Pengaruh Arus Kas Operasi Terhadap Harga Saham Dengan Persistensi Laba Sebagai Variabel Intervening [JURNAL]

ABSTRACT
This research is aimed to examine and find out empirical evidence of the positive
influence of operation cash flow on stock price with earnings persistence as the
intervening variable. Samples used in this research are manufacturing companies
listed in Bursa Efek Jakarta in 4 years observation period (1999-2002). Total
samples are 100 companies. The data are collected using purposive sampling
method. The component of cash flow used is the operation cash flow with direct
method from the cash flow report. Earnings persistence is measured using
regression coefficient between current earnings and next period earnings. This
method is used since it is appropriate with the condition in Indonesia. The earnings
used is operating income. The result of path analysis shows that operation cash flow
does not influence stock price with earnings persistence as the intervening variable.
Thus, the hypothesis of the research is not empirically supported.

Keywords: Stock Price, Operation Cash Flow, and Earnings Persistence

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