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A stability analysis of a propagating ion beam through a plasma medium is carried out in terms of transverse conductivity of the background plasma. Coupled eigenvalue equations are obtained for the flat-top density profiles of beam ions and plasma electrons. The dispersion relation of the transverse instability in an intense ion beam propagating through the background plasma is derived, including the plasma conductivity (4πσ⊥/ω), the magnetic decay time τd and fractional charge neutralization f. It is shown that the obtained dispersion relation recovers the previous one of the electron-ion two-stream instability in the limit of σ⊥→0. On the other hand, the dispersion relation of the resistive-hose instability is recovered when σ⊥→∞. Influence of the finite transverse conductivity σ⊥ on the resistive hose stability properties are investigated for the ion beam propagating through a plasma channel. The growth rate of the resistive hose instability decreases considerably as the transverse conductivity 4πσ⊥/ω decreases from infinity.