The current concern with sustainability issues pervades all scientific fields. Sustainable investment is not an exception judging by the significant increase in the literature. This work provides an extensive up‐to‐date overview of studies on sustainable investment, revealing current trends, identifying gaps and future research topics. A total of 1091 documents are reviewed and bibliometric analysis is used with two approaches: data analysis and conceptual structure of the field. Additionally, a classification into 12 categories by topic is proposed. The results show that more than 40% of the publications belong to analysis of classical investment tools with a gradual evolution towards the concept of “green” instruments. Socially Responsible Investment (SRI) strategies have changed over time from “screening” to the current “best‐in‐class”, “Environmental, Social and Governance (ESG) integration” and “impact investing.” The results of the study are valuable for academics and practitioners, as they show the current state of knowledge, evolution paths and emerging topics.
17 December 2022 in European Research on Management and Business Economics
Purpose This paper aims to analyses the capital structure of the Spanish chemical industry during the period between 1999 and 2013, with a twofold objective. First, to determine whether the assumptions of pecking order theory are fulfilled throughout the study's timeframe. Second, by using data covering the years before the crisis and the worst years thereof, this study shows how the crisis has affected the capital structure of the companies included in this sample. Design/methodology/approach A particular kind of unsupervised neural network, self-organizing maps, is applied. This methodology allows to cluster firms avoiding the need to establish relationships between the different variables involved in the problem beforehand. Findings Companies are clustered into groups with different degrees of accomplishment of the pecking order theory. The hypothesis about risk is the one that experience a greater variation in the period before and after the crisis. Moreover, companies' capital structure has been lightly disrupted by the crisis. Originality/value The originality of this paper lies in applying an unprecedented methodology to the problem of capital structure. Therefore, the capital structure problem can be approached without setting any function relationship previously.
The authors conduct a systematic literature review of value-at-risk models to determine which models are most often used and whether any change in model
10 October 2025 in Journal of Business Economics and Management
This study explores the integration of financial and Environmental, Social, and Governance (ESG) criteria in the evaluation of investment funds within the energy equity sector, considering both short and long-term investor perspectives. Based on the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS), a multi-criteria decision model, this analysis includes scenarios tailored to investors prioritizing financial returns and those focused on sustainability. The findings reveal that investors’ subjective preferences influence fund rankings, highlighting the need for adaptive classification systems. Finally, a customizable investment tool aligned with diverse investor priorities is proposed.