<![CDATA[The financial performance of food and beverage companies listed on the Indonesia Stock Exchange (IDX) fluctuates, while research findings on the factors influencing it have been inconsistent. This study employs a systematic literature review of 15 articles published between 2021 and 2026 on the effects of financial slack, capital structure, and firm size on financial performance, with five articles representing each factor. The articles were compared based on their subjects, proxies, methods, and results through a narrative synthesis. Financial slack is generally positively associated with performance, although its direct effect is not always significant and depends on the measure used. Regarding capital structure, four articles found a positive effect and one found a negative effect. Firm size most often had no significant effect. Differences in results relate to the performance measures (ROA, ROE, Tobin’s Q), debt proxies, and the role of financial slack as a direct variable or moderator. Within the scope of the search, no articles on financial slack in the food and beverage sector were found, nor were any articles that tested all three variables in a single model. Based on these patterns, this study formulates three propositions to be tested in future empirical research.]]>
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