BSC의 도입이 중국기업 경영성과에 미치는 영향

Abstract

BSC(Balanced Scorecard) has been considered one of most important management tools in the past 75 years. Literature shows many companies think BSC has brought break through results. Among 25 global management frameworks, BSC takes the fifth place in terms of rate of utilization. BSC has become the most popular and efficient tool. Along with the rapid economy development, Chinese enterprises act more and more international. Since Chinese traditional business performance evaluation system and strategy implementation mechanism has could not meet the demand of management innovation and decision, Chinese enterprise should positively apply the universally accepted management tools, including BSC to improve business management level and enhance international competitiveness. The purpose of this study is whether the enterprise's operating results can be affected by the introduction of BSC. The expected result is that the Accounting results and stock price of enterprises which introduced BSC would be better than the enterprises which does not introduced BSC. We hope that BSC could be introduced by lots of Chinese enterprises, which can contribute to the performance of enterprises in China. The specific expressed as follows: 1) the introduction of BSC has influence on the accounting results of the enterprises in China 2) It can affect the market outcomes by the introduction of BSC in China enterprises. The results of this study show that, to the enterprises which introduced BSC, there is significant correlation between current and future accounting performance and the performance of the stock market. The results of this study can be summarized as follows:

First, firms which use BSC are significantly, but negatively associated with ROAit and ROAit+1, so hypothesis 1-1 was rejected. Second, firms which use BSC are significantly, and positively associated with ROEit and ROEit+1, so hypothesis 1-2 was supported. Third, firms which use BSC are significantly, and positively associated with EPSit and EPSit+1, so hypothesis 2-1 was supported. Forth, firms which use BSC are significantly, and positively associated with OPERATINGit and OPERATINGit+1, so hypothesis 2-2 was supported.

The limitation of this study is that, BSC is not introduced by many enterprises in China, which may lead to the decline of the reliability of our results, the sample number should be enlarged in future researches. Secondly, limitation is the distinction of BSC introducing is not so clear, the BSC is introduced by the entire firm, or just some department. Since the collection of the debt rate, the size of the company, and the growth opportunity of the enterprises was made under a indecisive division about the introduction of BSC, the reliability of this study may be reduced. In the future work, we could compare the performance of enterprises in China before and after introducing BSC, and for the enterprises which introduced BSC, the further study could go for the influencing factors of the enterprise's external performance.