Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry

Proceedings of the 9th IFIP Conference on e-Business, e-Services, and e-Society (I3E 2009)

19 Pages Posted: 15 Sep 2009 Last revised: 16 Mar 2011

See all articles by Michael Chlistalla

Michael Chlistalla

Goethe University Frankfurt Faculty of Economics and Business Administration

Torsten Schaper

Deutsche Börse Group

Date Written: September 1, 2009

Abstract

The Balanced Scorecard is a well-established tool for the management of a company as it integrates financial and non-financial perspectives. However, little attention has been given to its theoretical and conceptual valuation. We illustrate how the stakeholder value theory corresponds with the concept of the Balanced Scorecard and show the importance of underlying cause-and-effect relationships between its perspectives. For the case of the European clearing industry, which is currently facing profound changes, we present a three-phased approach how to adjust and to extend Kaplan and Norton’s original concept. We modify the generic Balanced Scorecard by adding risk management as a separate perspective and by integrating competition and IT. Based on multiple case studies, we then validate whether the modified Balanced Scorecard is suited to meet the specifics of the clearing industry.

Keywords: Performance Measurement, Clearing, Network Industry

JEL Classification: G1, L2

Suggested Citation

Chlistalla, Michael and Schaper, Torsten, Modifying the Balanced Scorecard for a Network Industry - The Case of the Clearing Industry (September 1, 2009). Proceedings of the 9th IFIP Conference on e-Business, e-Services, and e-Society (I3E 2009). Available at SSRN: https://ssrn.com/abstract=1473728

Michael Chlistalla (Contact Author)

Goethe University Frankfurt Faculty of Economics and Business Administration ( email )

Grueneburgplatz 1
Frankfurt am Main, 60323
Germany

HOME PAGE: http://www.efinancelab.de/no_cache/team/?user_wiwipubs_pi2[showUid]=686

Torsten Schaper

Deutsche Börse Group ( email )

Frankfurt, 60485
Germany

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