<![CDATA[This study examines the effect of Good Corporate Governance (GCG) on financial performance, with risk management serving as a mediating variable, in manufacturing companies listed on the Indonesia Stock Exchange during the 2022–2025 period. GCG is measured using three governance mechanisms: independent commissioners, the audit committee, and the board of directors. Financial performance is assessed using Return on Assets (ROA), while risk management is measured through Enterprise Risk Management Disclosure (ERMD). This research employs a quantitative approach with purposive sampling, resulting in a sample of 43 manufacturing companies. Data were analyzed using multiple linear regression and the Sobel test with SPSS software. The findings indicate that independent commissioners and the board of directors have a significant positive effect on financial performance, whereas the audit committee does not significantly influence financial performance. Furthermore, Good Corporate Governance has a significant positive effect on risk management, and risk management significantly improves financial performance. The Sobel test confirms that risk management mediates the relationship between Good Corporate Governance and financial performance. These findings suggest that effective corporate governance practices enhance financial performance both directly and indirectly through improved risk management. This study highlights the importance of strengthening governance structures and implementing comprehensive enterprise risk management to improve organizational performance and create sustainable corporate value.]]>
