Impact of Corporate Governance on Firm’s Systematic Risk in the Presence of Culture: A Study of Companies Listed in Pakistan Stock Exchange

Abstract

Zingels (2021) defines corporate governance as the set of resources that shareholders use to ensure that boards of directors manage resources efficiently. Rezaei (2021) provides a broad definition that defines corporate governance as the regulation, legal aspects, listing standards, legislative aspects, market practices, operational practices, and efforts of all members of the corporation, including corporate directors. All companies strive to attract investors in domestic and international financial markets by maximizing their capital.