... reform and act in accordance with international standards This study investigates the effects of firmlevel Corporate governance on Firm Value (Tobin’s Q as proxy), and Stock Market Performance (Total ... value and stock market performance for the period 200 6-2 009 The relationships, again either positive or negative, between each Corporate Governance sub-indices with firm value and stock market performance ... each Corporate Governance compliance sub-indices has in terms of influencing Firm Value and Stock Market Performance for the second period of the study, the correlation results provide further insights...