In this research, we conduct a literature review of various papers pertaining to the relationship between corporate governance and firm performance. We begin our review with the landmark G-Index developed by Gompers, Ishii, and Metrick (2003) and compare it with the Gov-Score developed by Brown and Caylor (2004). We find sufficient evidence to suggest that the latter is a better indicator of firm performance. We then proceed to review various studies from around the world, including USA, UK and Eurozone countries, Australia, China, Middle East, Malaysia, Sri Lanka, Nigeria, and finally return back to Pakistan. We also review the reverse relationship studied by Valenti, Luce, and Mayfield (2011).