Abstract: This study inspects the relationshipsbetween corporate governance attributor firm performance and firm value of listed financial sector companies inSri Lanka. Empirical analysis focused on 56 companies registered in Colombo Stock Exchange (CSE) covering industries of bank, finance and insurance for the years 2014 and 2015.Study used hierarchical regression method to analyze the data. Controlling the corporate governance variables through firm size, firm growth and leverage study finds that Return on asset and Tobin Q do not relate with the board structure. Return on equity positively associate with the proportion of independent directors on the board.This study enable to companies to evaluate and restructuring of their board to enhance the performance and value of the company while contributing to the economic development of the country.Findings of prior study are more focused to the developed country context. This study fill the research gap and contribute to the present literature on corporate governance in industries of bank finance and insurance.