Profitability of companies that use Balanced Scorecard (BSC) versus companies that use only financial performance indicators Rentabilidade de empresas que utilizam o Balanced Scorecard (BSC) versus empresas que utilizam somente indicadores de desempenho financeiros

This study aims to verify whether there is impact difference on the profitability of companies that use financial and nonfinancial performance indicators, as proposed in the Balanced Scorecard (BSC), and companies that use only financial performance indicators. The survey includes companies listed in the magazines Valor 1000 and Exame Maiores e Melhores and, as for the sample, publicly traded companies listed in both publications, representing 169 companies. In the survey conducted to determine whether or not the company uses BSC, out of the 169 companies contacted, 65 responded and 104 did not answer the questioning. Out of the 65 respondents, 19 use BSC and 46 don′t. The indexes were extracted from the financial statements and the non-financial administration reports and explanatory notes. Three financial indicators were selected and, for the non-financial perspectives, for enterprises using BSC, through content analysis, indicators that characterize the customer perspectives were identified, as well as internal learning and growth processes. For the analysis of company results before and after the implementation of BSC, hypotheses were developed for the indicators that showed a more expressive correlation coefficient. The one-tailed test indicated a high correlation in the indicators of learning and growth perspective and a lower one from the costumer perspectives and internal processes. Although the evidences are not abundant, it was concluded that there is a difference in the profitability of enterprises that use financial and nonfinancial performance indicators compared to the ones using just the indicators of financial performance. O estudo objetiva verificar se há diferen a de impacto na rentabilidade de empresas que utilizam indicadores de desempenho financeiros e n o financeiros conforme proposto no Balanced Scorecard (BSC) e de empresas que somente utilizam indicadores de desempenho financeiros. A popula o da pesquisa compreende as empresas listadas nas revistas Valor 1000 e Exame Maiores e Melhores, e, para a amostra, as empresas de capital aberto listadas nas duas revistas, correspondendo a 169 empresas. Na sondagem realizada para saber se a empresa utiliza ou n o o BSC, das 169 empresas contatadas, 65 responderam e 104 n o responderam ao questionamento. Das 65 respondentes, 19 utilizam e 46 n o utilizam o BSC. Os índices financeiros foram extraídos das demonstra es contábeis e os n o financeiros dos relatórios da administra o e notas explicativas. Foram selecionados três indicadores financeiros e, para as perspectivas n o financeiras, n