Corporate governance helps countries grow economically by managing stakeholder interests and reducing capital costs. Many studies show that good corporate governance leads to better economic growth, especially through stock market development. Socio-economic factors also play a big role in how well corporate governance works. Flexible governance systems are more effective than strict rules, especially in developing countries. More research is needed to improve how we study corporate governance. Countries should consider their social, economic, political, and legal systems when implementing corporate governance. Regulators and policymakers can use this information to make better rules for corporate governance.