This study to examine the effect of board meetings, audit committee meetings, board size, proportion of independent board of commissioners, profitability, liquidity, leverage, size, age, disclosure of sustainability reports and their impact on market reaction. The population of this study is a company listed on the IDX (Indonesia Stock Exchange) in 2013-2016. Selection of this research sample using purposive sampling method. Pursuant to purposive sampling method, amount of sample of company expressing sustainability report is 32 company. Analytical tool to test the hypothesis of regression analysis using SPSS 16.0program. The results of this study indicate that audit committee meetings, profitability, age of the company, positively affect the disclosure of sustainability report. While the board of directors meeting variables, board size, proportion of independent board of commissioners, liquidity, leverage, size and impact of sustainability report on abnormal return no significant effect.