Literature review :

1. Isabel Ma Prieto, Elena Revilla, (2006) "Learning capability and business performance: a non-financial and financial assessment", Learning Organization, The, Vol. 13 Iss: 2, pp.166 185 There has been little research that includes reliable deductions about the positive influence of learning capability on business performance. For this reason, the main objective of the present study is to empirically explore the link between learning capability in organizations and business performance evaluated in both financial and non-financial terms. 2. Jonas Hansson, Henrik Eriksson, (2002) "The impact of TQM on financial performance", Measuring Business Excellence, Vol. 6 Iss: 4, pp.44 54 The question of whether an adoption of total quality management (TQM) improves the financial performance has been discussed for several years. Various studies have been conducted to examine the impact of TQM on financial performance, but there is still disagreement concerning the effectiveness of TQM. This paper presents a study of Swedish quality award recipients, which are compared to branch indices and to identified competitors. The comparison concerns the development of different financial performance indicators. The study indicates that the award recipients as a group outperform the branch index and their identified competitors on most of the studied indicators. 3. David Upton, (1998) "Just-in-time and performance measurement systems", International Journal of Operations & Production Management, Vol. 18 Iss: 11, pp.1101 1110 The objective of this paper is to assess the use of performance measurement systems in firms implementing just-in-time (JIT). A mail questionnaire, with a response rate of 85 percent, was sent to larger New Zealand manufacturing companies. A total of 36 percent of the sample of companies had implemented a JIT programme. JIT firms were found to use non-financial performance indicators to a greater extent than non-JIT firms. For JIT firms there was a significant positive correlation between use of non-financial performance indicators and organisation performance. A significant positive correlation was also found between the use of non-financial performance indicators and organisation performance for all firms in the survey. Results from this study suggest that there are benefits in adapting the accounting performance measurement system to support and enhance JIT implementation. The study indicates potential benefits from the use of non-financial performance measures for both JIT and non-JIT firms.

4. Mostaque Hussain, A. Gunasekaran, Mazhar M. Islam, (2002) "Implications of nonfinancial performance measures in Finnish banks", Managerial Auditing Journal, Vol. 17 Iss: 8, pp.452 463 The inadequacies of traditional management accounting (MA) information indicate a need for management to find proper measuring tools for emerging non-financial performance (NFP) in the highly competitive financial services, as well as in the manufacturing industry. Thus, the role of MA in measuring the performances of emerging NFP has been receiving increased emphasis in the increasingly important service industries. Considering the shortcomings of the traditional MA information system, particularly the measurement of new emerging NFPs, this empirical research is an attempt to investigate the role of MA in non-financial as well as financial performance measurement (PM) in selected banks and financial institutions (BFIs) in Finland. The study demonstrates that the role of MA in non-financial PM is insignificant. However, management is paying more attention to its measurement. This study identifies three different aspects of NFP: profit-driven NFP; NFP for long-term competitive advantage; and independent NFP (those not linked with the profitability of an organisation). 5. Peter Koveos, Dipinder Randhawa, (2004) "Financial services for the poor: assessing microfinance institutions", Managerial Finance, Vol. 30 Iss: 9, pp.70 95 The objective of this study is to analyze the framework within which microfinance institutions (MFIs) deliver their services and provide an assessment of their operations and financial management. These institutions are examined because of their current importance to a special group of consumers, primarily the poor and disenfranchised in the developing world, and of their future promise as an economic development solution. Since the objective of these institutions is somewhat unique, the manner of their assessment must also differ from that used to assess the performance of traditional financial intermediaries. In particular, assessment of MFIs must recognize their dual (bank and development instrument) status. Their efficiency, then, must be analyzed in terms of its economic (or financial) dimension as well as its social dimension. The first dimension may be examined with traditional measures, while examination of the second requires measures that reflect the MFIs social objectives. In order to accommodate the special nature of MFIs, this study proposes the use of a Balanced Scorecard approach. It contributes to the study of financial institution performance by examining a non-traditional group of institutions using a variety of assessment measures. The findings should be of value to those interested in the financial sector as well as those involved in public policy decision making. 6. Ali Uyar, (2009) "Quality performance measurement practices in manufacturing companies", The TQM Journal, Vol. 21 Iss: 1, pp.72 86 The purpose of this paper is to present the results of a survey study on quality performance measurement practices in the Turkish top 500 manufacturing companies. The study evaluates both financial and non-financial aspects of quality performance measures in Turkish manufacturing companies.

7. Rosemary R. Fullerton, William F. Wempe, (2009) "Lean manufacturing, non-financial performance measures, and financial performance", International Journal of Operations & Production Management, Vol. 29 Iss: 3, pp.214 240 The purpose of this paper is to examine how utilization of non-financial manufacturing performance (NFMP) measures impacts the lean manufacturing/financial performance relationship. 8. Jos F. Molina-Azorn, Enrique Claver-Corts, Maria D. Lpez-Gamero, Juan J. Tar, (2009) "Green management and financial performance: a literature review", Management Decision, Vol. 47 Iss: 7, pp.1080 1100 The purpose of this paper is to carry out a literature review of the quantitative studies that have analyzed the impact of green management on financial performance. 9. Brent A. Gloy, Eddy L. LaDue, (2003) "Financial management practices and farm profitability", Agricultural Finance Review, Vol. 63 Iss: 2, pp.157 174 The adoption of several basic financial management practices is examined for a group of New York dairy farms. The study provides estimates of the extent to which various business analysis and control, investment analysis and decision making, and capital acquisition practices have been adopted. Many practices, such as net present value analysis, are not widely adopted by farmers. The relationship between the adoption of financial management practices and farm profitability is also examined. Results suggest that the adoption of financial management practices, such as using investment analysis techniques, significantly impacts farm financial performance. 10. Azmi Ahmad, Satish Mehra, Mark Pletcher, (2004) "The perceived impact of JIT implementation on firms financial/growth performance", Journal of Manufacturing Technology Management, Vol. 15 Iss: 2, pp.118 130 This paper argues that solely depending on short-term financial performance indicators to justify the benefits of JIT implementation is very misleading and could harm a companys future long-term survival. The empirical study presented in this paper investigated the effect of (JIT) implementation on the use of operation performance measures. Furthermore, the effect of the JIT implementation and the use of the operating performance measures on firms financial/growth performance, as perceived by the managers, was examined. These effects were measured using path analysis to show direct and indirect effects of JIT practices on the other two variables. Analyses indicate that, although correlations do exist between JIT practices and managerial perceptions of a firms financial performance, the relationships are mostly the result of spurious effects. Direct and indirect effects realized from the JIT practices on financial/growth performance are almost non-existent.

11.Rudolph A. Jacob, Christian N. Madu, Charles Tang, (2012) "Financial performance of Baldrige Award winners: a review and synthesis", International Journal of Quality & Reliability Management, Vol. 29 Iss: 2, pp.233 240 The National Commission on Fiscal Responsibility and Reform recently released a preliminary report with recommendations on cutting costs in the federal government, and one of its recommendations included the elimination of the Baldrige Performance Excellence Program, formerly known as the Malcolm Baldrige Nationality Quality Award Program. Established by an act of Congress in 1987, during the Reagan Administration, the goal of the Malcolm Baldrige Nationality Quality Award Program was to stimulate and reward product quality excellence. Since the inception of the award, however, there has been a long-standing controversy among industry leaders and academics on whether winning this award does enhance future financial performance and ultimately shareholders' wealth. This debate has again been recently fueled by the possible elimination of the program by the US government. This study, aims to shed further light on this subject by examining the academic research on the financial performance of the Baldrige Award winners. 12.Abdel K. Halabi, Rowena Barrett, Robyn Dyt, (2010) "Understanding financial information used to assess small firm performance: An Australian qualitative study", Qualitative Research in Accounting & Management, Vol. 7 Iss: 2, pp.163 - 179 The purpose of this paper is to investigate the reality of financial and management accounting in a small group of small firms. Specifically, from the owner's perspective, an exploration is undertaken to see what financial information is collected, how it is used (or not) to make business decisions and evaluate the firm's performance, and the role played by the accountant in that process. 13.Ioannis S. Papadakis, (2006) "Financial performance of supply chains after disruptions: an event study", Supply Chain Management: An International Journal, Vol. 11 Iss: 1, pp.25 33 This empirical analysis aims to shed light on the financial implications of supply chain design and in particular on the differences between pull- and push-type designs. The focus is on risk exposure to difficult to foresee supply disruptions, like those resulting from natural and manmade disasters. 14. Juanita Oeyono, Martin Samy, Roberta Bampton, (2011) "An examination of corporate social responsibility and financial performance: A study of the top 50 Indonesian listed corporations", Journal of Global Responsibility, Vol. 2 Iss: 1, pp.100 112 The increasing demand of stakeholders' interests in social performance has put pressure on corporations to undertake social responsibility reporting in their operations in order to satisfy the demands and to gain public support. Some organisations have already responded, either by publishing a separate report regarding their social activities, or by providing such information in their annual report or on their web site. However, in some developing countries such as

Indonesia, there is little or no regulation and with no expectation to follow international standards, corporations in these countries tend not to provide corporate social responsibility (CSR) reports. As there is a lack of regulatory controls in reporting CSR activities in most developing countries, the question of what the carrot is for the corporations is the crux of this research. The purpose of this paper is to investigate whether Indonesian corporations are aware of CSR

15. Sylvie Berthelot, Tania Morris, Cameron Morrill, (2010) "Corporate governance rating and financial performance: a Canadian study", Corporate Governance, Vol. 10 Iss: 5, pp.635 - 646 This paper aims to examine whether the corporate governance rankings published by a market information intermediary are reflected in the values that investors accord to firms. 16. Alan S. Dunk (2005), Financial and Non-Financial Performance: The Influence of Quality of Information System Information, Corporate Environmental Integration, Product Innovation, and Product Quality, in Marc J. Epstein, John Y. Lee (ed.) 14 (Advances in Management Accounting, Volume 14), Emerald Group Publishing Limited, pp.91-114 Issues relating to the financial and non-financial performance of firms are attracting considerable research attention. Four specific factors are focused on this paper, namely quality of information system (IS) information, corporate environmental integration, product innovation, and product quality to investigate the extent to which these variables influence financial and nonfinancial performance. All four independent variables were found to enhance the performance assessed in non-financial terms. In contrast, the results show that product innovation alone influences financial performance. The findings of this study suggest that the efficacy of these factors may be more effectively assessed by evaluating their impact on performance measured in non-financial terms, thereby suggesting that the inclusion of non-financial measures in performance evaluation models should enhance control system functioning. 17. Chris D. Storey, Christopher J. Easingwood, (1996) "Determinants of new product performance: A study in the financial services sector", International Journal of Service Industry Management, Vol. 7 Iss: 1, pp.32 55 Contributes to the growing body of information on the determinants of performance in new products. Examines a sample of typical new products (instead of the more usual comparison of successes and failures) and identifies the factors that are crucial for producing outstanding performance in the financial services sector. Shows that marketing factors (i.e. effective distribution and effective communications) are the keys to new service success. In addition demonstrates the importance of the quality of the service offered and the quality of the tangible evidence of the service as a basis of outstanding performance. These key determinants of performance need to be built on the skills of the frontline staff and the push they give to the new

product. Reiterates the importance of synergy when developing new products. Product advantage is not the key success factor, contrary to previous findings in other sectors. Attributes this to the nature of the sector studied (financial services) where sustainable competitive product advantage is rarely achieved. Makes a comparison between success factors for consumer services and industrial products/services. 18. Jeff Hoi Yan Yeung, Willem Selen, Chee-Chuong Sum, Baofeng Huo, (2006) "Linking financial performance to strategic orientation and operational priorities: An empirical study of third-party logistics providers", International Journal of Physical Distribution & Logistics Management, Vol. 36 Iss: 3, pp.210 230 Aims to investigates the relationship of strategic choices of pure cost-, pure differentiation-, or a combination-strategy on a composite measure of financial performance for third-party logistics (3PL) providers in Hong Kong. In addition, it seeks to identify the importance of operations priorities underlying the respective adopted strategy, as well as the importance given to future competitive challenges for each strategy. 19. Therese A. Joiner, X. Sarah Yang Spencer, Suzanne Salmon, (2009) "The effectiveness of flexible manufacturing strategies: The mediating role of performance measurement systems", International Journal of Productivity and Performance Management, Vol. 58 Iss: 2, pp.119 135 Against a background of a customization imperative embraced by manufacturing firms in industrialised nations and the concomitant call for more balanced performance measurement systems (PMS), this study seeks to examine the mediating role of both non-financial and financial performance measures in the relationship between a firm's strategic orientation of flexible manufacturing and organisational performance. 20. Carlos F. Gomes, Mahmoud M. Yasin, Joo V. Lisboa, (2004) "An examination of manufacturing organizations' performance evaluation: Analysis, implications and a framework for future research", International Journal of Operations & Production Management, Vol. 24 Iss: 5, pp.488 513 The utilization of financial and non-financial measures in the evaluation of manufacturing organizations' performance is studied for a sample of 79 Portuguese financial analysts. Cluster analysis and multiple regression analysis are used to study the extent of use, importance and availability of information for 63 financial and non-financial measures. The results derived from this study point to the increasing importance of non-financial measures in the evaluation of manufacturing performance. Organizational and managerial implications of the findings are discussed, and a framework for future research is presented.

21. Mathieu Winand, Thierry Zintz, Jeroen Scheerder, (2012) "A financial management tool for sport federations", Sport, Business and Management: An International Journal, Vol. 2 Iss: 3, pp.225 240 The purpose of this study is to develop a tool to manage financial performance of sport federations. It stimulates thinking about the necessity for non-profit sport organisations to develop financial performance measures and management to survive and/or to grow. 22. Halim Kazan, Gkhan zer, Ayse Tansel etin, (2006) "The effect of manufacturing strategies on financial performance", Measuring Business Excellence, Vol. 10 Iss: 1, pp.14 26 Companies must use their resources effectively and productively if they are to compete in an increasingly competitive globalized economy. Effective performance measurement can support this competitiveness. To be able to do this, companies must know the factors that influence their performance and manage these factors in an effective manner. This study seeks to investigate the effect of manufacturing strategies of manufacturing companies on their financial performance and also the effect of firm size on the impact of manufacturing strategies. 23. MAHESH JOSHI, Daryll Cahill, Jasvinder Sidhu, MONIKA KANSAL, (2013) "Intellectual Capital and Financial Performance- An Evaluation of the Australian Financial Sector", Journal of Intellectual Capital, Vol. 14 Iss: 2 The purpose of this paper is to examine the intellectual capital (IC) performance of the Australian Financial Sector for the period 2006-2008. It also aims to examine the relationship between IC performance and the financial performance of the financial sector. 24. Vedran Capkun, Ari-Pekka Hameri, Lawrence A. Weiss, (2009) "On the relationship between inventory and financial performance in manufacturing companies", International Journal of Operations & Production Management, Vol. 29 Iss: 8, pp.789 806 The purpose of this paper is to study the relationship between inventory performance, both total inventory (INV) and its discrete components (raw material (RMI), work-in-process (WIP), and finished goods (FGI)), and financial performance in manufacturing companies. 25. DW Taylor, KC Liu, (1992) "MANAGEMENT AUTONOMY AND FINANCIAL PERFORMANCE CRITERIA: THE CASE OF STATE COMMERCIAL ENTERPRISE IN CHINA", Asian Review of Accounting, Vol. 1 Iss: 1, pp.87 98 Financial performance measures of State-owned enterprise in China have assumed a more diverse role as a result of reform programmes which have introduced greater degrees of operating management autonomy, market responsibility and profit sharing incentives at the enterprise level. This paper reviews the changing role of accounting performance criteria in meeting the needs of operating managers of State enterprise who have an increased decisionmaking autonomy, while also maintaining the needs of government bureaus for financial

performance criteria related to economic planning and control at the regional and national levels. Using a case study of a State-owned department store in Guangzhou, an assessment is made of the conceptual and practical difficulties facing China's policy-makers in setting accounting ratio performance indicators for State commercial enterprises. An alternative set of primary financial performance indicators for such enterprises is constructed by considering approaches adopted in other socialist countries.