Articles
Année
2022
Abstract
We propose a new framework for the optimal design of a financial instrument to hedge nonclaimable (e.g., background, operational, and nontradable) risk embedded by business and operating revenues. Our method leverages the ability of financial markets to securitize nonfinancial assets and contingent claims written on the related notes. A new array of integrated operational and financial risk management policies is identified and an explicit solution is provided for a class of project allocation decisions.
GUIOTTO, P., RONCORONI, A. et TÉDONGAP, R. (2022). Operations Revenue Insurance. Foundations and Trends in Technology, Information and Operations Management, 15(3), pp. 225-246.