Financial and Non-Financial Evaluation of Market Performance of Service Companies Quoted in Nigeria: Balance Scorecard Approach
The traditional evaluation of organizations from the market performance perspective has been criticized widely, necessitating a more comprehensive an all-inclusive performance evaluation using balance score that considers financial and non-financial performance of organizations. On this premise, this study examined the effect of balance scorecard on market performance of service companies quoted in Nigeria. The study employed survey research design, using structured questionnaire. The population consisted of 9,485 active employees of the 25 quoted service companies with offices in Lagos State. Descriptive and inferential (Multiple Regression) statistics were explored in analyzing the data. The study found that balance scorecard equally revealed a positive significant effect on market performance. It is recommended from the study that management should take competitive advantage in quality service delivery through effective performance that will enhance wealth creation and market value of the organization. Keywords: Balance scorecard, customers’ perspective, financial performance, non- financial performance, market performance. JEL Classification: M4