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The concept of morality which pre-long dates is considered as business morality by the modern world of companies and this concept opens the door of transparency, acountability, fairness and responsibility by another concept - corporate governance. Managers who are the determinators of the criterions of business morality are within the charge of establishing moral standards within the framework of corporate governance which will lead to higher employee performance. They are also in charge of creating a business discipline which will lead to higher productivity. The purpose of this study is to examine how to create business morality in the process of corporate governance by discussing the concepts of business morality and corporate governance. In the first part of this study, the concepts of moral and business morality, business ethics, its importance, and the process of the institutionalization of business morality would be examined in detail. In the second part, the fundementals of corporate governance, its aims, priciples and functioning would be discussed. Finally, the relationship of business morality and corporate governance would be analysed within a theoretical perspective, and it is within the intentions of authors to explore how business morality is handled in corporate governance. [ABSTRACT FROM AUTHOR]