Assessment of Shipping Enterprise's Operational Risks Based on Principal Component Analysis
Publication: ICLEM 2010: Logistics For Sustained Economic Development: Infrastructure, Information, Integration
Abstract
Shipping industry is a high-input and low-return capital intensive industry, which determines that it will undertake more risks in the operational process. Thus how to correctly assess the operational risks of a shipping enterprise and to take appropriate preventive measures means inevitable and important for shipping enterprises to resist risks. The article innovatively made a quantitative research on shipping enterprise's risk composition and the overall risk level in the shipping industry based on principal component analysis method. An algorithm is designed to solve the problem on SPSS, which has a certain reference value for shipping enterprises to correctly and effectively carry out operational risks assessment. After that, an illustrative example in which the data come from the real-life shipping enterprises of China is introduced to testify the proposed approach. Also, the results provide basis for shipping enterprises to formulate effective operational management strategies and risk aversion measures.
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ICLEM 2010: Logistics For Sustained Economic Development: Infrastructure, Information, Integration
Pages: 3844 - 3850
Copyright
© 2010 American Society of Civil Engineers.
History
Published online: Apr 26, 2012
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