This study examined the effect of ownership concentration, controlling shareholders, and corporate governance on market discipline in Indonesian banking. The research sample was 101 conventional commercial banks in Indonesia during 2013-2016. Using a dynamic data panel model, the study found that banks with foreign control and corporate governance negatively affected market discipline. In contrast to that result, the study also found that banks with government control and concentration had positive effect on market discipline. Results indicated that ownership structure and corporate governance impact market discipline in Indonesian banking. © 2019 by Nova Science Publishers, Inc. All rights reserved.