Interest in the issue of corporate governance appeared as a logical consequence of the financial collapse in East Asian countries, and then interest increased after the emergence of cases of failures and scandals in major American companies such as Enron and Weil Crum. These collapses are mostly due to financial and administrative corruption in general, and financial corruption in particular, as well as the lack of proper management in control and supervision, lack of experience and skill, as well as imbalance in financing structures, so the concept of corporate wisdom has spread in various scientific fields(Jiang & Kim, 2020).Corporate governance has developed as an important mechanism over the last decades. The recent global financial crisis has reinforced the importance of good corporate governance practices and structures(Almashhadani, 2021). It is now well recognized that corporate governance structures play an important role in enhancing firm performance and sustainability in the long term Good corporate governance is vital to companies across many business sectors as it enhances company image, boosts shareholders’ confidence, and reduces the risk of fraudulent practices (Pandey et al., 2023).