ENVIRONMENTAL, SOCIAL AND GOVERNANCE (ESG) DAN UKURAN PERUSAHAAN SEBAGAI DETERMINAN KINERJA KEUANGAN

The study aims to examine the impact of ESG disclosure and company size on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) for the 2020-2024 period. This study uses a quantitative approach with regression analysis. Data were obtained from annual reports and sustainability reports, which were the objects of study during a observation period. The study results show that environmental disclosure has a negative impact on financial performance, indicating that increased environmental activities and reporting can incur costs in the short term. Meanwhile, social and corporate governance disclosures show no impact on financial performance, indicating that the benefits of such disclosures have not been directly reflected in the company's financial performance. Company size shows a negative but insignificant impact on financial performance, indicating that the amount of assets does not automatically improve financial performance without being supported by efficient resource management. This study demonstrates that companies need to strategically manage ESG practices to avoid putting pressure on financial performance, and also enriches empirical research on the relationship between ESG and financial performance in the context of companies in Indonesia