Does Alliance Size Matter? - The Market Value Of Joint Ventures

There are several market event studies of strategic alliances and none of them have really taken into account the influence of the size of the strategic alliance. The alliance size is a "Missing" or "Lurking" variable potentially of inflicting bias in these market event studies. Similar bias has been shown for company size in market event studies with alliances and in market event studies not dealing with alliances. The authors argue for why to include alliance size as a variable, simulation of possible effects, and include empirical evidence from Swedish joint ventures.