The Influence of Capital Structure, ESG (Environmental, Social, And Governance), And Firm Size on Financial Performance of Food & Beverage Subsector Companies Listed on the Indonesia Stock Exchange in 2019-2023

Abstract : This study examines the impact of Capital Structure, ESG (Environmental, Social, and Governance), and Company Size on Financial Performance in Food & Beverage Subsector Companies listed on the Indonesia Stock Exchange from 2019 to 2023. Using a quantitative approach, it analyzes secondary data from 95 companies, with 23 meeting the sample criteria. Panel data regression was tested using Microsoft Excel and E-Views Series 9. The findings indicate that (1) Capital Structure does not affect Financial Performance; (2) ESG has a positive and significant effect; (3) Company Size negatively affects Financial Performance; and (4) all three variables collectively have a positive and significant impact to Financial Performance.