Abstrak
One form of information that is often used from some information is the financial statements published by the company. Financial reports are prepared not only for the benefit of company management but also for other parties who have an interest in financial data in the company and to achieve this, every company that goes public on the Indonesia Stock Exchange is required to report an annual financial report. This study aims to see and analyze the effect of operating cash flow, investment cash flow and funding cash flow on stock returns in pulp and paper companies listed on the Indonesia Stock Exchange. The sample in this study amounted to 9 pulp and paper companies listed on the Indonesia Stock Exchange for the period 2016-2019. The data analysis technique in this study is quantitative data analysis using statistical software 20. The analytical test used is the t-test, F test and the coefficient of determination (R2) test. Descriptive statistics are used to help analyze the data by describing the data that has been collected. Based on the results of the study, operating cash flow, investment cash flow and funding cash flow have a significant effect on stock returns which is proven by the test results, because based on the significant testing level the t-value is below 0.05. Based on the hypothesis testing in this study, the research findings can be concluded that: The tests that have been carried out show that H1, H2, H3 are accepted and H0 is rejected, meaning that stock returns have a positive and significant effect on firm value.