An Analysis of the China Aviation Oil (Singapore) Incident based on Risk Management
从风险管理视角解析中航油事件

This paper gives a comprehensive analysis of the China Aviation Oil(Singapore) (CAO) incident from the point of view of risk management.From qualitative aspect,we summarize the major risk sources of the CAO incident,such as moral hazard,market risk,and operational risk,and develop a risk circulation model to illustrate the evolution of risk in the CAO incident.From quantitative aspect,we apply the Value-at-Risk(VaR) technique to estimate empirically the market risk of the CAO incident by different models.Based on these qualitative and quantitative analyses,at the end of this paper we will make some political suggestions for risk regulation and inner controlling of state-own overseas enterprises.