Published Paper Details:

This research paper explores the impact of corporate governance on the financial performance of Indian Public Sector Enterprises (PSEs). The study examines various aspects of governance frameworks, including board independence, transparency, and the influence of political interference, and assesses how these factors affect financial metrics such as Return on Assets (ROA) and Return on Equity (ROE). The analysis reveals that while governance reforms, including the introduction of corporate governance guidelines and the granting of managerial autonomy through Maharatna, Navratna, and Miniratna statuses, have led to improvements in financial performance, challenges remain. Issues such as political interference, lack of managerial autonomy, and varying levels of implementation across different sectors continue to hinder the full realization of these reforms. The paper also highlights the need for further policy recommendations to enhance governance practices and financial outcomes in PSEs. Recommendations include strengthening board independence, enhancing transparency, reducing political influence, promoting performance-based incentives, and fostering a culture of accountability. This comprehensive review provides valuable insights into the relationship between governance and financial performance in the context of Indian PSEs and offers practical suggestions for future improvements.