We compare the prevailing system of compulsory pre-merger notification with the Australian system of voluntary pre-merger notification. It is shown that, for a non-trivial set of parameter values, a perfect Bayesian equilibrium exists in mixed strategies in which the regulator investigates...

We study a voluntary pre-merger notification game under asymmetric information and characterize perfect Bayesian equilibria. In the separating equilibrium, only the mergers with low private benefits and low social welfare are notified, and subsequently settled into negotiated outcomes. All other...

The authors examine the behaviour and attitudes towards superannuation of 25-34 year old Australians. The results of the survey suggest they are generally uninterested in their superannuation accounts. They seldom read the information provided by their funds, rarely change their fund, and a...

Firms in US and Australia operate in rich disclosure environment with one significant difference – in Australia firms' continuous disclosure obligation is mandated by law. Given that overall both countries operate in rich disclosure environment, we study the market response to earnings...