Interpretive Structural Modelling of Key Success Factors Influencing ESG Reporting among NIFTY 50 Companies in India

Abstract

Purpose:
This study aims to identify and analyse the key success factors influencing ESG reporting compliance among NIFTY 50 companies in India.

Design/Methodology/Approach:
The study applies the Interpretive Structural Modelling (ISM) technique to examine contextual relationships among nine critical enablers influencing ESG reporting. A Structured Self-Interaction Matrix (SSIM) was constructed using expert opinions and converted into reachability matrices to determine hierarchical levels. MICMAC analysis was further conducted to classify variables based on their driving and dependence power.

Findings:
The findings indicate that regulatory pressure acts as the strongest driving factor influencing stakeholder pressure and competitive pressure, which strengthen organizational resources. These resources enhance brand sensitivity and technological infrastructure, followed by top management commitment and corporate governance quality, ultimately leading to ESG reporting compliance as the final dependent variable.

Implications:
The study provides practical insights for policymakers and corporate managers to strengthen regulatory alignment, governance mechanisms, and technological readiness to improve ESG disclosure practices among leading Indian corporations.

Originality:
The study offers a structured ISM–MICMAC framework explaining the hierarchical relationships among ESG reporting enablers specifically for NIFTY 50 companies in India.