Abstract
Corporate governance and its elements in the recent decades play a vital role while value investors choosing a stock. The study focuses on how value investors gain confidence while choosing firms to invest in. This study aims to provide a comprehensive framework of how corporate governance influences value investors selecting a stock, mediated by investment confidence and perceived information asymmetry, and Perceived Risk of Governance Failure (PRGF). Using a systematic literature review and PRISMA based approach of publications indexed in Scopus and Web of Science between the period of 2010 and 2025. The paper comprises findings on five core governance dimensions like Board Independence (BI), Executive Compensation Transparency (ECT), Shareholder Protection Mechanisms (SPM), Financial Reporting Quality (FRQ), and Audit Committee Quality (ACQ), and connects them to value relevant outcomes such as earnings quality, information asymmetry, and investor behaviour. Based on the reviewed findings of journals, a conceptual Value Stock Selection Likelihood (VSSL) model is proposed. The review shows that BI, ECT, SPM, FRQ, and ACQ affect VSSL through Investment Confidence (IC), information asymmetry perception (IAP), and perceived Risk of Governance Failure (PRGF). The paper concludes with theoretical and practical implications and outlines directions for future empirical research using primary data from value investors.