In the wake of the financial crisis and the recent pandemic, a new upsurge of stakeholder demands has developed calling on firms to shift focus towards long-term value creation and moving away from short-term profits. These trends call for more transparency and improved non-financial reporting. The link between CSR and firm value has been controversial. The proponents say that it enhances value because it improves relationships between firms and their stakeholders while opponents argue that it is an agency cost for managerial self-interest. The research investigates the impact of CSR disclosure i.e., Environmental, Social and Governance (ESG) activities on a firm’s value. It aims to overcome the limitations of widely used ESG data and provide fresh insights into applications of corporate social responsibility principles and corporate governance that has not received systematic attention and consideration in the literature. The study will help in building value creating constructs for CSR reporting and the conceptual model might form a part of an extended contribution of thoughts in the existing literature.