Constructing an assessment index system for strategic risk management in coal science and technology enterprises

Coal occupies a dominant position in China’s national economy and is an essential energy source for future industrial development. To inform the efficient and sustainable development of the coal industry, this paper analyzes the sources of strategic risk for coal science and technology enterprises using 3 first-class indicators, 10 second-level indicators, and 37 observation points established through the existing research literature and experience. Moreover, in accordance to the obtained initial index data, the selected indicators have been tested and screened using reliability and membership degree analyses to remove redundant variables, avoid juxtaposition of risk factors at different levels, and reduce the influence of some tiny risk factors for enterprise strategic risk. Then, factor analysis of external environment factor sub-scale was carried out. Factors are extracted according to a standard characteristic value greater than 1. Variables with high coefficients are classified into one factor category; and finally, 3 first-class indicators, 8 second-level indicators, and 37 observation points are reconstructed.