PENGARUH ENVIRONMENTAL, SOCIAL, AND GOVERNANCE (ESG), DEBT TO EQUITY RATIO (DER), DAN GROSS PROFIT MARGIN (GPM) TERHADAP FINANCIAL DISTRESS (Studi Empiris pada Sektor Properti dan Real Estate yang Terdaftar di BEI Periode 2022-2024)

This study aims to analyze the effect of ESG, DER, and GPM on financial distress. The independent variable in this study includes Environmental, Social, and Governance (ESG), Debt to Equity Ratio (DER), and Gross Profit Margin (GPM), with the main hypothesis that these variables influence financial distress. This study employs a quantitative method with a panel data approach on 53 property and real estate companies listed on the Indonesia Stock Exchange during the 2022-2024 period, selected through purposive sampling. Panel data regression analysis is conducted using EViews version 12, and financial distress is measured using the Altman Z-Score. The results show that ESG and DER have a significant negative effect on financial distress, while GPM has a significant positive effect on financial distress.