Does innovation efficiency affect financial performance? The role of ownership concentration

The company that is synonymous with the application of science and technology manufacturing industry (Krmela et al., 2022). Manufacturing companies in Indonesia have been accustomed to use their production activities so far, because really helps company’s be more effective (Muchran, 2020). This study examines effect innovation efficiency on firm performance moderating role ownership concentration this effect. as optimal combination input output. inputs used are research development expenses, machine repair information purchases. Meanwhile, output innovation. 616 annual reports from 2013 2018. analytical technique a moderated regression analysis. results show positively significantly correlated performance. In addition, provide evidence concentrated ownership, encouraging managers intensive carrying out it affects increasing These findings there projects can improve performance, find easier carry active involvement shareholders management process when implemented aimed at improving