Investigation of Relationship between Balanced Scorecard Prospects Using Accounting Numbers in the Manufacturing Companies Listed on the Stock Exchange

Separation of ownership and management caused performance evaluation to become an important issue in the field of accounting and finance. In this regard, various financial measures are introduced and used, but all of them are criticized due to the fact that they consider only one prospect of the organization (financial prospect). In order to overcome the shortcomings of financial measures, balanced scorecard was introduced as one of the best strategic performance measurement systems. In this system, the performance of organization is evaluated in four prospects: financial, internal process, customer, learning and development. This study examined the relationship between prospects of the balanced scorecard in companies listed on the Stock Exchange. Ex post facto and correlational research methods by nature of the study were used. Data collection source of the study was financial statements and explanatory notes accompanying the sample companies from 2007 to 2012. Statistical sample consisted 66 companies accepted in the Stock Exchange obtained by systematic elimination method. After collecting the data and calculating the main variables, canonical correlation method was used to test research hypotheses. Results of the study showed that there is a significant relationship between the balanced scorecard prospects while growth and learning prospect were of great importance among the 4 available prospects.