This article examines the impact of the systematic application of good corporate governance tools on the capitalization of joint-stock companies. Based on empirical data from leading public companies in Uzbekistan, an integrated model is proposed that includes board independence, audit committees, dividend policy, gender diversity, and stakeholder engagement. The results of the regression analysis show that the combined use of these corporate governance mechanisms significantly increases the value of Tobin’s Q, confirming the theoretical propositions of agency theory, resource-based approach, and stakeholder theory.