Trends and performance results of socially responsible investment: bibliometric mapping with systematic review of risk-return evidence
摘要
Socially Responsible Investing (SRI) has become a central phenomenon in the process of sustainable economic development, which led to a significant growth of the scientific community in the field. This paper provides a bibliometric analysis of the current research on SRI in a structured approach to future academic investigation of the Scopus database and a systematic literature review focusing on the risk-return trade-off in SRI. Based on the Bibliometrix package in R and VOSviewer, a set of 875 publications published in 1994–2024 is analysed. The paper has utilized both the bibliometric and systematic review methodologies to assess the development of research in SRI, especially the relationship between risk and returns. The results indicate that the studies have shown that SRI does not necessarily undermine financial performance as its effect depends on the screening approach, local contexts, market conditions and the substantive importance of ESG concerns. Network analyses and thematic mapping also reveal prominent trends and valuable contributions and new thematic groups in the area. The review also reveals a number of under-researched areas and therefore the new horizons for future research in SRI.