This study aims to determine the effect of BI rate, USD to IDR exchange rates, and gold price on stock returns listed in the SRI KEHATI Index for the period January to December 2018. The population in this research is companies listed on the Indonesia Stock Exchange. The sample is determined by using a purposive sampling method. Some criteria of the sample are companies that: had entered to the SRI KEHATI index respectively from January to December 2018, reported the 2018 monthly financial report, were not suspended by the IDX during the study period, so that obtained a sample of 23 companies with total data is 268. This study used quantitative data analysis in the form of time-series data from January to December 2018. The data collection method used in this study is the documentation method. The analytical tool in this study is the multiple regression analysis. In this study, data is processed by using the SPSS program 21. The results show that the BI rate has a significant positive effect on stock returns, the USD to IDR exchange rate has a significant negative effect on stock returns, and gold price does not have a significant effect on stock returns.

Objective: This study examines the effect of implementation of invesment based sales growth (IBSG) on asset improvement in the food and beverages companies from 2017 to 2019. In this research, IBSG consist of tangible asset, company’s growth, positioning, liquidity, sales performance, business risk, firm size, profitability, and tax. Asset Improvement reflected to capital structure which proxy is debt to total asset ratio. Research Design & Methods: The sample is taken according to purposive sampling with the criteria, finally 21 companies are taken from 31 companies. The data were examined with the assistance of SPSS21 software. Data collected from the company's financial statements and measured using a formula adopted from earlier research. Findings: tangible assets have a significant positive effect on capital structure, company’s growth has a significant negative effect on capital structure, positioning has a significant positive effect on capital structure, liquidity has a significant positive effect on capital structure, sales performance has no effect on capital structure, business risk has no effect on capital structure, firm size has a significant positive effect on capital structure, profitability has a significant positive effect on capital structure, an tax has a significant positive effect on capital structure. Limitations & Recommendations: R square value is low, then suggessted to add more variables for future research. the number of company samples is too small, then recommanded to add more period in future research. Contribution & Value Added: This result contributes to the financial literature, especially related to the companies listed in food and beverages companies group. Practically, stakeholders can use this result as additional information in making policy decisions.