Corporate Social Responsibility (CSR) and its disclosure in the university environment is a topic of current relevance, as it makes the entities' commitments visible and provides indicators that enable them to improve the institution management and communication with stakeholders. The goal of this study is to determine to what extent the structure and mechanisms for governance and the demands of stakeholders influence policy for disclosing CSR information, both in general (more related to a strategic perspective) and specifically (more focused on specific social, environmental, economic, and educational issues). The results of our analysis of a sample of the top 200 universities in the Shanghai Ranking show no association of the profile and gender of the university's rector and frequency of board meetings with CSR disclosure policy, but leadership team, the size of governance board, committees in the governance board and stakeholder participation are factors determining disclosure of information on matters of CSR. The results show that proximity to the day-to-day, diversification of functions, and communication with interest groups are crucial to transparency and disclosure of CSR information.Given the growing concern for CSR, this situation requires in-depth study to enable fuller development in the university environment of a theoretical framework based fundamentally on stakeholder theory. We can understand the behaviors carried out by universities based on stakeholder theory. According to this theory, universities, as agents of society, seek to meet the demands and needs of stakeholders and acquire commitments on social and environmental issues. This theory can explain the disclosure of CSR information to fulfil the responsibility of being transparent and thus achieving the commitment of stakeholder [7]. Therefore, one essential point for effective development and integration of CSR policies and strategies in the culture of higher education institutions is identification of stakeholders' expectations and needs-that is, entering into dialogue with these actors [8,9] by establishing communication channels and improving transparency through disclosure of financial and non-financial information [10,11]. Such actions make universities accountable to society and improve the satisfaction of their different social interlocutors by showing understanding that satisfaction of these interlocutors revolves around demand for more information, a more transparent mode of functioning, and the possibility of participation [12]. We propose that this approach involves a top-down strategy in the organizational structure of the universities. This proposal requires the analysis of Corporate Governance (CG) mechanisms in managing the institution and how they find out and assumes the different interest groups-employees, investors, suppliers, customers, local communities, and society in general-that affect and are affected by its activities [13]. One of the contributions of this paper is to establish the relationship between the CG str...