On a compact n-dimensional manifold $M^n$, a critical point of the total scalar curvature functional, restricted to the space of metrics with constant scalar curvature of volume 1, satifies the critical point equation (CPE), given by $Z_g;=;s_g^{1ast}(f)$. It has been conjectured that a solution (g, f) of CPE is Einstein. The purpose of the present paper is to prove that every compact stable minimal hypersurface is in a certain hypersurface of $M^n$ under an assumption that Ker($s_g^{1ast}{ eq}0$).