CAJ | 학술논문

本文选取模糊层次分析法和熵权法结合来评价高速公路项目融资风险，该评价方法既客观又合理，能够在事前对项目融资的风险高低做出综合评价以进行合理的投资决策。我们首先通过综合国内外高速公路项目融资实践中遇到的普遍风险，将风险划分为两个层次共7个一级指标和31个二级指标，并将风险等级划分为五个级别，选取模糊层次分析法对高速公路项目融资风险做出评价，中间采用熵权法来确定各级指标权重，将主观与客观相结合，增强评价的合理性。同时选择云南西部道路发展项目作为案例进行分析，更加清晰地阐述了模糊层次分析法和熵权法在高速公路项目融资风险评价中的运用。
본문선취모호층차분석법화적권법결합래평개고속공로항목융자풍험，해평개방법기객관우합리，능구재사전대항목융자적풍험고저주출종합평개이진행합리적투자결책。아문수선통과종합국내외고속공로항목융자실천중우도적보편풍험，장풍험화분위량개층차공7개일급지표화31개이급지표，병장풍험등급화분위오개급별，선취모호층차분석법대고속공로항목융자풍험주출평개，중간채용적권법래학정각급지표권중，장주관여객관상결합，증강평개적합이성。동시선택운남서부도로발전항목작위안례진행분석，경가청석지천술료모호층차분석법화적권법재고속공로항목융자풍험평개중적운용。
This paper combines fuzzy analytic hierarchy process(FAHP)with entropy weight method to evaluate the highway project financing risks.The combination is objective and reasonable,which enables a comprehensive evaluation of the level of project financing risks for rational investment decisions in advance.Firstly,the risks are divided into two levels which are of 7 first -class indexes and 31 second -class indexes through the practical ex-perience of highway project financing risks both in domestic and foreign countries,then the risk level is divided into five levels.FAHP is used to assess highway project financing risks,and entropy weight method to determine the weight of each index.This combination of subjective and objective methods enhances the reasonableness of the evaluation.Western Yunnan Roads Development Project is then selected as a case to elaborate the using of FAHP and entropy weight method in expressway project financing risk assessment.