An Investigation of Leading and Lagging Indicators for Balanced Scorecard: A Meta-Analytic Approach

This study provides a comprehensive synthesis of empirical research on the Balanced Scorecard (BSC), examining the interrelationships among its four core dimensions. By employing a meta-analytic approach, the study quantifies the strength and direction of these relationships and evaluates the consistency of effect sizes across prior research. The analysis integrates findings from a broad dataset to uncover patterns that clarify how learning and growth, internal processes, customer satisfaction, and financial performance interact to drive organizational success. The results highlight the pivotal role of learning and growth in enhancing overall performance, while internal process improvements and customer satisfaction emerge as key contributors to financial health. These findings reinforce the BSC’s value as a holistic performance management framework, demonstrating that optimizing each dimension produces synergistic benefits across the organization. The study offers evidence-based insights for both scholars and practitioners, emphasizing the strategic importance of understanding these interdependencies to improve decision-making and performance management.