Future Prospects in Balanced Scorecard Research: Sustainability Perspective

Mehtap Aldogan Eklund

doi:10.28992/ijsam.v4i2.263

Abstract

This paper reviews the state of the research on a balanced scorecard (BSC) and sustainability balanced scorecard (SBSC) from 1990 to 2020. It aims to address the research question, “What are the future prospects in the BSC research from the perspective of sustainability?” using an integrative literature review method with bibliometric analysis. This study also reports the evolution and synthesis of published materials, citation analysis, themes, theories, and the literature gap and future research agenda, including the post coronavirus disease 2019 (COVID-19) sustainability crisis. The findings of this study, which aim to advance the knowledge in the field, include the developed future research framework matrix and the proposed research questions regarding the research gap in the multidimensional, multi-disciplinary, and multi-cultural empirical research. This study is considered unique owing to its comprehensive, holistic, and up-to-date structure. Furthermore, such a research design facilitates interdisciplinary, theory-driven research with the review in multiple disciplines, which is new to the accounting literature. One limitation of this study is that it is a conceptual study; however, it can pave the way for future empirical and mixed-method studies in this field.

Highlights

The root of environmental management accounting (EMA) can be traced back to the 20th century
This paper answered the research question of “what are the future prospects in the balanced scorecard research from the perspective of sustainability” by critically analyzing the content of the (S)BSC literature, recognizing the emerging themes and research gaps, and, recommending future research directions through the developed framework matrix
The future prospects in BSC research from the sustainability perspective were discussed based on the bibliometric analysis and integrative review in the previous sections

Summary

Introduction

The root of environmental management accounting (EMA) can be traced back to the 20th century. Environmental management was first initiated into management accounting to minimize waste and environmental pollution and to reduce the corporations’ environmental impact while increasing financial profitability (Bouma & Veen, 2004). The alarming evidence of the emerging environmental issues and coronavirus disease 2019 (COVID-19) crisis have proved that minimizing waste and pollution are not adequate but optimal solutions for the environment and limited natural resources are needed. COVID-19 pandemic, a sign of overexploitation of nature and the environment, has stressed the importance of sustainability (Barneveld et al, 2020; Gore & Blood, 2020). A sustainability balanced scorecard (SBSC), as an EMA tool, has gained more importance than ever post COVID-19. Balanced scorecard (BSC) and SBSC are salient practices for the environment and businesses

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