BSC 도입의 자원배분 변경효과 및 기업가치와의 관련성에 관한 연구

초록

BSC is being widely introduced as a management control device facilitating strategy implementation. This study analyses two themes. First, it questions the difference, if any, in the resource allocation; whether under BSC schemes managers increase expenditure related to nonfinancial performance, so called, knowledge asset, in terms of education, R&D, and marketing costs/expenses. Secondly, the study analyses the effect of BSC introduction on firm value measured by shareholder equity's market value. We find no evidence that BSC-adoption firms increase their expenditure, compared to prior to the adoption of BSC though BSC-adoption firms generally carry out more expenditure on knowledge asset than non-adoption firms. In spite of this result, we find that after the introduction of BSC firm value increased, suggesting the possibility of BSC introduction having a positive effect on firm value.

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