@article{19c83d7dad804c63bd1e0a4c90252fb8,
title = "Operational hedging against adverse circumstances",
abstract = "This paper investigates operational hedging against severe disruptions to normal operations. It offers a new method to evaluate the extent that operations policy serves as a hedge against adverse circumstances. We apply the proposed method to explore how supply chain characteristics affect the responses of airlines to the acute demand fall off after the September 11 terrorist attacks. Results indicate that operational hedging vehicles (fleet standardization, high-fleet utilization, an aircraft ownership policy rather than leasing, and international operations) are more powerful in protecting firms than using financial instruments. The study contributes in guiding managers as to how operations policy can serve as an imperative factor in mitigating exposures to low-end performance levels.",
keywords = "Airlines, Empirical research, Hedging, Operations policy, Operations strategy, Stochastic-dominance, Uncertainty",
author = "Dan Weiss and Maher, {Michael W.}",
note = "Funding Information: We are grateful to Tim Adam, Nicole Adler, Shanon Anderson, Sasson BarYosef, Simon Benninga, Avraham Beja, Sergio Beretta, John Core, Eitan Gerstner, Wayne Guay, Niklas Lampenius, Ella Mae Matsumura, Chih-Ling Tsai, and Margareth Woods for their helpful advice and to Michael Bowers for research assistance. Dan Weiss thanks the Henry Crown Institute for partial financial support.",
year = "2009",
month = oct,
doi = "10.1016/j.jom.2008.10.003",
language = "אנגלית",
volume = "27",
pages = "362--373",
journal = "Journal of Operations Management",
issn = "0272-6963",
publisher = "John Wiley and Sons Inc.",
number = "5",
}