To Review the Impact on Stock Return of the TSE Listed Companies with Emphasizing on Idiosyncratic Cash Flow volatility

Associated risks of an asset are unavoidable factors that affect the performance and return. One of the associated risks is cash flow volatility that affects stock return as an idiosyncratic risk. In this survey we investigate factors which affect stock return. In order to differentiate this survey from others our, focus is on relationship between cash flow volatility and stock return.
This research is a descriptive-correlative investigation and the panel data is used for estimating model. This survey includes 116 listed firms of Tehran Stock Exchange during 2001 to 2010.
There are 4 hypotheses in our research that survey the relation between cash flow volatility and return. Two hypotheses of this research are rejected and two of them are significant in 95% confidence level. Using panel data regression, the results show that stock return is negatively related to cash flow volatility and price momentum.