contradiction to this traditional view. We show that there exist types of non-fundamental information that are detrimental to price … framework with public non-fundamental information and prove that this type of information can harm price efficiency, i ….e., prices would be closer to fundamentals if public non-fundamental information did not exist. …

contradiction to this traditional view. We show that there exist types of non-fundamental information that are detrimental to price … framework with public non-fundamental information and prove that this type of information can harm price efficiency, i ….e., prices would be closer to fundamentals if public non-fundamental information did not exist. …

-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama-French five-factor model. Findings … information or non-fundamental information, for any region under consideration. However, Fama-French common risk-factor portfolio …. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions …

-Data Library. CSAD driven by fundamental and non-fundamental information is assessed using Fama-French five-factor model. Findings … information or non-fundamental information, for any region under consideration. However, Fama-French common risk-factor portfolio …. Also, no considerable evidence is found for herding (on fundamental information) under crisis and up-market conditions …