The study examines the impact of foreign ownership on the corporate strategies and firm value of Indian companies. It aims to investigate how foreign ownership influences firms' investment behaviors, whether conservative or aggressive, and how these behaviors affect investment efficiency which will determine the extent to which resource allocation is optimized. In addition to that, the research examines the role of financial reporting quality, exploring whether high transparency and accurate reporting amplify the positive effects of foreign ownership on firm value. The study also aims to understand the channels through which foreign ownership impacts firm value, specially focusing on the interplay of corporate strategies, including investment behavior, corporate risk-taking, and financial reporting quality. By addressing these objectives, the research will provide a comprehensive analysis of how foreign ownership shapes corporate behavior and firm performance. The findings are expected to offer valuable insights for policymakers, corporate managers, and investors, highlighting the critical factors that enhance or diminish the benefits of foreign investment in driving firm growth and stability.