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:

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