Performance Measurement and Financial Results in Polish Enterprises: Empirical Evidence

The paper presents results of a study, which was conducted twice, in the years 2012 and 2014, examining relationships between the solutions adopted within performance measurement systems and financial performance (profit/loss) in Polish companies. In the light of the complexity of performance measurement systems, two approaches were adopted in the study. In the first approach, the focus was on separate and most frequently used individual elements of the system, considered as important. In the second approach, three types of systems were examined; they were created and defined in the process of gradual adding new elements from among those accepted for the study. The association between variables was evaluated with Pearson's chi-squared test for independence and Tschuprow's T coefficient. The results obtained in the study do not provide a conclusive answer as to the association between given solutions adopted within performance measurement systems and financial results reported by companies. This association was found to be significant for selected elements of a performance measurement system in the study carried out in 2014. These elements include: having a strategy incorporating measurable goals, and linking performance measures to the incentive system in the group of companies whose strategies incorporate measures.