Evaluating the Value Relationships of Stakeholders in Urban Land Redevelopment: A Study Based on Stakeholder Value Network and Adversarial Interpretive Structure Modeling

Urbanization in China has led to scarce urban land resources, rendering urban land redevelopment (ULR) crucial for achieving efficient and sustainable land allocation. ULR involves complex value exchanges among multiple stakeholders. Previous research has primarily concentrated on direct stakeholder linkages, with few studies employing network methodologies to comprehensively depict the value relationships among stakeholders. In this study, we utilize the Stakeholder Value Network (SVN) to construct a model consisting of 8 stakeholder categories and 92 value flows; furthermore, we integrate the Adversarial Interpretive Structure Modeling (AISM) to elucidate the hierarchical relationships among key value flows, thereby exploring the process of value co-creation in ULR. The results show: (1) Capital value flows dominate among the five types of value flow, while the potential contributions of the other value flows remain underexplored. (2) Developers are central to the value network, with government departments, original land users, and builders playing key roles, whereas other stakeholders show lower engagement. (3) Key value flows can be categorized into superficial, transitional, and essential layers, with essential value flows exerting a decisive impact on the network. Our findings enhance the understanding of stakeholder value needs and offer a novel perspective for formulating and implementing ULR strategies.