Abstract
Good governance is integral to the existence of a company. It inspires and strengthens investor confidence and has a fundamental role in evolving and shaping the overall business environment. In the Indian context there is scant literature on the impact of corporate governance on value creation. The purpose of the paper is to examine the impact of good corporate governance implementation on value creation by S&P Bombay Stock Exchange (BSE) Greenex companies of India, measured by economic value added (EVA). In this paper a corporate governance index has been attempted as a proxy to firm's corporate governance quality. The index is based on three main themes - board of directors, transparency and disclosure and investor relations. Economic value added (EVA) has been used as a measure of corporate value creation. The results show that quality of corporate governance has a positive relationship with value creation i.e., EVA of these companies. However, the impact is found to be not significant.
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