR disclosure practices.This study investigates the determinants of voluntary Corporate Social Responsibility (CSR) disclosure by German listed companies. Using content analysis, the researchers examine 130 German companies' CSR disclosures (470 firm-year observations) to identify factors influencing these disclosures. The study constructs a CSR disclosure index based on the Global Reporting Initiative (GRI) guidelines. The results show that CSR disclosure is positively associated with company visibility, shareholder structure, and relationship with US stakeholders. Higher profitability is linked to more environmental disclosures. Additionally, industry membership and firm size affect the amount of CSR disclosure. The findings support the political cost theory, suggesting that companies disclose CSR information to reduce potential political and societal costs. The study highlights that companies in "polluting industries" tend to have higher environmental disclosures, while service sector companies disclose less CSR information. The research contributes to understanding the variation in CSR disclosures across companies and provides insights into the factors driving voluntary CSR reporting. The study also notes limitations, including potential biases in industry classification and the use of keywords as units of analysis. Overall, the study underscores the importance of firm-specific characteristics in determining CSR disclosure practices.