Transparency is one of the basic principles of corporate governance and in this study, applicability of transparency variables in the private and public hospitals in Istanbul were investigated. A positive relationship is estimated between transparency and stakeholder participation as a good governance element in qualitative and quantitative performance of corporate performance. Survey method is preferred as a research method and it was applied to 351 upper and mid-level managers in 74 hospitals listed in the list of hospitals in the provincial health directorates between 2013-2014 in Istanbul. Data were analysed with SPSS 16.00 and factor analysis, reliability analysis, correlation analysis and regression analysis were used to test the data. As a result of these analyses, it was understood that applicability of transparency principles have a positive effect on qualitative and quantitative performance through stakeholder participation. The mediating effect of stakeholder participation on the relationship between transparency principle and qualitative and quantitative performance was identified first time in this research. Therefore it is an important contribution to the literature. (C) 2016 The Authors. Published by Elsevier Ltd.