Sponsoring the restoration of historical and cultural heritage: a review, with a focus on quantitative methods for the evaluation of the Return On Investment

Abstract

This thesis reviews qualitative and quantitative methods, for the evaluation of the returns obtained from sponsoring the restoration of cultural heritage. I explain what investing in the conservation and valorisation of cultural heritage means, from the point of view of private companies, and then I present the Italian regulative frame for these initiatives. I discuss the different approaches for the evaluation of the returns associated to the sponsorship of restoration projects and complement the discussion presenting the analysis and findings of two case studies, where the evaluation of the returns is assessed under a qualitative and quantitative approach, respectively. Finally, I conclude discussing the potential economic convenience of sponsoring the restoration of cultural heritage.