This study explores that when a company is poorly managed, its major operational decisions raise the possibility of mistakes in decision-making due to the lack of independent experts who provide appropriate opinions and poor monitoring functions of the board of directors. A serious decision-making mistake is enough to produce a major financial crisis. Empirically, the case company’s improvements before and after corporate governance can indeed enable the company to step out of a crisis. The improved governance corporate governance can also boost market investors’ confidence and clear their doubts, making the company’s market value to exceed the book value. Market investors can measure the value of the company through company financial statement alerts and by paying attention to corporate governance.