The study aimed to test the impact of application the principles of corporate governance relating to administrative ownership for listed companies on Damascus Securities Exchange, The study sample included of 24 companies spread over five sectors banking, insurance, industry, agriculture and services during the period from 2009 to 2014, and used multiple regression to test hypotheses. The Variables studied included market value as measured by Tobin's Q-dependent variable and all of the ownership of CEO, board size, ownership of the Board of Directors, the independence of the Board of Directors as independent variables and the size of the company and the proportion of debt and the type of sectors a secondary variables. The most significant results of the study that listed companies in Damascus Securities Exchange abide by the rules of governance, particularly relating to administrative ownership of them. Affecting the increased market value of the companies, which encourages investors to invest in them.