Nottingham University Business School
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Professor Andrew Stark

Professor of Accounting

Division: Accounting
Tel: +44 (0) 115 9515488
Location: C10 (Si Yuan Building, Jubilee Campus)

I am module convenor of the following modules:


Market-based Accounting Research (N15F15)

Details of all modules can be found on MyNottingham

I am currently supervising the following Research Students:

Abdul Rahman Ahmad Abdullah Al Natour
Fatema Aljalahma
Tarek Mahmoud Mosaad Metwally

Publications prior to 2005

Publications prior to 2005

Journal Articles

Stark, A. (2004), "Estimating economic performance from accounting data - a review and Synthesis", British Accounting Review, Vol.36 (4), pp. 321-343.

Akbar, S.; Stark, A. (2003), "Discussion of scale and the scale effect in market-based Accounting Research", Journal of Business Finance and Accounting, Vol.30 (1&2), pp. 57-72.

Al-horani, A.; Pope, P.; Stark, A. (2003), "Research and development activity and expected returns in the United Kingdom", Review of Finance (formerly European Finance Review), Vol.7 (1), pp. 27-46.

Bessant, J.; McGee, J.; Pidd, M.; Rowley, G.; Saunders, J.; Stark, A.; Birley, S.; Cooper, C.; Dawson, S.; Gardiner, J.; Gennard, J.; Grey, A.; Jones,, (2003), "The state of the field in UK Management Research: reflections of the research assessment exercise (RAE) panel.", British Journal of Management, Vol.14 (1), pp. 51-68.

Antle, R.; Bogetoft, P.; Stark, A. (2001), "Information Systems, Incentives and the Timing of Investments", Journal of Accounting and Public Policy, Vol.20 (4&5), pp. 267-294.

Manson, S.; Powell, R.; Stark, A. (2000), "Identiftying the Sources of Gains From Takeovers", Accounting Forum, Vol.24 (4), pp. 319-343.

Stark, A. (2000), "Real options (Dis) investments decision-making and accounting measures of performance", Journal of Business Finance and Accounting, Vol.27 (3&4), pp. 313-331.

Antle, R.; Bogetoft, P.; Stark, A. (1999), "Selection among mutually exclusive investments with managerial private information.", Contemporary Accounting Research, Vol.16 (3), pp. 397-418.

Stark, A.; Thomas, H. (1998), "On the empirical relationship between market value and residual income in the UK", Management Accounting Research, Vol.9 (4), pp. 445-460.

Stark, A. (1997), "Linear information dynamics, dividend irrelevance , corporate valuation and the clean surplus relationship", Accounting and Business Research, Vol.27 (3), pp. 219-228.

Stark, A. (1997), "The impact of irreversibility, uncertainty and timing options on deprival valuations and the detection of monopoly profits", Accounting and Business Research, Vol.28 (1), pp. 40-52.

Green, P.; Stark, A. (1996), "UK Evidence on the market valuation of research and development expenditure", Journal of Business Finance and Accounting, Vol.23 (2), pp. 191-216.

Stark, A. (1994), "Some analytics of why conditional IRRs contain growth related measurement error", Journal of Business Finance and Accounting, Vol.21 (2), pp. 219-230.

Stark, A. (1993), "Problems in measuring the case recovery rate and measurement Error in estimates of the IRR", European Accounting Review, Vol.2 (2), pp. 199-218.

Cohen, S.; Loeb, M.; Stark, A. (1992), "Separating controllable performance from non-controllable performance: the case optimal procurement contracting", Management Accounting Research, Vol.3 (4), pp.pp, 291-306.

Connolly, M.; Stark, A. (1992), "Accountability and Privatisation in Northern Island", Public Administration, Vol.70 (3), pp. 369-385.

Stark, A.; Thomas, H.; Watson, I. (1992), "On the practical importance of measurement error in conditional IRRs", Journal of Business Finance and Accounting, Vol.19 (3), pp. 407-424.

Griner, E.; Stark, A. (1991), "On the properties of measurement error in cash recovery rate based estimate of economic performance", Journal of Accounting and Public Policy, Vol.10 (3), pp. 207-223.

Stark, A. (1991), "Simple resource allocation rules: a note on a generalisation", Journal of Business Finance and Accounting, Vol.20 (3), pp.pp, 411-416.

Gordon, L.; Loeb, M.; Stark, A. (1990), "Capital budgeting and the value of information", Management Accounting Research, Vol.1 (1), pp. 21-35.

Stark, A. (1990), "Irreversibility and the capital budgeting process", Management Accounting Research, Vol.1 (3), pp. 167-180.

Gordon, L.; Stark, A. (1989), "Accounting and Economic Rates of Return: a note of depreciation and other accruals", Journal of Business Finance and Accounting, Vol.16 (3), pp. 425-432.

Stark, A. (1989), "A note on the aggregation properties of hotelling depreciation", British Accounting Review, Vol.21 (1), pp. 69-76.

Stark, A. (1989), "On testing the assumptions underlying the cash recovery rate approach to the estimation of economic performance", Accounting and Business Research, Vol.19 (75), pp. 277-285.

Griner, E.; Stark, A. (1988), "Cash recovery rates, accounting rates of return, and the estimation of economic performance", Journal of Accounting and Public Policy, Vol.7 (4), pp. 293-311.

Lee, T.; Stark, A. (1987), "Ijiri's cash flow accounting and capital budgeting", Accounting and Business Research, Vol.17 (66), pp. 125-131.

Stark, A. (1987), "On the observability of the cash recovery rate", Journal of Business Finance and Accounting, Vol.11 (1), pp. 99-108.

Stark, A. (1987), "Some thoughts on 'A cost-benefit analysis of accounting for inflation", Journal of Accounting and Public Policy, Vol.6 (3), pp. 209-217.

Stark, A. (1985), "inventories, credit transactions and the marginal effective tax rate.", Journal of Accounting and Public Policy, Vol.4 (3), pp. 225-231.

Lee, L.; Stark, A. (1984), "A cash flow analysis of government supported enterprises", Journal of Business Finance and Accounting, Vol.11 (1), pp. 1-11.

Stark, A. (1984), "Uncertain Input prices, profit risk and the rate-of-return regulated firm - comment", Land Economics, Vol.60 (4), pp. 404-407.

Stark, A. (1982), "Estimating the internal rate of return from accounting data", Oxford Economic Papers, Vol.34 (3), pp. 520-525.

Lawson, G.; Stark, A. (1975), "The concept of profit for fund raising", Accounting and Business Research, Vol.6 (21), pp. 21-41.


Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M.; Azevedo-Pereira, J.; Patel, K. (2001), Real Options, Evaluating Corporate Investment Opportunities In A Dynamic World, Financial Times/ Prentice Hall.

Howell, S.; Stark, A.; Newton, D. P.; Paxson, D.; Cavus, M. (2000), Real Options, An Introduction For Executives, Financial Times Prentice Hall.

Publications from 2005 to the present day

Journal Articles

Dedman, E.; Jiang, W.; Stark, A. (2015), "The value relevance and information content of cash and stock dividends in China", European Journal of Finance, pp. 1-26, (Best paper Award for the European Journal of Finance 3rd Conference on the Chinese Capital Markets).

Michou, M.; Mouselli, S.; Stark, A. (2014), "On the differences in measurng SMB and HML in the UK - Do they matter?", British Accounting Review, Vol.46 (3), pp. 281-294.

Wei, J.; Stark, A. (2013), "Dividends, Research and Development Expenditures, and the Value Relevance of Book Value for UK Loss-Making Films", British Accounting Review, Vol.45 (2), pp. 112-124.

Yun, S.; Stark, A. (2013), "Evaluating the Effectiveness of Model Specification and Estimation Approaches for Empirical Accounting-based Valuation Models", Accounting and Business Research, Vol.43 (6), pp. 660-682.

Akbar, S.; Shah, S.; Stark, A. (2011), "The value relevance of cash flows, current accruals and non-current accurals in the UK.", International Review of Financial Analysis, Vol.20 (5), pp. 311-319.

Dedman, E.; Mousselli, S.; Shen, Y.; Stark, A. (2009), "Accounting, intangible assets, stock market activity ad measurement and disclosure policy: evidence from the UK", Abacus, Vol.45 (3), pp. 312-341, DOI: 10.1111/j.1467-6281.2009.00291.x.

Gadad, A.; Stark, A.; Thomas, H. (2009), "Divestitures: Wealth Transfers or Real Economic Gains", Applied Financial Economics, Vol.19 (13), pp. 1073-1081.

Liu, L.; Stark, A. (2009), "Relative Performance Evaluation in Board Cash Compensation: UK Empirical Evidence", British Accounting Review, Vol.41 (1), pp. 21-30.

Shah, S.; Syed, Z.; Stark, A.; Akbar, S. (2009), "The Value Relevance of Major Media Advertising Expenditures: Some UK Evidence", International Journal of Accounting, Vol.44 (2), pp. 187-206.

Soares, N.; Stark, A. (2009), "The Accruals Anomaly: Can Implementable Portfolio Strategies Be Developed That Are Pofitable Net of Transactions Costs in the UK?", Accounting and Business Research, Vol.39 (4), pp. 321-325.

Stark, A. (2008), "Intangibles and Research - an overview with a specific focus on the UK", Accounting and Business Research, Vol.44 (2), pp. 275-285.

Shah, Z.; Stark, A.; Akbar, S. (2007), "Firm size, sector and market value of R&D expenditures", Applied Financial Economics, Vol.4 (2), pp. 87-91.

Powell, R.; Stark, A. (2005), "Does operating performance increase post-takeovers? A Comparison of performance measures and benchmarks", Journal of Corporate Finance, Vol.11 (1&2), pp. 293-317.



Nottingham University Business School

Jubilee Campus

telephone: +44 (0) 115 846 6602
fax: +44 (0) 115 846 6667