The main purpose of this study is to assess the impact of changes in corporate governance practices, introduced by the Companies Act 2017 (which replaced the Companies Ordinance, 1984), on the financial performance of non-financial sector companies in Pakistan. The research study implements a quantitative method to analyse how specific corporate governance variables influence financial performance. The annual data from 2017 to 2022 employed, focusing on 63 non-financial companies listed on the stock exchange. The research relies on panel data to produce an extensive time-based assessment of the examined variables. The analysis demonstrated that corporate governance elements, particularly board composition and ownership patterns, have a direct impact on the financial outcomes of Pakistani non-financial firms. CEO ownership proved to have a negligible impact on the study results. This research contributes to the existing literature by focusing on the non-financial sector in Pakistan, a relatively under-explored area, providing insights into the specific corporate governance factors that drive financial success in this context. The study’s scope, primarily focused on Pakistan’s non-financial sector, suggests the need for broader research encompassing various industries, including financial institutions, for a more comprehensive understanding of corporate governance’s impact.
