Research by Marciukaityte, Roskelley, and Wang found:

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The research by Marciukaityte, Roskelley, and Wang found all three statements to be true, which means that the correct answer is D - all of the above. The research found positive announcement effects to the formation of alliances in the financial services industry, improvements in operating performance relative to the industry, and a higher likelihood of alliance partners entering into joint ventures or M&A with each other than randomly selected firms.

Research by Marciukaityte, Roskelley, and Wang Found