Balanced Scorecard: Is It Beneficial Enough? A Literature Review
Article Sidebar
Published:
Feb 28, 2020
Main Article Content
Abstract
Purpose of the Research: This study reviews and evaluates the development of research on the balanced scorecard.
Design/ Methodology/ Approach: This is a literature study of71 articles from 21 Scopus Q1 indexed journals. The issuance year was ignored, yet the search area was restricted to business, management, and accounting. The analysis is grouped into three parts, namely BSC in private sectors, BSC in public sectors, and criticism for BSC. In private sectors and SMEs, the theme is divided into benefits of BSC, implementations of BSC, limitations and other tools to improve BSC.
Research finding: Although a large number of academics are sceptical about the relationship between BSC and organisational outcomes, BSC is widely used. Practitioner-oriented literature shows that it has useful values especially in improving organisational performance and strategy attainment. Based on the findings of empirical results in the private sector, SMEs, and the public sector, it can be inferred that the implementation status of the balanced scorecard shows a high level of success and minimal failure.
Theoretical contribution/ Originality: The BSC has limitations, yet these findings show that BSC is beneficial enough.
Practitioner/ Policy implication: The BSC remains worth considering for a performance management system.
Limitation/ Implication: This literature review is limited to specific quality ratings of the academic journals.
Type of article: Literature review
Keywords: Balanced Scorecard, Kaplan and Norton, Management Accounting, Literature Review
JEL Classification: M21, M41
Downloads
Download data is not yet available.
Article Details
Issue
Section
Literature Review
License
The Asian Journal of Accounting Perspectives (AJAP) articles are published under a licence equivalent to the Creative Commons Attribution-NonCommercial-NoDerivs License (CC BY-NC-ND). The licence allows users to copy, distribute, and transmit an article as long as the author is attributed. The article is not used for commercial purposes. The work is not modified or adapted in any way.
Copyright
Authors are required to sign the Exclusive License to Publish agreement upon publication in the AJAP. The agreement grants the Publisher (Faculty of Business and Accountancy, Universiti Malaya) to publish and disseminate the articles.
Open Access
Articles published in the AJAP are digital, online, free of charge, and free of most copyright and licensing restrictions.
Article Processing Charge
Articles publish in AJAP is free submission, production and publication charges. However, all accepted articles are required for language editing. The AJAP officially appointed and outsourced proofreader will conduct this process, and the authors will cover the cost. AJAP does not profit from this process and transaction.
References
Ahn, H. (2005). How to individualise your Balanced Scorecard?. Measuring Business Excellence, 9(1), 5-12. https://doi:10.1108/13683040510588792
AndjelkovicPesic, M., & Dahlgaard, J.J. (2013). Using the Balanced Scorecard and the European Foundation for quality management excellence model as a combined roadmap for diagnosing and attaining excellence. Total Quality Management & Business Excellence, 24(5-6), 652-663.https://doi.org/10.1080/14783363.2013.791109
Antonsen, Y. (2014). The downside of the Balanced Scorecard: A case study from Norway. Scandinavian Journal of Management, 30(1), 40-50. https://doi.org/10.1016/j.scaman.2013.08.001
Asan, S.Ş., & Tanyaş, M. (2007). Integrating HoshinKanri and the balanced scorecard for strategic management: The case of higher education. Total Quality Management, 18(9), 999-1014. https://doi.org/10.1080/14783360701592604
Atkinson, H. (2006). Strategy implementation: a role for the balanced scorecard?.Management Decision, 44(10), 1441-1460. https://doi:10.1108/00251740610715740
Ax, C., & Bjørnenak, T. (2005). Bundling and diffusion of management accounting innovations—the case of the balanced scorecard in Sweden. Management Accounting Research, 16(1), 1-20. https://doi.org./10.1016/j.mar.2004.12.002
Banker, R.D., Chang, H., & Pizzini, M.J. (2004). The balanced scorecard: Judgmental effects of performance measures linked to strategy. The Accounting Review, 79(1), 1-23. https://doi.org/10.2308/accr.2004.79.1.1
Barnabè, F. (2011). A “system dynamics-based Balanced Scorecard” to support strategic decision making: Insights from a case study. International Journal of Productivity and Performance Management, 60(5), 446-473. https://doi:10.1108/17410401111140383
Basu, R., Little, C., & Millard, C. (2009). Case study: A fresh approach of the Balanced Scorecard in the Heathrow Terminal 5 project. Measuring Business Excellence, 13(4), 22-33, https://doi:10.1108/13683040911006765
Basuony, M.A.K. (2014). The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application. Accounting and Finance Research, 3 (2), 14-22. https://doi.org/10.5430/afr.v3n2p14
Behery, M., Jabeen, F., & Parakandi, M. (2014). Adopting a contemporary performance management system: A fast-growth small-to-medium enterprise (FGSME) in the UAE. International Journal of Productivity and Performance Management, 63(1), 22-43. https://doi.org/10.1108/IJPPM-07-2012-0076
Bento, R.F., Mertins, L., & White, L.F. (2017). Ideology and the balanced scorecard: An empirical exploration of the tension between shareholder value maximization and corporate social responsibility. Journal of Business Ethics, 142(4), 769-789. https://doi:10.1007/s10551-016-3053-6
Bessire, D., & Baker, C.R. (2005). The French Tableau de bord and the American Balanced Scorecard: a critical analysis. Critical Perspectives on Accounting, 16(6), 645-664. https://doi:10.1016/j.cpa.2004.01.004
Bose, S., & Thomas, K. (2007). Applying the balanced scorecard for better performance of intellectual capital. Journal of intellectual capital, 8(4), 653-665. https://doi.org/10.1108/14691930710830819
Brignall, S. (2002). The Unbalanced Scorecard: A social and environmental critique. Proceedings of the Performance Measurement Association Conference, 3rd, 85-92. https://diblokdcma.files.wordpress.com/2009/08/unbalanced-scorecard.pdf
Budde, J. (2007). Performance measure congruity and the balanced scorecard. Journal of Accounting Research, 45(3), 515-539. https://doi:10.1111/j.1475-679X.2007.00246.x
Busco, C., & Quattrone, P. (2015). Exploring how the Balanced Scorecard engages and unfolds: Articulating the visual power of accounting inscriptions. Contemporary Accounting Research, 32(3), 1236-1262. https://doi:10.1111/1911-3846.12105
Chang, W.C., Tung, Y.C., Huang, C.H., & Yang, M.C. (2008). Performance improvement after implementing the Balanced Scorecard: A large hospital's experience in Taiwan. Total Quality Management, 19(11), 1143-1154. https://doi.org/10.1080/14783360802323560
Chen, T.Y., Chen, C.B., & Peng, S.Y. (2008). Firm operation performance analysis using data envelopment analysis and balanced scorecard: A case study of a credit cooperative bank. International Journal of Productivity and Performance Management, 57(7), 523-539. https://doi.org/10.1108/17410400810904010
Chen, Y., Jermias, J., & Panggabean, T. (2016). The role of visual attention in the managerial Judgment of Balanced‐Scorecard performance evaluation: Insights from using an eye‐tracking device. Journal of accounting research, 54(1), 113-146. https://doi:10.1111/1475-679X.12102
Cheng, M.M., & Humphreys, K.A. (2012). The differential improvement effects of the strategy map and scorecard perspectives on managers’ strategic judgments. The Accounting Review, 87(3), 899-924. https://doi.org/10.2308/accr-10212
Chiang, C.Y., & Lin, B. (2009). An integration of balanced scorecards and data envelopment analysis for firm's benchmarking management. Total Quality Management, 20(11), 1153-1172. https://doi.org/10.1080/14783360903248286
Cooper, D.J., Ezzamel, M., & Qu, S.Q. (2017). Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), 991-1025. https://doi.org/10.1111/1911-3846.12299
Craig, J., & Moores, K. (2005). Balanced scorecards to drive the strategic planning of family firms. Family Business Review, 18(2), 105-122. https://doi.org/10.1111%2Fj.1741-6248.2005.00035.x
Davis, S., & Albright, T. (2004). An investigation of the effect of balanced scorecard implementation on financial performance. Management Accounting Research, 15(2), 135-153. https://doi:10.1016/j.mar.2003.11.001
Dinesh, D., & Palmer, E. (1998). Management by objectives and the Balanced Scorecard: will Rome fall again?. Management Decision, 36(6), 363-369. https://doi.org/10.1108/00251749810223529
Ding, S., & Beaulieu, P. (2011). The role of financial incentives in balanced scorecard‐based performance evaluations: Correcting mood congruency biases. Journal of Accounting Research, 49(5), 1223-1247. https://doi:10.1111/j.1475-679X.2011.00421.x
Dror, S. (2008). The Balanced Scorecard versus quality award models as strategic frameworks. Total Quality Management& Business Excellence, 19(6), 583-593. http://dx.doi.org/10.1080/14783360802024366
Elbanna, S., Eid, R., & Kamel, H. (2015). Measuring hotel performance using the balanced scorecard: A theoretical construct development and its empirical validation. International Journal of Hospitality Management, 51, 105-114. https://doi.org/10.1016/j.ijhm.2015.09.004
Ennas, G., & Di Guardo, M.C. (2015). Features of top-rated gold open access journals: An analysis of the Scopus database. Journal of Informetrics, 9(1), 79-89. https://doi.org/10.1016/j.joi.2014.11.007
Galindo, G., Yie, R.D., Ditta, A., Ruiz, M., & Varela, A. (2018). Gender difference in publication among recent OR/MS scientific publications in top journals. Revista ESPACIOS, 39(47). http://www.revistaespacios.com/a18v39n47/18394720.html
Garengo, P., &Biazzo, S. (2012). Unveiling strategy in SMEs through balanced scorecard implementation: A circular methodology. Total Quality Management & Business Excellence, 23(1), 79-102. https://doi.org/10.1080/14783363.2011.637800
Gumbus, A., & Lussier, R.N. (2006). Entrepreneurs use a balanced scorecard to translate strategy into performance measures. Journal of Small Business Management, 44(3), 407-425. https://doi.org/10.1111/j.1540-627X.2006.00179.x
Gumbus, A., & Lyons, B. (2002). The balanced scorecard at Philips Electronics. Strategic Finance-Montvale, 84, 45-49. https://pdfs.semanticscholar.org/78d1/83e58794f5a5f7de3768a1353a8cdca539a1.pdf
Gurd, B., & Gao, T. (2007). Lives in the balance: an analysis of the balanced scorecard (BSC) in healthcare organizations. International Journal of Productivity and Performance Management, 57(1), 6-21, 1741-0401. https://doi:10.1108/17410400810841209
Gurd, B., & Ifandoudas, P. (2014). Moving towards agility: the contribution of a modified balanced scorecard system. Measuring Business Excellence, 18(2), 1-13. https://doi.org/10.1108/MBE-10-2012-0052
Hansen, E.G., & Schaltegger, S. (2016). The sustainability balanced scorecard: A systematic review of architectures. Journal of Business Ethics, 133(2), 193-221. https://doi:10.1007/s10551-014-2340-3
Hoque, Z. (2003). Total quality management and the balanced scorecard approach: a critical analysis of their potential relationships and directions for research. Critical Perspectives on Accounting, 14(5), 553-566. https://doi:10.1016/S1045-2354(02)00160-0
Hoque, Z. (2014). 20 years of studies on the balanced scorecard: trends, accomplishments, gaps and opportunities for future research. The British accounting review, 46(1), 33-59. https://doi.org/10.1016/j.bar.2013.10.003
Hu, Y., Wen, J., & Yan, Y. (2015). Measuring the performance of knowledge resources using a value perspective: integrating BSC and ANP. Journal of Knowledge Management, 19(6), 1250-1272. https://doi.org/10.1108/JKM-10-2014-0431
Ittner, C.D., Larcker, D.F., & Meyer, M.W. (2003). Subjectivity and the weighting of performance measures: Evidence from a balanced scorecard. The Accounting Review, 78(3), 725-758. https://doi.org/10.2308/accr.2003.78.3.725
Jayashree, P., & Jamal H.S. (2011). Aligning change deployment: A Balanced Scorecard approach. Measuring Business Excellence, 15(3), 63-85. https://doi.org/10.1108/13683041111161166
Johanson, U., Skoog, M., Backlund, A., & Almqvist, R. (2006). Balancing dilemmas of the balanced scorecard. Accounting, Auditing and Accountability Journal, 19(6), 842-857. https://doi.org/10.1108/09513570610709890
Kang, J.S., Chiang, C.F., Huangthanapan, K., & Downing, S. (2015). Corporate social responsibility and sustainability balanced scorecard: The case study of family-owned hotels. International Journal of Hospitality Management, 48, 124-134. https://doi.org/10.1016/j.ijhm.2015.05.001
Kaplan, R.S., & Norton, D.P. (1992). The balanced scorecard - Measures that drive performance. Harvard Business Review (January-February), 71-79. http://planuba.orientaronline.com.ar/wp-content/uploads/2010/03/harvard-business-review-kaplan-norton-the-balanced-scorecard-measures-that-drive-performance.pdf
Kaplan, R.S. & Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action. Boston, MA: Harvard Business School Press
Kaplan, R.S. & Norton, D.P. (2001). The Strategy Focused Organization, Boston: Harvard Business School Press.
Kaplan, R.S. & Norton, D.P. (2004). The Strategy Map: Guide to Aligning Intangible Assets. Strategy and Leadership, 32(5), 10–17. https://doi.org/10.1108/10878570410699825
Kurtzman, J. (1997). Is Your Company Off Course? Now You Can Find out Why. Fortune, .128–130. http://archive.fortune.com/magazines/fortune/fortune_archive/1997/02/17/222180/index.htm
Lawrence, S., & Sharma, U. (2002). Commodification of education and academic labour—using the balanced scorecard in a university setting. Critical Perspectives on Accounting, 13(5-6), 661-677. https://doi:10.1006/cpac.2002.0562
Lawrie, G., & Cobbold, I. (2004). Third-generation balanced scorecard: evolution of an effective strategic control tool. International Journal of Productivity and Performance Management, 53(7), 611-623, 1741-0401. https://doi:10.1108/17410400410561231
Letza, S.R. (1996). The design and implementation of the balanced business scorecard: An analysis of three companies in practice. Business Process Re-engineering and Management Journal, 2(3), 54-76.https://doi.org/10.1108/14637159610151217
Ling S.K., & Chye K.H. (2001). Balanced scorecard: a rising trend in strategic performance measurement. Measuring Business Excellence, 5(2), 18-27. https://doi.org/10.1108/13683040110397248
Lipe, M. G., & Salterio, S. E. (2000). The balanced scorecard: Judgmental effects of common and unique performance measures. The Accounting Review, 75(3), 283-298. https://doi.org/10.2308/accr.2000.75.3.283
Llach, J., Bagur, L., Perramon, J., & Marimon, F. (2017). Creating value through the balanced scorecard: how does it work?. Management Decision, 55(10), 2181-2199. https://doi.org/10.1108/MD-11-2016-0812
Malagueño, R., Lopez-Valeiras, E., & Gomez-Conde, J. (2018). Balanced scorecard in SMEs: effects on innovation and financial performance. Small Business Economics, 51(1), 221-244. https://doi:10.1007/s11187-017-9921-3
Malmi, T. (2001). Balanced scorecards in Finnish companies: a research note. Management Accounting Research, 12(2), 207-220. https://doi.org/10.1006/mare.2000.0154
Marr, B., & Adams, C. (2004). The balanced scorecard and intangible assets: similar ideas, unaligned concepts. Measuring Business Excellence, 8(3), 18-27. https://doi.org/10.1108/13683040410555582
Marr, B., & Schiuma, G. (2003). Business performance measurement–past, present and future. Management Decision, 41(8), 680-687. https://doi.org/10.1108/00251740310496198
Massingham, R., Massingham, P.R., & Dumay, J. (2019). Improving integrated reporting: a new learning and growth perspective for the balanced scorecard. Journal of Intellectual Capital, 20(1), 60-82. https://doi.org/10.1108/JIC-06-2018-0095
Mehralian, G., Nazari, J.A., Nooriparto, G., & Rasekh, H.R. (2017). TQM and organizational performance using the balanced scorecard approach. International Journal of Productivity and Performance Management, 66(1), 111-125. https://doi.org/10.1108/IJPPM-08-2015-0114
Mistry, J. (2003). Performance measurement in the ecommerce industry. Journal of Business and Economics Research, 1(11), 33- 42. https://clutejournals.com/index.php/JBER/article/download/3067/3115
Modell, S. (2009). Bundling management control innovations: A field study of organisational experimenting with total quality management and the balanced scorecard. Accounting, Auditing and Accountability Journal, 22(1), 59-90. https://doi.org/10.1108/09513570910923015
Moullin, M. (2017). Improving and evaluating performance with the Public Sector Scorecard. International Journal of Productivity and Performance Management, 66(4), 442-458. https://doi.org/10.1108/IJPPM-06-2015-0092
Mouritsen, J., Thorsgaard Larsen, H., & Bukh, P. N. (2005). Dealing with the knowledge economy: intellectual capital versus balanced scorecard. Journal of Intellectual Capital, 6(1), 8-27. https://doi.org/10.1108/14691930510574636
Neely, A., Kennerley, M., & Martinez, V. (2004). Does the balanced scorecard work: An empirical investigation?. Presented at the European Operations Management Association (EurOMA) International Conference, Fontainebleau, June, 27-29. https://pdfs.semanticscholar.org/40cc/00af42a4f4ffc11f09ecf3101dd7b2205664.pdf?_ga=2.87235800.1535796086.1579230772-1351810714.1564589877
Nielsen, C., Lund, M., & Thomsen, P. (2017). Killing the balanced scorecard to improve internal disclosure. Journal of Intellectual Capital, 18(1), 45-62. https://doi.org/10.1108/JIC-02-2016-0027
Norreklit, H. (2000). The balance on the balanced scorecard a critical analysis of some of its assumptions. Management Accounting Research, 11(1), 65-88.https://doi.org/10.1006/mare.1999.0121
Nørreklit, H. (2003). The balanced scorecard: what is the score? A rhetorical analysis of the balanced scorecard. Accounting, Organizations and Society, 28(6), 591-619. https://doi.org/10.1016/S0361-3682(02)00097-1
Othman, R. (2006). Balanced scorecard and causal model development: preliminary findings. Management Decision, 44(5), 690-702. https://doi.org/10.1108/00251740610668923
Othman, R. (2008). Enhancing the effectiveness of the balanced scorecard with scenario planning. International Journal of Productivity and Performance Management, 57(3), 259-266. https://doi.org/10.1108/17410400810857266
Perkins, M., Grey, A., & Remmers, H. (2014) What do we really mean by “Balanced Scorecard”?.International Journal of Productivity and Performance Management, 63(2), 148-169. https://doi.org/10.1108/IJPPM-11-2012-0127
Perramon, J., Rocafort, A., Bagur-Femenias, L., & Llach, J. (2016). Learning to create value through the ‘balanced scorecard' model: an empirical study. Total Quality Management and Business Excellence, 27(9-10), 1121-1139. https://doi.org/10.1080/14783363.2015.1060853
Rich, V. (2007). Interpreting the balanced scorecard: an investigation into performance analysis and bias. Measuring Business Excellence, 11(1), 4-11. https://doi.org/10.1108/13683040710740871
Schneider, R., & Vieira, R. (2010). Insights from action research: implementing the balanced scorecard at a wind-farm company. International Journal of Productivity and Performance Management, 59(5), 493-507. https://doi.org/10.1108/17410401011052904
Soderberg, M., Kalagnanam, S., Sheehan, N.T., & Vaidyanathan, G. (2011). When is a balanced scorecard a balanced scorecard?. International Journal of Productivity and Performance Management, 60(7), 688-708. https://doi.org/10.1108/17410401111167780
Speckbacher, G., Bischof, J., & Pfeiffer, T. (2003). A descriptive analysis on the implementation of balanced scorecards in German-speaking countries. Management Accounting Research, 14(4), 361-388. https://doi.org/10.1016/j.mar.2003.10.001
Sprinkle, G.B., & Williamson, M.G. (2007). Experimental research in management accounting. In Chapman, C.S., Hopwood, A.G., & Shields, M.D. (Eds.), Handbook of Management Accounting. Oxford, U.K.: Elsevier.
Tayler, W.B. (2010). The balanced scorecard as a strategy-evaluation tool: The effects of implementation involvement and a causal-chain focus. The Accounting Review, 85(3), 1095-1117. https://doi.org/10.2308/accr.2010.85.3.1095
Thakkar, J., Deshmukh, S.G., Gupta, A.D., & Shankar, R. (2006). Development of a balanced scorecard: an integrated approach of interpretive structural modeling (ISM) and analytic network process (ANP). International Journal of Productivity and Performance Management, 56(1), 25-59. https://doi.org/10.1108/17410400710717073
Upton, D. R., & Arrington, C. E. (2012). Implicit racial prejudice against African-Americans in balanced scorecard performance evaluations. Critical Perspectives on Accounting, 23(4-5), 281-297. https://doi.org/10.1016/j.cpa.2012.01.002
Urrutia, I. & Eriksen, S.D. (2005). Application of the balanced scorecard in Spanish private health-care management. Measuring Business Excellence, 9(4), 16-26. https://doi.org/10.1108/13683040510634808
Valmohammadi, C., & Servati, A. (2011). Performance measurement system implementation using Balanced Scorecard and statistical methods. International Journal of Productivity and Performance Management, 60(5), 493-511. https://doi.org/10.1108/17410401111140400
Vermaak, F.N., &Cronje, C.J. (2001). The balanced scorecard as a potential instrument for supporting the planning and improvement of accounting education in South Africa. Meditari Accountancy Research, 9(1), 301-312. https://doi.org/10.1108/1022252920010016
Voelpel, S.C., Leibold, M., & Eckhoff, R.A. (2006). The tyranny of the Balanced Scorecard in the innovation economy. Journal of Intellectual Capital, 7(1), 43-60. https://doi.org/10.1108/14691930610639769
Wang, W. (2005). An evaluation of the Balanced Scorecard® in equity valuation: The case of exchange ratio in the M&As of Taiwan's financial industry. Journal of Intellectual Capital, 6(2), 206-221. https://doi.org/10.1108/14691930510592807
Wongrassamee, S., Simmons, J.E., & Gardiner, P.D. (2003). Performance measurement tools: The Balanced Scorecard and the EFQM Excellence Model. Measuring business excellence, 7(1), 14-29. https://doi.org/10.1108/13683040310466690
Wu, A. (2005). The integration between balanced scorecard and intellectual capital. Journal of Intellectual Capital, 6(2), 267-284. https://doi.org/10.1108/14691930510592843
AndjelkovicPesic, M., & Dahlgaard, J.J. (2013). Using the Balanced Scorecard and the European Foundation for quality management excellence model as a combined roadmap for diagnosing and attaining excellence. Total Quality Management & Business Excellence, 24(5-6), 652-663.https://doi.org/10.1080/14783363.2013.791109
Antonsen, Y. (2014). The downside of the Balanced Scorecard: A case study from Norway. Scandinavian Journal of Management, 30(1), 40-50. https://doi.org/10.1016/j.scaman.2013.08.001
Asan, S.Ş., & Tanyaş, M. (2007). Integrating HoshinKanri and the balanced scorecard for strategic management: The case of higher education. Total Quality Management, 18(9), 999-1014. https://doi.org/10.1080/14783360701592604
Atkinson, H. (2006). Strategy implementation: a role for the balanced scorecard?.Management Decision, 44(10), 1441-1460. https://doi:10.1108/00251740610715740
Ax, C., & Bjørnenak, T. (2005). Bundling and diffusion of management accounting innovations—the case of the balanced scorecard in Sweden. Management Accounting Research, 16(1), 1-20. https://doi.org./10.1016/j.mar.2004.12.002
Banker, R.D., Chang, H., & Pizzini, M.J. (2004). The balanced scorecard: Judgmental effects of performance measures linked to strategy. The Accounting Review, 79(1), 1-23. https://doi.org/10.2308/accr.2004.79.1.1
Barnabè, F. (2011). A “system dynamics-based Balanced Scorecard” to support strategic decision making: Insights from a case study. International Journal of Productivity and Performance Management, 60(5), 446-473. https://doi:10.1108/17410401111140383
Basu, R., Little, C., & Millard, C. (2009). Case study: A fresh approach of the Balanced Scorecard in the Heathrow Terminal 5 project. Measuring Business Excellence, 13(4), 22-33, https://doi:10.1108/13683040911006765
Basuony, M.A.K. (2014). The Balanced Scorecard in Large Firms and SMEs: A Critique of the Nature, Value and Application. Accounting and Finance Research, 3 (2), 14-22. https://doi.org/10.5430/afr.v3n2p14
Behery, M., Jabeen, F., & Parakandi, M. (2014). Adopting a contemporary performance management system: A fast-growth small-to-medium enterprise (FGSME) in the UAE. International Journal of Productivity and Performance Management, 63(1), 22-43. https://doi.org/10.1108/IJPPM-07-2012-0076
Bento, R.F., Mertins, L., & White, L.F. (2017). Ideology and the balanced scorecard: An empirical exploration of the tension between shareholder value maximization and corporate social responsibility. Journal of Business Ethics, 142(4), 769-789. https://doi:10.1007/s10551-016-3053-6
Bessire, D., & Baker, C.R. (2005). The French Tableau de bord and the American Balanced Scorecard: a critical analysis. Critical Perspectives on Accounting, 16(6), 645-664. https://doi:10.1016/j.cpa.2004.01.004
Bose, S., & Thomas, K. (2007). Applying the balanced scorecard for better performance of intellectual capital. Journal of intellectual capital, 8(4), 653-665. https://doi.org/10.1108/14691930710830819
Brignall, S. (2002). The Unbalanced Scorecard: A social and environmental critique. Proceedings of the Performance Measurement Association Conference, 3rd, 85-92. https://diblokdcma.files.wordpress.com/2009/08/unbalanced-scorecard.pdf
Budde, J. (2007). Performance measure congruity and the balanced scorecard. Journal of Accounting Research, 45(3), 515-539. https://doi:10.1111/j.1475-679X.2007.00246.x
Busco, C., & Quattrone, P. (2015). Exploring how the Balanced Scorecard engages and unfolds: Articulating the visual power of accounting inscriptions. Contemporary Accounting Research, 32(3), 1236-1262. https://doi:10.1111/1911-3846.12105
Chang, W.C., Tung, Y.C., Huang, C.H., & Yang, M.C. (2008). Performance improvement after implementing the Balanced Scorecard: A large hospital's experience in Taiwan. Total Quality Management, 19(11), 1143-1154. https://doi.org/10.1080/14783360802323560
Chen, T.Y., Chen, C.B., & Peng, S.Y. (2008). Firm operation performance analysis using data envelopment analysis and balanced scorecard: A case study of a credit cooperative bank. International Journal of Productivity and Performance Management, 57(7), 523-539. https://doi.org/10.1108/17410400810904010
Chen, Y., Jermias, J., & Panggabean, T. (2016). The role of visual attention in the managerial Judgment of Balanced‐Scorecard performance evaluation: Insights from using an eye‐tracking device. Journal of accounting research, 54(1), 113-146. https://doi:10.1111/1475-679X.12102
Cheng, M.M., & Humphreys, K.A. (2012). The differential improvement effects of the strategy map and scorecard perspectives on managers’ strategic judgments. The Accounting Review, 87(3), 899-924. https://doi.org/10.2308/accr-10212
Chiang, C.Y., & Lin, B. (2009). An integration of balanced scorecards and data envelopment analysis for firm's benchmarking management. Total Quality Management, 20(11), 1153-1172. https://doi.org/10.1080/14783360903248286
Cooper, D.J., Ezzamel, M., & Qu, S.Q. (2017). Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), 991-1025. https://doi.org/10.1111/1911-3846.12299
Craig, J., & Moores, K. (2005). Balanced scorecards to drive the strategic planning of family firms. Family Business Review, 18(2), 105-122. https://doi.org/10.1111%2Fj.1741-6248.2005.00035.x
Davis, S., & Albright, T. (2004). An investigation of the effect of balanced scorecard implementation on financial performance. Management Accounting Research, 15(2), 135-153. https://doi:10.1016/j.mar.2003.11.001
Dinesh, D., & Palmer, E. (1998). Management by objectives and the Balanced Scorecard: will Rome fall again?. Management Decision, 36(6), 363-369. https://doi.org/10.1108/00251749810223529
Ding, S., & Beaulieu, P. (2011). The role of financial incentives in balanced scorecard‐based performance evaluations: Correcting mood congruency biases. Journal of Accounting Research, 49(5), 1223-1247. https://doi:10.1111/j.1475-679X.2011.00421.x
Dror, S. (2008). The Balanced Scorecard versus quality award models as strategic frameworks. Total Quality Management& Business Excellence, 19(6), 583-593. http://dx.doi.org/10.1080/14783360802024366
Elbanna, S., Eid, R., & Kamel, H. (2015). Measuring hotel performance using the balanced scorecard: A theoretical construct development and its empirical validation. International Journal of Hospitality Management, 51, 105-114. https://doi.org/10.1016/j.ijhm.2015.09.004
Ennas, G., & Di Guardo, M.C. (2015). Features of top-rated gold open access journals: An analysis of the Scopus database. Journal of Informetrics, 9(1), 79-89. https://doi.org/10.1016/j.joi.2014.11.007
Galindo, G., Yie, R.D., Ditta, A., Ruiz, M., & Varela, A. (2018). Gender difference in publication among recent OR/MS scientific publications in top journals. Revista ESPACIOS, 39(47). http://www.revistaespacios.com/a18v39n47/18394720.html
Garengo, P., &Biazzo, S. (2012). Unveiling strategy in SMEs through balanced scorecard implementation: A circular methodology. Total Quality Management & Business Excellence, 23(1), 79-102. https://doi.org/10.1080/14783363.2011.637800
Gumbus, A., & Lussier, R.N. (2006). Entrepreneurs use a balanced scorecard to translate strategy into performance measures. Journal of Small Business Management, 44(3), 407-425. https://doi.org/10.1111/j.1540-627X.2006.00179.x
Gumbus, A., & Lyons, B. (2002). The balanced scorecard at Philips Electronics. Strategic Finance-Montvale, 84, 45-49. https://pdfs.semanticscholar.org/78d1/83e58794f5a5f7de3768a1353a8cdca539a1.pdf
Gurd, B., & Gao, T. (2007). Lives in the balance: an analysis of the balanced scorecard (BSC) in healthcare organizations. International Journal of Productivity and Performance Management, 57(1), 6-21, 1741-0401. https://doi:10.1108/17410400810841209
Gurd, B., & Ifandoudas, P. (2014). Moving towards agility: the contribution of a modified balanced scorecard system. Measuring Business Excellence, 18(2), 1-13. https://doi.org/10.1108/MBE-10-2012-0052
Hansen, E.G., & Schaltegger, S. (2016). The sustainability balanced scorecard: A systematic review of architectures. Journal of Business Ethics, 133(2), 193-221. https://doi:10.1007/s10551-014-2340-3
Hoque, Z. (2003). Total quality management and the balanced scorecard approach: a critical analysis of their potential relationships and directions for research. Critical Perspectives on Accounting, 14(5), 553-566. https://doi:10.1016/S1045-2354(02)00160-0
Hoque, Z. (2014). 20 years of studies on the balanced scorecard: trends, accomplishments, gaps and opportunities for future research. The British accounting review, 46(1), 33-59. https://doi.org/10.1016/j.bar.2013.10.003
Hu, Y., Wen, J., & Yan, Y. (2015). Measuring the performance of knowledge resources using a value perspective: integrating BSC and ANP. Journal of Knowledge Management, 19(6), 1250-1272. https://doi.org/10.1108/JKM-10-2014-0431
Ittner, C.D., Larcker, D.F., & Meyer, M.W. (2003). Subjectivity and the weighting of performance measures: Evidence from a balanced scorecard. The Accounting Review, 78(3), 725-758. https://doi.org/10.2308/accr.2003.78.3.725
Jayashree, P., & Jamal H.S. (2011). Aligning change deployment: A Balanced Scorecard approach. Measuring Business Excellence, 15(3), 63-85. https://doi.org/10.1108/13683041111161166
Johanson, U., Skoog, M., Backlund, A., & Almqvist, R. (2006). Balancing dilemmas of the balanced scorecard. Accounting, Auditing and Accountability Journal, 19(6), 842-857. https://doi.org/10.1108/09513570610709890
Kang, J.S., Chiang, C.F., Huangthanapan, K., & Downing, S. (2015). Corporate social responsibility and sustainability balanced scorecard: The case study of family-owned hotels. International Journal of Hospitality Management, 48, 124-134. https://doi.org/10.1016/j.ijhm.2015.05.001
Kaplan, R.S., & Norton, D.P. (1992). The balanced scorecard - Measures that drive performance. Harvard Business Review (January-February), 71-79. http://planuba.orientaronline.com.ar/wp-content/uploads/2010/03/harvard-business-review-kaplan-norton-the-balanced-scorecard-measures-that-drive-performance.pdf
Kaplan, R.S. & Norton, D.P. (1996). The Balanced Scorecard: Translating Strategy into Action. Boston, MA: Harvard Business School Press
Kaplan, R.S. & Norton, D.P. (2001). The Strategy Focused Organization, Boston: Harvard Business School Press.
Kaplan, R.S. & Norton, D.P. (2004). The Strategy Map: Guide to Aligning Intangible Assets. Strategy and Leadership, 32(5), 10–17. https://doi.org/10.1108/10878570410699825
Kurtzman, J. (1997). Is Your Company Off Course? Now You Can Find out Why. Fortune, .128–130. http://archive.fortune.com/magazines/fortune/fortune_archive/1997/02/17/222180/index.htm
Lawrence, S., & Sharma, U. (2002). Commodification of education and academic labour—using the balanced scorecard in a university setting. Critical Perspectives on Accounting, 13(5-6), 661-677. https://doi:10.1006/cpac.2002.0562
Lawrie, G., & Cobbold, I. (2004). Third-generation balanced scorecard: evolution of an effective strategic control tool. International Journal of Productivity and Performance Management, 53(7), 611-623, 1741-0401. https://doi:10.1108/17410400410561231
Letza, S.R. (1996). The design and implementation of the balanced business scorecard: An analysis of three companies in practice. Business Process Re-engineering and Management Journal, 2(3), 54-76.https://doi.org/10.1108/14637159610151217
Ling S.K., & Chye K.H. (2001). Balanced scorecard: a rising trend in strategic performance measurement. Measuring Business Excellence, 5(2), 18-27. https://doi.org/10.1108/13683040110397248
Lipe, M. G., & Salterio, S. E. (2000). The balanced scorecard: Judgmental effects of common and unique performance measures. The Accounting Review, 75(3), 283-298. https://doi.org/10.2308/accr.2000.75.3.283
Llach, J., Bagur, L., Perramon, J., & Marimon, F. (2017). Creating value through the balanced scorecard: how does it work?. Management Decision, 55(10), 2181-2199. https://doi.org/10.1108/MD-11-2016-0812
Malagueño, R., Lopez-Valeiras, E., & Gomez-Conde, J. (2018). Balanced scorecard in SMEs: effects on innovation and financial performance. Small Business Economics, 51(1), 221-244. https://doi:10.1007/s11187-017-9921-3
Malmi, T. (2001). Balanced scorecards in Finnish companies: a research note. Management Accounting Research, 12(2), 207-220. https://doi.org/10.1006/mare.2000.0154
Marr, B., & Adams, C. (2004). The balanced scorecard and intangible assets: similar ideas, unaligned concepts. Measuring Business Excellence, 8(3), 18-27. https://doi.org/10.1108/13683040410555582
Marr, B., & Schiuma, G. (2003). Business performance measurement–past, present and future. Management Decision, 41(8), 680-687. https://doi.org/10.1108/00251740310496198
Massingham, R., Massingham, P.R., & Dumay, J. (2019). Improving integrated reporting: a new learning and growth perspective for the balanced scorecard. Journal of Intellectual Capital, 20(1), 60-82. https://doi.org/10.1108/JIC-06-2018-0095
Mehralian, G., Nazari, J.A., Nooriparto, G., & Rasekh, H.R. (2017). TQM and organizational performance using the balanced scorecard approach. International Journal of Productivity and Performance Management, 66(1), 111-125. https://doi.org/10.1108/IJPPM-08-2015-0114
Mistry, J. (2003). Performance measurement in the ecommerce industry. Journal of Business and Economics Research, 1(11), 33- 42. https://clutejournals.com/index.php/JBER/article/download/3067/3115
Modell, S. (2009). Bundling management control innovations: A field study of organisational experimenting with total quality management and the balanced scorecard. Accounting, Auditing and Accountability Journal, 22(1), 59-90. https://doi.org/10.1108/09513570910923015
Moullin, M. (2017). Improving and evaluating performance with the Public Sector Scorecard. International Journal of Productivity and Performance Management, 66(4), 442-458. https://doi.org/10.1108/IJPPM-06-2015-0092
Mouritsen, J., Thorsgaard Larsen, H., & Bukh, P. N. (2005). Dealing with the knowledge economy: intellectual capital versus balanced scorecard. Journal of Intellectual Capital, 6(1), 8-27. https://doi.org/10.1108/14691930510574636
Neely, A., Kennerley, M., & Martinez, V. (2004). Does the balanced scorecard work: An empirical investigation?. Presented at the European Operations Management Association (EurOMA) International Conference, Fontainebleau, June, 27-29. https://pdfs.semanticscholar.org/40cc/00af42a4f4ffc11f09ecf3101dd7b2205664.pdf?_ga=2.87235800.1535796086.1579230772-1351810714.1564589877
Nielsen, C., Lund, M., & Thomsen, P. (2017). Killing the balanced scorecard to improve internal disclosure. Journal of Intellectual Capital, 18(1), 45-62. https://doi.org/10.1108/JIC-02-2016-0027
Norreklit, H. (2000). The balance on the balanced scorecard a critical analysis of some of its assumptions. Management Accounting Research, 11(1), 65-88.https://doi.org/10.1006/mare.1999.0121
Nørreklit, H. (2003). The balanced scorecard: what is the score? A rhetorical analysis of the balanced scorecard. Accounting, Organizations and Society, 28(6), 591-619. https://doi.org/10.1016/S0361-3682(02)00097-1
Othman, R. (2006). Balanced scorecard and causal model development: preliminary findings. Management Decision, 44(5), 690-702. https://doi.org/10.1108/00251740610668923
Othman, R. (2008). Enhancing the effectiveness of the balanced scorecard with scenario planning. International Journal of Productivity and Performance Management, 57(3), 259-266. https://doi.org/10.1108/17410400810857266
Perkins, M., Grey, A., & Remmers, H. (2014) What do we really mean by “Balanced Scorecard”?.International Journal of Productivity and Performance Management, 63(2), 148-169. https://doi.org/10.1108/IJPPM-11-2012-0127
Perramon, J., Rocafort, A., Bagur-Femenias, L., & Llach, J. (2016). Learning to create value through the ‘balanced scorecard' model: an empirical study. Total Quality Management and Business Excellence, 27(9-10), 1121-1139. https://doi.org/10.1080/14783363.2015.1060853
Rich, V. (2007). Interpreting the balanced scorecard: an investigation into performance analysis and bias. Measuring Business Excellence, 11(1), 4-11. https://doi.org/10.1108/13683040710740871
Schneider, R., & Vieira, R. (2010). Insights from action research: implementing the balanced scorecard at a wind-farm company. International Journal of Productivity and Performance Management, 59(5), 493-507. https://doi.org/10.1108/17410401011052904
Soderberg, M., Kalagnanam, S., Sheehan, N.T., & Vaidyanathan, G. (2011). When is a balanced scorecard a balanced scorecard?. International Journal of Productivity and Performance Management, 60(7), 688-708. https://doi.org/10.1108/17410401111167780
Speckbacher, G., Bischof, J., & Pfeiffer, T. (2003). A descriptive analysis on the implementation of balanced scorecards in German-speaking countries. Management Accounting Research, 14(4), 361-388. https://doi.org/10.1016/j.mar.2003.10.001
Sprinkle, G.B., & Williamson, M.G. (2007). Experimental research in management accounting. In Chapman, C.S., Hopwood, A.G., & Shields, M.D. (Eds.), Handbook of Management Accounting. Oxford, U.K.: Elsevier.
Tayler, W.B. (2010). The balanced scorecard as a strategy-evaluation tool: The effects of implementation involvement and a causal-chain focus. The Accounting Review, 85(3), 1095-1117. https://doi.org/10.2308/accr.2010.85.3.1095
Thakkar, J., Deshmukh, S.G., Gupta, A.D., & Shankar, R. (2006). Development of a balanced scorecard: an integrated approach of interpretive structural modeling (ISM) and analytic network process (ANP). International Journal of Productivity and Performance Management, 56(1), 25-59. https://doi.org/10.1108/17410400710717073
Upton, D. R., & Arrington, C. E. (2012). Implicit racial prejudice against African-Americans in balanced scorecard performance evaluations. Critical Perspectives on Accounting, 23(4-5), 281-297. https://doi.org/10.1016/j.cpa.2012.01.002
Urrutia, I. & Eriksen, S.D. (2005). Application of the balanced scorecard in Spanish private health-care management. Measuring Business Excellence, 9(4), 16-26. https://doi.org/10.1108/13683040510634808
Valmohammadi, C., & Servati, A. (2011). Performance measurement system implementation using Balanced Scorecard and statistical methods. International Journal of Productivity and Performance Management, 60(5), 493-511. https://doi.org/10.1108/17410401111140400
Vermaak, F.N., &Cronje, C.J. (2001). The balanced scorecard as a potential instrument for supporting the planning and improvement of accounting education in South Africa. Meditari Accountancy Research, 9(1), 301-312. https://doi.org/10.1108/1022252920010016
Voelpel, S.C., Leibold, M., & Eckhoff, R.A. (2006). The tyranny of the Balanced Scorecard in the innovation economy. Journal of Intellectual Capital, 7(1), 43-60. https://doi.org/10.1108/14691930610639769
Wang, W. (2005). An evaluation of the Balanced Scorecard® in equity valuation: The case of exchange ratio in the M&As of Taiwan's financial industry. Journal of Intellectual Capital, 6(2), 206-221. https://doi.org/10.1108/14691930510592807
Wongrassamee, S., Simmons, J.E., & Gardiner, P.D. (2003). Performance measurement tools: The Balanced Scorecard and the EFQM Excellence Model. Measuring business excellence, 7(1), 14-29. https://doi.org/10.1108/13683040310466690
Wu, A. (2005). The integration between balanced scorecard and intellectual capital. Journal of Intellectual Capital, 6(2), 267-284. https://doi.org/10.1108/14691930510592843