فهرست نشریات علمی دسترسی آزاد ایران

Sustainability performance has gained considerable attention in recent years as corporations increasingly highlight their environmental, social, and economic (ESE) achievements to demonstrate their dedication to sustainable practices. However, the impact of such performance on corporate financial performance remains a topic of debate, especially in emerging economies. This study examines the link between ESE sustainability practices and financial stability among manufacturing companies listed on the Tehran Stock Exchange from 2015 to 2022. Using Global Reporting Initiative (GRI) indicators, a dataset from 130 listed manufacturing companies was analyzed through multivariate regression. Fi-nancial stability, represented by the possibility of bankruptcy, is measured using the Z-Score index. Results show that sustainability performance, encompassing environmental, social, and economic aspects, significantly mitigates bank-ruptcy risk and enhances financial stability. These findings support the importance of sustainability performance for investors, encourage management to prioritize sustainability, and guide regulatory bodies and stock exchanges in im-proving sustainability disclosures and practices.