PENGARUH ARUS KAS OPERASI TERHADAP RETURN SAHAM DENGAN PERSISTENSI LABA SEBAGAI VARIABEL INTERVENING

The objective of this research is to identifr the influence of earnings persistence as if intervening variable to the relation of operation cash flow with stock return. Subject of this reseach is manufacturing corporation that listed in Indonesian Stock Excange whith publish flnancial report in 2001-2007. This research used secondary with purposive sampling technics. Regretion analysis that used it this research is to know the influence of operation cash frow and earnings persistence to stock return. The result of this research is to indicate that operation cash flow and earnings persistence have positive influence to stock return. That thinks because the corporate which has positive operation cash frow it means that the corporate in good condition and has high earnings and than can maintain that earnings so the stock price will increase than the return in condition get bigger. Other result is that the earnings persistence not intervening variable and the relation operation cash jlow is direct relation with stock return.