Revisión de la Literatura sobre el Rendimiento de la Inversión ESG: Un Estudio Bibliométrico

Abstract

Literature Review on ESG Investment Performance: A Bibliometric Study

The objective of this research is to analyze trends in the literature on ESG investment performance, identifying key themes, methodological approaches and areas of concentration. A total of 676 scientific articles extracted from the Scopus database (2006-2024) were reviewed, using bibliometric and content analysis using RStudio's Bibliometrix package and VOSviewer software. The results highlight the most influential authors, the most cited articles, the thematic evolution and the collaboration network among researchers. The analysis reveals five predominant themes: (1) responsible investment theories, (2) ESG disclosure frameworks, (3) impact on financial markets, (4) ESG ratings discrepancies, and (5) emerging issues such as the COVID-19 pandemic and climate change. It is recommended to investigate risk-adjusted returns in emerging countries, especially in Latin America. A limitation of the study is the exclusive consideration of articles indexed in Scopus. The findings provide a solid basis for future studies on emerging dimensions of this field. It is concluded that performance remains a controversial topic, with heterogeneous results globally.