Harga saham dapat mengindikasikan aktivitas perkembangan suatu perusahaan dan menunjukan komitmen investasi yang dilakukan para investor. Namun, dalam kondisi tertentu kerap terjadi penurunan harga saham yang signifikan yang disebut sebagai market crash seperti karena adanya risiko geopolitik. Penelitian ini bertujuan untuk menguji bagaimana pengaruh geopolitical risk dan financial crisis terhadap market crash dan bagaimana kinerja ESG mampu menekan market crash tersebut. Penelitian ini dilakukan secara kuantiatif pada 64 perusahaan dengan jumlah sampel sebanyak 353 data pada periode 2010-2022. Pengujian dilakukan menggunakan regresi data panel. Hasil penelitian menunjukkan bahwa GPR memiliki pengaruh signifikan terhadap market crash secara parsial, namun financial crisis tidak memiliki pengaruh signifikan terhadap market crash. Pada penelitian ini, hasil penelitian hanya dapat menjelaskan 6.4% total variabel yang dapat menjelaskan stock crash price, sedangkan sisanya sebesar 93.6% dijelaskan oleh variabel lain diluar penelitian ini. / Stock prices can indicate a company's development activity and show the investment commitment made by investors. However, under certain conditions, there is often a significant decline in stock prices which is called a market crash, such as due to geopolitical risk. This study aims to examine how geopolitical risk and financial crisis affect the market crash and how ESG performance can suppress the market crash. This study was conducted quantitatively on 64 companies with a sample of 353 data in the period 2010-2022. Testing was carried out using panel data regression. The results of the study show that GPR has a significant effect on the market crash partially, but the financial crisis does not have a significant effect on the market crash. In this study, the research results can only explain 6.4% of the total variables that can explain stock crash prices, while the remaining 93.6% is explained by other variables outside this study.