PENGARUH FINANCIAL PERFORMANCE DAN CEO TENURE TERHADAP ESG PERFORMANCE PADA PERUSAHAAN TERBUKA NON-KEUANGAN DI INDONESIA

This study investigates how financial performance and CEO Tenure influence ESG performance among non-financial publicly listed companies in Indonesia. Using a quantitative and causal research design, the study analyzes a sample of 65 firms selected through purposive sampling. The data are derived from publicly available sources, including annual reports and the Bloomberg ESG database. The empirical analysis applies multiple linear regression complemented by estimation to ensure reliable results. The findings reveal that firms with stronger financial performance, as measured by Return on Assets (ROA), are more likely to demonstrate higher ESG performance. In contrast, longer CEO Tenure is associated with a decline in ESG performance. This negative relationship indicates that extended leadership duration may reduce responsiveness to sustainability practices, potentially due to entrenched managerial behavior. Overall, this study highlights the importance of both financial capability and leadership dynamics in shaping corporate sustainability outcomes.