The purpose of this study is to examine the effect of profitability proxyed with Return On Assets (ROA) and Investment Opportunity Set which proxied with Capital Expenditure to Book Value of Asset (CAP / BVA) ratio against Company Value projected with Tobin's Q with Good Corporate Governance GCG) as a moderating variable, empirical studies on Conventional Commercial Banks listed on the Indonesia Stock Exchange in 2014-2016. This research uses sampling technique that is using purposive sampling so that 76 samples in Conventional Commercial Bank listed in Indonesia Stock Exchange year 2014-2016. The method of analysis of this study using Moderated Regression Analysis (MRA) using an analysis tool that is SPSS 21. The results of this study states that: Profitability has a significant positive effect on Corporate Value, Investment Opportunity Set has a significant positive effect on Corporate Value. Good Corporate Governance strengthens the influence of Profitability on Corporate Value and Good Corporate Governance strengthens the influence of Investment Opportunity Set on Corporate Value.