IMPACT OF BALANCE SCORECARD ON FINANCIAL PERFORMANCE MEASUREMENT: EVIDENCE FROM LISTED INDUSTRIAL GOODS FIRM IN NIGERIA

Abstract

This study examines the effect of the application of the financial perspective of balanced scorecard on financial performance in listed industrial goods firms in Nigeria (2016 – 2020). The population of the study consist of eleven industrial goods company listed however only one was listed within the period under review. Purposive method was used in selecting the rest ten (10) as representative sample for this study. The instrument used in data collection was secondary sources of cross-sectional and time-series data which were estimated using panel data analysis. The finding reveals that the financial perspective of the balance scorecard has positive effect on the financial performance of firms with the p-value. The study concludes that an improved performance of the balance scorecard of the organizations will bring better returns and prosperity to it. The study further encourages the financial efficiency of the industries to ensure effective improvement in the volume of the assets and the return on the assets