In past studies, most of which measure corporate governance by observing whether the chairman and CEO are the same person, cash flow rights and the scale of the board and to name but a few. However, these standards are monotonous that could not completely react the true corporate governance situation. This article aims to examine corporate governance by corporate governance index, which involves multiple corporate governance standards in one criteria. Moreover, this article is also going to clarify the relationship between corporate governance index and institutional investors’ investing willing and the liquidity of corporate stock. The result shows that there is obviously positive correlation between corporate governance index and institutional investors’ investing willing, but no significant positive correlation between corporate governance index and the liquidity of corporate stock.