Corporate boards have gained remarkable significance over the past few years due to the efforts of various scholars who explored the positives of corporate boards in the context of governance of companies. This paper investigates the effectiveness of corporate boards in stimulating corporate governance, generating shareholder value and examining physiognomies that affect good governance practices. The intention is to explore: how principles of corporate governance can be stimulated to be more effective and efficient; what attributes of corporate governance may influence the performance of corporate boards for satisfying the shareholder expectations. The methodology used for this paper is qualitative and employs an inductive approach along with exploratory and analytical philosophy. The findings of this paper emphasize the fair appointment process for directors and to increase the number of external directors in corporate boards; so that the significant issues of companies could be discussed properly and finalized timely.