.3.1. Balanced scorecard and causal relationships
According to Kaplan and Norton, there exists a causal relationship
between indicators in the BSC (Kaplan and Norton, 2001,
2004). The direction of causal relationship usually proceeds from
Learning & Growth through Internal Business to Customers and
finally to the Financial dimension. Even though this path has
already been tested and confirmed by many prior studies and is not
the main focus of this research, the insertion of this path relationship
into the model will lead to more accurate results. This study’s
hypotheses are as follows:
H1. There exists a positive relationship between the Learning &
Growth and Internal Business dimensions.
H2. There exists a positive relationship between the Internal Business
and Customer dimensions.
H3. There exists a positive relationship between the Customer
and Financial dimensions.
2.3.2. Effects of CSR on balanced scorecard dimensions