COMPARATIVE ANALYSIS OF CORPORATE GOVERNANCE PRACTICES: A SYSTEMATIC LITERATURE REVIEW OF INDIA AND GCC NATIONS
DOI:
https://doi.org/10.55829/ijmpr.v3i4.256Keywords:
corporate governance, ESG factors, Corporate governance in India, Corporate governance in GCCAbstract
This systematic literature review aims to review the effect of corporate governance on the firm’s financial performance and relationship between corporate governance mechanisms, government regulation and firm financial performance across different regions. The review therefore integrates conclusions from several related papers to establish how good governance practices improve sustainability, profitability, and investor satisfaction of firms. Applying the analytic approach studying the reaction of the corporate boards indicating that their diverse and actively participating in the strategic decision making has a positive impact to the increase of the financial performance and the betterment of their corporate health. In the similar vein, this study defines how strong regulatory measures that align them to the hubs and local fiscal and culture settings influences transparency and accountability to fuel financial performance. This study also reveals the new implementation problems and constraints of the governance practice including differential application of the laws and rules, and dynamic requirements for the local and global business environments for the models of the governance. The results accentuate the importance and continuous need for governance changes and serve as a platform for further research, especially focusing on digital governance and ESG factors. This research will therefore fit into this existing body of knowledge by showing how corporate governance is an imperative prerequisite for sustainable business success and stakeholder trust.
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