The objectives of the study were the effect of applying the concept of the theory of constrain in maximizing the profits of Saudi industrial companies in accordance with the vision of 2030, and the study is based on the descriptive analytical approach. To obtain the data, the researchers’ used The preliminary data for this study were obtained through a questionnaire, and the Secondary data related to this study have been obtained by reference to books The validity of the hypotheses proved where it was reached that the application of the theory of constrain helps Saudi industrial companies in maximizing their profits, improving or increasing the level of improvement by applying the theory of constrain leads to maximizing the return of profits. The impact of the internal and external constrain of Saudi industrial companies in maximizing profits, Saudi Arabia's strategy in accordance with Vision 2030 supports industrial companies to build a competitive and sustainable system that promises to benefit from the national economy and Saudi citizens.

This study examines whether environmental, social, and governance (ESG) disclosure reduces firm risk among 73 non-financial Tadawul-listed companies in Saudi Arabia over 2015–2024, with particular attention to the moderating role of board independence. Firm risk is measured as the annualized standard deviation of daily stock returns, and ESG disclosure is captured by the LSEG (Refinitiv) ESG score. A two-way (firm and year) fixed-effects model with Windmeijer-consistent inference is used as the primary specification to identify the within-firm association between ESG disclosure and firm risk, while a two-step dynamic System Generalized Method of Moments (System GMM) estimator is reported as a robustness approach to address dynamic persistence, reverse causality, and unobserved heterogeneity. The findings indicate that the effect of ESG disclosure on firm risk is conditional rather than uniform. In the fixed-effects baseline, ESG disclosure is associated with lower firm risk, and this conditional pattern is confirmed under System GMM: once the interaction with board independence is introduced, the direct effect is no longer risk-reducing; instead, the negative and highly significant interaction term shows that ESG disclosure lowers firm risk mainly when board independence is high. Leverage consistently raises firm risk, while profitability reduces it in the moderation model. The study recommends that regulators pair ESG reporting requirements with stricter board-independence enforcement, that firms treat governance reform as a complement to sustainability reporting rather than a substitute, and that investors interpret ESG disclosure jointly with board structure when assessing firm risk. The study contributes to stakeholder, signaling, and agency theory by showing that ESG disclosure operates as a governance-dependent risk-management mechanism rather than an unconditional one.