This study uses four types of boards-Caretaker, Statutory, Proactive andParticipative to explore whether corporate governance mechanisms play essential rolesin investment decisions (stock prices and financial distress). Further, we use corporatecontrol types (management-controlled firms and owner-controlled firms) to examinethe above effects to know whether strong corporate governance mechanisms canfacilitate to investment decisions. The findings show that corporate governancemechanisms can affect investment decisions. Owner-controlled firms get morepositive stock evaluation and are less likely to get into financial distress thanmanagement-controlled firms, revealing that firms adopting good corporate governancepractices can get positive evaluation from the perspective of investors.