Abstract: - In today era of globalization, the corporate world requires a world-class governance system. Corporate governance is about promoting corporate ethics, fairness, transparency and accountability. In recent years, the area of corporate governance has been in limelight and has attracted increased attention of academicians and researchers worldwide due to high-profile scandals and corporate collapses like Enron, WorldCom and Satyam. Despite the intuition that Good Governance would lead to Good Performance by firm, conclusive evidence on this relationship has been lacking.