<b>Corporate Governance and Firm Financial Performance A Case Study on EFFORT Conglomerate Companies</b> Corporate governance is considered nowadays as the prominent factors for the growth and development perspective of an economy. Sound corporate governance practices leads the economy towards the achievement of higher performance, provide sources for capital investment by increasing the creditability of shareholders. The purpose of this study is to empirically investigate the relationship of corporate governance and firm performance in terms of accounting performance measured by Return on asset, Return on equity and Corporate Social Responsibility. To achieve the purpose 13 companies were selected from all sectors out of 14 EFFORT conglomerate companies. Both primary and secondary data were used. The primary data were collected using questionnaire and interview and the secondary data was gathered from annual reports of the companies for the period of 2009 to 2015. Descriptive statistics, correlation analysis and regression estimation using pooled, fixed effect, random effect and Hausman specification test were carried out after developing a composite index based on 6 proxies for corporate governance practices. The random effect regression result entails that ROA has significant relationship with transparency and disclosure, board structure scores and stakeholders’ right. Similarly, transparency and disclosure, stakeholders right and board structure were significantly associated with ROE. In addition, the corporate social responsibility expenditure to earnings ratio CSR was positively and significantly related with stakeholders’ right and board structure scores and negatively and significantly associated with transparency and disclosure. However, pooled OLS regression result indicated that the overall corporate governance index score and firm performance has no significant association. Corporate Governance, Financial Performance, Board of Directors, Shareholders, Stakeholders 11-25 Issue-6 Volume-1 D.M. Sheaba Rani | Redae Kahsay Adhena