This document summarizes a study that investigated the relationship between corporate governance and investor reaction on the Karachi Stock Exchange from 2004-2013. The study used data from 114 manufacturing companies and measured corporate governance using factors like board independence, board size, ownership structure, and audit committee independence. It found a negative but insignificant correlation between corporate governance and investor reaction. Regression analyses also showed an insignificant relationship. The study concluded that corporate governance did not significantly impact investor reaction in the Pakistani context over the period studied.