Zainuddin, F., Wahyudi, S., & Muharam, H.
The objective of the study is to find out the relationship between ownership concentration, investment opportunities, operational efficiency, and firm value. By using purposive sampling, this study employs 28 conventional banks listed on the Indonesian Stock Exchange for the period 2013-2019. By employing the WarpPLS version 6.0, this study reveals that ownership concentration and investment opportunity significantly affect firm value. In addition, operational efficiency mediates the effect of ownership concentration and investment opportunities on firm value. The higher the concentration level, the more efficient it is. This strengthens the role and function of the monitoring mechanism carried out by shareholders on management.