This paper investigates the effects of corporate governance mechanisms on the cost of capital of Canadian firms listed on the Toronto Stock Exchange after the 2008 financial crisis. Since the end of the crisis, the cost of capital has fallen for Canadian firms. Insider ownership, board size, and CEO duality are found to be negatively related to the cost of capital. In contrast, institutional ownership is shown to be positively related to the cost of capital. Most examined governance mechanisms have differential impacts on firms across industries and regions in Canada. In Canadian mining firms, which have a higher cost of capital than firms in other industries, insider ownership is negatively associated with the cost of capital. In the transportation industry, both institutional ownership and insider ownership are positively related to the cost of capital. Firms domiciled in Quebec have a lower cost of capital that reflects its industrial structure.