[摘　要]　从物流地产价值链出发建立风险因素指标体系，运用熵权法进行风险评价，并引入案例进行实证。研究表明，运用价值链构建物流地产风险指标体系，能够从动态角度系统涵盖物流地产开发的全过程，避免风险指标的重大遗漏或者交叉重叠；而熵权法是一种客观赋权法，它利用各指标所提供的信息量进行风险评价，排除人为因素干扰，使评价结果趋于客观。

[关键词]　物流地产；价值链；风险；熵权

Abstract: Builds the value chain from a series of value activities in the logistics real estate development process, and analyzes the risk factors of logistics real estate development for each link in the value chain. Then, a risk assessment model is established by using entropy method. Besides, empirical analyses are given on the basis of case collected in West China. According to research，the risk index system could cover the whole process of logistics real estate development by using value chain to avoid material omissions or overlapping of the risk indicators. Entropy method is an objective weighting method. It determines the index weights through the amount of information which included in various indicators entropy values. As a simple and effective method of risk assessment, entropy method could exclude human factors interference of index weight and make evaluation results more objectively.

Key words: logistics real estate; the value chain; risk; entropy weight