<![CDATA[Purpose – This study aims to analyze the effect of Environmental, Social, and Governance (ESG) performance on the financial performance of companies included in the SRIKEHATI index during the 2019–2024 period. The research seeks to examine whether ESG disclosure dimensions contribute to improving or influencing corporate financial outcomes. Design/Methodology/Approach – This study employs a quantitative approach using panel data regression analysis. The research sample consists of seven companies selected based on predetermined criteria from companies included in the SRIKEHATI index. The study uses a six-year observation period, resulting in 42 observations. The data were analyzed using the Random Effects Model approach and processed using STATA version 17. Findings – The findings indicate that environmental disclosure and governance disclosure have negative and significant effects on corporate financial performance, while social disclosure does not have a significant effect. The results also show that environmental disclosure, social disclosure, and governance disclosure collectively explain 25.15% of the variation in financial performance, while the remaining 74.85% is influenced by other factors outside the research model. Originality/Value – This study contributes to ESG and corporate finance literature by examining the relationship between ESG disclosure components and financial performance in companies listed in the SRIKEHATI index. The findings provide empirical insights into the complexity of ESG implementation, demonstrating that increased disclosure does not always directly translate into improved financial performance, particularly within specific market contexts.]]>
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