Palia, Darius; Ravid, S. Abraham; Reisel, Natalia - In: Review of Financial Studies 21 (2008) 2, pp. 483-511
We use a movie industry project-by-project dataset to analyze the choice of financing a project internally versus financing it through outside alliances. The results indicate that project risk is positively correlated with alliance formation. Movie studios produce a variety of films and tend to...