... performance of sustainable funds. When investors’ sentiment is low, investors may lose faith in the market efficiency, negatively affecting funds’ returns through selloffs. In this context, the enhanced transparency required by the reform may support funds with more substantial ethical commitments maintaining...

... risk‐adjusted performance across all recent sub‐periods (three‐, five‐, and ten‐year) for the firms in the smallest market capitalization category. Better risk‐adjusted returns were earned for only the ten‐year period for the largest firms and the overall US market. Mid‐cap stocks were not significant...