This research examined the effect of implementing corporate governance, e-business and innovation to competitive advantage, and assessed the implication to the company’s financial performance. It was conducted among 67 companies in the financial industry listed on the Indonesian Stock Exchange. The research was conducted using a cross-sectional study with a questionnaire to obtain a response from top management, during the period of May to November 2016. Multivariate analysis was done to test the hypothesis, using Structural Equation Modelling based on variance or Partial Least Square (PLS). In the research, it was found that implementation of corporate governance had a negative impact on competitive advantage, but had a positive effect on financial performance. Application of E-Business had a positive impact on financial performance, while the application of innovation had a positive effect on competitive advantage and financial performance. This research also confirmed that competitive advantage had a positive impact on the company’s financial performance.