Pengaruh ESG Risk Rating Score, Ukuran Perusahaan, Leverage, Likuiditas dan Struktur Modal terhadap Kinerja Keuangan Perusahaan Manufaktur yang Terdaftar Bursa Efek Indonesia Periode 2022-2025
DOI:
https://doi.org/10.37481/sjr.v9i4.1762Keywords:
ESG Risk Rating Score, Firm Size, Leverage, Liquidity, Capital StructureAbstract
This study examines the effect of ESG Risk Rating Score, firm size, leverage, liquidity, and capital structure on the financial performance of manufacturing companies listed on the Indonesia Stock Exchange (IDX) during 2022-2025. The study addresses the inconsistent findings of previous research regarding the factors associated with corporate financial performance. A quantitative approach was applied using secondary data obtained from financial statements, annual reports, and ESG-related information. The sample was determined through purposive sampling and consisted of 8 manufacturing companies, yielding 32 firm-year observations. Financial performance was measured by Return on Assets (ROA), while ESG Risk Rating Score, firm size, leverage, liquidity, and capital structure were represented by their respective research indicators. Multiple linear regression analysis was conducted using SPSS 26. The results show that ESG Risk Rating Score, firm size, leverage, liquidity, and capital structure individually have no significant effect on financial performance. The findings indicate that these factors alone are insufficient to explain variations in ROA among the sampled manufacturing companies. The Adjusted R² of 0.201 further suggests that the research model explains 20.1% of the variation in financial performance, while the remaining variation is attributable to other factors outside the model.
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