Proceedings of the 1st International Conference on Business, Economic, and Social Sustainability (ICOBES 2025)

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Contribution Revealing the Impact of Good Corporate Governance on Firm Value: Systematic Literature

Authors
Maruf Agung Kurniawan1, *, Sri Hermuningsih1
1Master of Management, Universitiy of Sarjanawiyata Tamansiswa, Yogyakarta, Indonesia
*Corresponding author. Email: maruffpu@gmail.com
Corresponding Author
Maruf Agung Kurniawan
Available Online 15 April 2026.
DOI
10.2991/978-94-6239-626-5_7How to use a DOI?
Keywords
Good Corporate Governance; Firm Value; Systematic Literature Review; and Energy Sector
Abstract

This study aims to comprehensively examine the influence of good corporate governance (GCG) on firm valuation in the energy sector using a systematic literature review (SLR) approach. The research identifies dominant trends, key influencing factors, and practical implications for stakeholders in strengthening corporate governance practices. The analysis employs literature review and draws on 950 relevant articles collected from Google Scholar on January 20, 2024, through the Publish or Perish application using the keywords “good corporate governance” and “firm value.” The results reveal a significant increase in publications on GCG and firm value, peaking in 2023, with five main thematic clusters highlighting the interconnection between GCG, firm value, corporate growth, and stakeholder engagement. While GCG and firm value are the most studied topics, areas such as managerial ownership, independent commissioners, and audit committees remain underexplored, offering opportunities for future research. The findings indicate that effective GCG implementation positively correlates with profitability, operational efficiency, and corporate reputation, leading to higher firm valuation. This study provides essential insights for policymakers and practitioners to design stronger governance frameworks that enhance transparency, attract investment, and build public trust, thereby contributing to sustainable performance and social welfare in the energy sector.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 1st International Conference on Business, Economic, and Social Sustainability (ICOBES 2025)
Series
Advances in Economics, Business and Management Research
Publication Date
15 April 2026
ISBN
978-94-6239-626-5
ISSN
2352-5428
DOI
10.2991/978-94-6239-626-5_7How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Maruf Agung Kurniawan
AU  - Sri Hermuningsih
PY  - 2026
DA  - 2026/04/15
TI  - Contribution Revealing the Impact of Good Corporate Governance on Firm Value: Systematic Literature
BT  - Proceedings of the 1st International Conference on Business, Economic, and Social Sustainability (ICOBES 2025)
PB  - Atlantis Press
SP  - 89
EP  - 105
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-626-5_7
DO  - 10.2991/978-94-6239-626-5_7
ID  - Kurniawan2026
ER  -