Applying Economic Value Added（EVA）Method to Financial Performance Evaluation for Industry Cultural Heritage Reuse of Hualien Tourism Sugar Factory

• Main Authors: Jen-chih Chao, 趙仁志
• Other Authors: Kuo-Wei Hsu
• Format: Others
• Language: zh-TW
• Published: 2010
• Online Access: http://ndltd.ncl.edu.tw/handle/48610113906677899117

碩士 === 朝陽科技大學 === 建築及都市設計研究所 === 98 === Businesses in various industries have failed these past few years and many industrial sites have been abandoned due to changes in industrial structure in Taiwan. Containing rich historical, cultural, artistic and scientific values, some industrial sites have been redeveloped with different modes. However, when evaluating the reuse of industry cultural heritage, the value affected by culture, landscape, and local development are often ignored which might cause the developmental value underestimated. Based on the related theories, literature analysis, and fieldwork, this study investigates the qualitative factors and the quantitative factors in industry cultural heritage reuse of the Hualien Tourism Sugar Factory in order to construct an Economic Value Added (EVA) financial performance evaluation model. The qualitative factors include industrial landscape and architecture, cultural property conservation, and local identity and social forces. The quantitative factors include leisure and recreation, experience economy, and cultural products. Furthermore, this study explores how those qualitative factors affect the value-added of quantitative factors and builds the financial evaluation construction. With the visitor questionnaire, the average price that the user would be willing to pay is surveyed in order to evaluate the financial performance for the renovation of the Japanese dormitories in the Hualien Tourism Sugar Factory. After onsite survey and interview, a total of 389 valid copies of the questionnaire were retrieved. The survey results indicate that the consumers'' willingness to pay for living, food and beverage, leisure and recreation, experience economy, and cultural products for the Japanese dormitories renovation at the Hualien Tourism Sugar Factory respectively. According to the trial calculation of the operating incomes and expenses, the rate of return of this investment is 13% which will be financially unfeasible and deny the renovation plan. Instead of traditional financial analysis, applying EVA evaluation, the rate of return of this investment is 32% which will be financially feasible and support the renovation plan. As shown in the financial performance evaluation for the Japanese dormitories renovation at the Hualien Tourism Sugar Factory, the EVA model considers the interaction between the qualitative factors and the quantitative factors for evaluating industries cultural heritage reuse and reveals the real value.