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1 Introduction Performance measurement has become more important as a tool for evaluation and reward purposes within organizations which emphasize on empowerment and decentralized decision makings, where managers are allowed to run their divisions as separate business enterprises. As a result, it is more often to reward managers based on divisional profits rather than the organization's overall performance. Traditional management accounting only uses financial performance to reward managers. However, this method is insufficient to provide a comprehensive picture of the internal activities within the organization and would encourage managers to adopt dysfunctional behaviour, such as refusing to invest in positive NPV projects to avoid lowering the overall "post investment ROI (Return on Investment)" in the division. These kinds of traditional accounting measure deficiencies have motivated a variety of performance measurement innovations ranging from "improved" financial metrics such as "Economic Value" measures to "Balanced Scorecards" of integrated financial and non-financial measures. In...

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