Dr Zulfiqar Shah
Associate Professor of Accounting
Research Interests
Zulfiqar's research interests are in the area of capital markets research; value relevance of advertising, R&D, capital expenditures; earnings management, compensation, corporate governance and firm performance. In addition, he is also interested in research issues in curriculum designing and assessment in higher education.
Teaching in 2020-2021
Accounting and Finance
- IB9FQ0: Financial Accounting: Theory and Context
MSc Business
- IB9AX0: Foundations of Financial and Management Accounting
Undergraduate
- IB1160: Foundations of Management Accounting
- IB2320: Issues in Management Accounting
Accounting Group
Email: Zulfiqar.Shah@wbs.ac.uk / Tel: 024 765 28955 / Room: 1.102
Biography
Zulfiqar obtained his PhD from Manchester Business School, UK. He also holds a first degree in business administration, BBA (distinction, gold medalist), an MBA (distinction, gold medalist), and an MA in Post-Compulsory Higher Education. In addition to commercial banking experience in the private sector, he had previously (2000 - 2003) held position as a Lecturer in Accounting and Finance at the University of Exeter. He is a fellow of the Higher Education Academy, UK, and a member of the British Accounting and Finance Association, and the Editorial and Advisory Boards of the South Asian Journal of Global Business Research
Publications
Journal Articles
- Shah, S. Z. A., Akbar, S., Ahmad, S. and Stark, A. W. (2021) "Advertising, earnings prediction and market value : an analysis of persistent UK advertisers", British Journal of Management
- Iqbal, M. Z., Akbar, S., Budhwar, P. and Shah, S. Z. A. (2019) "Effectiveness of performance appraisal : evidence on the utilization criteria", Journal of Business Research, 101, 285-299
- Sheikh, M. F., Shah, S. Z. A. and Akbar, S. (2018) "Firm performance, corporate governance and executive compensation in Pakistan", Applied Economics, 50, 18, 2012-2027
- Sheikh, M. F., Shah, S. Z. A. and Mahmood, S. (2017) "Weather effects on stock returns and volatility in South Asian markets", Asia-Pacific Financial Markets, 24, 2, 75-107
- Shah, S. Z. A., Akbar, S., Liu, J., Liu, Z. and Cao, S. (2017) "CEO compensation and banks’ risk-taking during pre and post financial crisis periods ", Research in International Business and Finance, 42, 1489-1503
- Akbar, S., Buthiena, K., Poletti, J. and Shah, S. Z. A. (2017) "Board structure and corporate risk taking in the UK financial sector", International Review of Financial Analysis, 50, 101-110
- Ali, A., Akbar, S., Ormrod, P. and Shah, S. Z. A. (2016) "Impact and implications of international financial reporting standards in the UK : evidence from the alternative investment market ", Australian Accounting Review, 26, 4, 360-375
- Liu, J., Akbar, S., Shah, S. Z. A., Zhang, D. and Pang, D. (2016) "Market reaction to seasoned offerings in China", Journal of Business Finance and Accounting, 43, 5-6, 597-653
- Akbar, S., Poleti-Hughes, J., El-Faitouri, R. and Shah, S. Z. A. (2016) "More on the relationship between corporate governance and firm performance in the UK : evidence from the application of generalized method of moments estimation", Research in International Business and Finance, 38, 417-429
- Imam, S., Chan, J. and Shah, S. Z. A. (2013) "Equity valuation models and target price accuracy in Europe : evidence from equity reports", International Review of Financial Analysis, 28, 9-19
- Zulfiqar Shah (2013) "The use of group activities in developing personal transferable skills", Innovations in Education and Teaching International, Volume 50, Number 3, 297-307
- Shah, S. Z. A., Liang, S. and Akbar, S. (2013) "International financial reporting standards and the value relevance of R&D expenditures : pre and post IFRS analysis", International Review of Financial Analysis, Volume 30, 158-169
- Shah, S. Z. A. and Jam-e-Kausar, (2012) "Determinants of capital structure of leasing companies in Pakistan", Applied Financial Economics, Volume 22, Number 22, 1841-1853
- Akbar, S., Shah, S. Z. A. and Stark, A. W. (2011) "The value relevance of cash flows, current accruals, and non-current accruals in the UK", International Review of Financial Analysis, Vol.20, No.5, 311-319
- Shah, S. Z. A. and Akbar, S. (2010) "Deflator choice effects in the valuation of advertising expenditures", Journal for Global Business Advancement , Vol.3, No.4, 348-357
- Shah, S. Z. A., Stark, A. W. and Akbar, S. (2009) "The value relevance of major media advertising expenditures: Some U.K. evidence", International Journal of Accounting, Vol.44, No.2, 187-206
- Akbar, S., Shah, S. Z. A. and Saadi, I. (2008) "Stock market reaction to capital expenditure announcements by UK firms", Applied Financial Economics, Vol.18, No.8, 617-627
- Shah, S. Z. A., Stark, A. W. and Akbar, S. (2008) "Firm size, sector and market valuation of R&D expenditures", Applied Financial Economics Letters, Vol.4, No.2, 87-91
- Shah, S. Z. A. and Akbar, S. (2008) "Value relevance of advertising expenditure : a review of the literature", International Journal of Management Reviews, 10, 4, 301-325
- Zulfiqar Shah (2007) "Discussion of Employee layoffs, shareholder wealth and firm performance: evidence from the UK", Journal of Business Finance & Accounting, Vol.34, No.3-4, 495-504
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