Iranian Financial Engineering Association(IFEA) International Journal of Finance & Managerial Accounting 2588-4379 13 48 2026 01 01 Sustainability-Driven Financial Stability: Empirical Insights from the Iranian Listed Manufacturing Companies 23 42 24277 10.22034/ijfma.2025.77720.2135 EN Seyyed Rasool Masoumi Department of Accounting Jo. C., Islamic Azad University, Joybar, Iran. 0000-0001-6903-491X Ali Asghar Anvary Rostamy Department of Planning & Management, Tarbiat Modares University, Tehran, Iran. 0000-0002-7495-8276 Journal Article 2024 06 07 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. Sustainability, disclosure, reporting, bankruptcy risk, financial stability http://www.ijfma.ir/article_24277_eb27b5382e9d6e1ae84947113126b570.pdf