Impact of Balanced Scorecard on Firm Value of Quoted Manufacturing Companies in Nigeria

The Nigerian Accountant, Vol. 50, No. 4, October/December 2017

7 Pages Posted: 9 Dec 2017

See all articles by Emmanuel Ikechukwu Okoye

Emmanuel Ikechukwu Okoye

Nnamdi Azikiwe University - Department of Accountancy

Austin Odum

Nnamdi Azikiwe University - Department of Accountancy

Mary-Fidelis Chidoziem Abiahu

Nnamdi Azikiwe University - Department of Accountancy

Chinwe Odum

Chukwuemeka Odumegwu Ojukwu University

Date Written: December 1, 2017

Abstract

This study seeks to assess the effect of Balanced Scorecard (BSC) on firm value based on evidence from quoted manufacturing companies in Nigeria. Secondary data constitute the main source of data collection. These data were obtained from annual reports of companies quoted on the Nigerian Stock Exchange from the year 2011 to 2015. Research tools such as descriptive statistics and multiple Square Regression analysis were used to establish the impact of Financial, Business process, Customer and Learning and growth perspectives on Firm value. The findings from the analysis have shown that firms with low business process perform significantly better and are valued higher than those firms with high business process. Thus the study encourage firms to implement Balance Score Card (BSC) since the adoption of merely one or two BSC attribute has proved to improve the organisational value.

Keywords: Balanced Scorecard, Firm Value

JEL Classification: M40, M48

Suggested Citation

Okoye, Emmanuel Ikechukwu and Odum, Austin and Abiahu, Mary-Fidelis Chidoziem and Odum, Chinwe, Impact of Balanced Scorecard on Firm Value of Quoted Manufacturing Companies in Nigeria (December 1, 2017). The Nigerian Accountant, Vol. 50, No. 4, October/December 2017, Available at SSRN: https://ssrn.com/abstract=3082807

Emmanuel Ikechukwu Okoye (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Austin Odum

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Mary-Fidelis Chidoziem Abiahu

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Chinwe Odum

Chukwuemeka Odumegwu Ojukwu University ( email )

P.M.B. 02
Uli
Nigeria

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