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Corporate governance compliance and disclosure: Insights from Pakistani listed firms
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Supervisor
Date
2026-03-22
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Abstract
The objective of this study is to examine the impact of corporate governance
compliance and disclosure on achieving a sustainable corporate reporting
system in a developing country. Specifically, the study evaluates the level of
corporate governance disclosure and compliance with the Pakistani
Corporate Governance (CG) Code of 2013. A sample of 150 Pakistani firms
was selected, and data were collected from their annual reports covering the
period from 2014 to 2023. The analysis of the data shows several important
findings. Over the ten-year period, Pakistani firms demonstrate a positive
trend in corporate governance compliance and disclosure. The level of
corporate governance improved after the revision of the CG Code in 2013,
which contributed to more sustainable corporate governance practices and
reporting. The findings suggest that stronger enforcement and monitoring of
the 2013 Pakistani Corporate Governance Code could further improve
transparency and sustainability in corporate reporting. Policymakers and
regulators may use these results to design targeted reforms that maintain
and strengthen the increasing trend of compliance among listed firms.
Overall, the study provides empirical evidence of a decade-long improvement
in corporate governance compliance and disclosure among Pakistani firms
following the 2013 code revision, highlighting the important role of
regulatory reforms in promoting sustainable corporate governance practices
and improving reporting quality in emerging markets.
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Attribution-NonCommercial-NoDerivatives 4.0 International