<![CDATA[This study aims to analyze the effect of Environmental, Social, and Governance (ESG) disclosure on financial performance. The independent variables include environmental disclosure, social disclosure, and governance disclosure, while the dependent variable is financial performance, proxied by Return on Assets (ROA t +1). The research focuses on coal mining and oil and gas companies listed on the Indonesia Stock Exchange (IDX) during the 2021–2023 period. The data analysis method employed is panel data multiple linear regression using the Random Effect Model (REM), processed with EViews 12 SV software. The study comprises 84 observations selected through purposive sampling. The findings reveal that environmental and governance disclosures have no significant effect on financial performance. In contrast, social disclosure has a negative impact on financial performance. Additionally, the simultaneous disclosure of ESG dimensions significantly influences financial performance, indicating that transparent and consistent ESG reporting may help reduce business risk and enhance firm value. These results highlight the need for more strategic ESG practices to support long-term financial sustainability.]]>
Copyrights © 2025
