本研究採取個案研究方式，以紡織產業中的聚隆纖維公司例，藉由DCF 現金流量折現法、EVA 經濟利潤法等之評價模式進行企業評價。藉由敏感性分析及情境分析，以瞭解企業的價值驅動因子，並據以形成創造公司價值之策略。研究結果顯示，個案公司主要價值關鍵因子為銷售額及加權平均資金成本(WACC)、利潤率。最後透過關鍵因子將財務面與策略面做結合，以評價角度對公司未來之經營策略擬提出建議，如適度舉債來降低WACC，產品差異化避開削價競爭，與供應商策略聯盟提高原料議價能力，建立與下游品牌商的合作管道等。 This thesis is a case study adopting Discounted Cash Flow (DCF) model and Economic Value Added（EVA）to assess the enterprise value of Acelon Chemicals & Fiber Corp. of textile industry. Meanwhile, we would like to identify the business' value drivers via sensitivity and scenario analysis, in order to bring out the creating value strategy for the company. The result shows that the key value drivers are sales turnover, weighted average cost of capital（WACC）and operating income ratio. Finally we combine both strategic and financial aspects with key value drivers, and propose some recommendations for future managerial strategies from evaluative perspective. For examples: the company could raise funds through the debt market in order to lower WACC, differentiate its products rather than a price war, implement strategic alliance with suppliers to enhance bargaining power for the cost of raw materials, and to establish cooperation with other downstream brands.
