Study On Ship Financing Risk Evaluation Of Shipping Enterprises Based On Gray Relation Alanalysis Method

Under the background of global economic integration, the shipping market isvery important to the development of word economic. The amount of ship finance islarge and the cycle of shipping finance is long, so the ship financing risk is high. Atthe same time, since the U.S. subprime crisis and the European debt crisis, shipfinancing of shipping enterprises encounters more trouble. Academic members paymore attention to the research on ship financing risk evaluation of, but the methodof research is single. So, evaluating ship financing risk of shipping enterprises canrich theoretical study and provide decision-useful information for users.Firstly, paper reviews scholars’ related research on ship financing riskevaluation, find the limitations of the financing risk evaluation methods, thenanalyze the applicability of gray correlation analysis method to evaluation offinancing risk. Secondly, identify the risk of financing risk of shipping enterprisesin China; select the appropriate financial and non-financial evaluation index, inorder to construct an applicable evaluation index system of ship financing risk ofshipping enterprises. Thirdly, select the relevant data of China’s listed shippingenterprises, use entropy method and factor analysis method to determine the weightof the non-financial and financial index, and calculate the gray relational degree ofshipping enterprises. Finally, rank the size of the gray relational degree; come to theevaluation result of shipping financing risk in China’s listed shipping enterprises,make recommendations to prevent the risk of ship financing.Through the research, we can find that the evaluation index system of shipfinancing risk of shipping enterprises is reasonable, and it is able to evaluate therisk of ship financing switch shipping enterprises are faced with; the evaluationresult of ship financing risk of shipping enterprises is relatively object. Informationusers can determine the ship financing risk of shipping enterprises, and makerational decisions.