Abstract
The aim of this article is to investigate the effect of companies act 2017 on governance parameter in Pakistan, especially in non-financial companies measures the qualities of a firm's financial performance (FFP). This article analysis the secondary data from the company’s annual reports of a sample of 120 non-financial companies from 11 different sectors. The non-financial companies are listed in Pakistan Stock Exchange (PSX), and time frame are selected from 2013 to 2018. The findings showed that Board Independence (BI), Audit Committee Independence (ACI), and the Women Directors (WD) on the board has a substantial and beneficial influence on FFP. However, interestingly, the Separate Leadership Structure (SLS) exerted a significant and negative effect on FFP. The study enriches the literature, policy, and practice especially after the introduction of the recent CG code 2017 in Pakistan. The findings suggest that the nomination of independent directors to the board and audit committee along with increasing the number of women directors on the board augment the independence of the board that has positive impacts on FFP.
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