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@article{199402,
        author = {Nikesh Ramchandra Bhuyar and Pratiksha Meshram},
        title = {A Quantitative Analysis Of ESG Integration And Financial Performance In The Indian Equity Market},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {11},
        pages = {13745-13750},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=199402},
        abstract = {The adoption of the Environmental, Social and Governance (ESG) aspects in investment decision-making has become a trend in the international financial markets. In this paper, the correlation
between ESG performance and financial returns in the Indian equity market is explored using the
quantitative portfolio analysis of the Nifty 500 companies between 2019-2024. The study measures the absolute returns and risk characteristics and risk-adjusted performance measures of the High-
ESG and Low-ESG portfolios in terms of Sharpe Ratio, Sortino Ratio, and the Alpha of Jensen. It
has been shown that the High-ESG portfolios are more resilient in times of market decline and show higher risk-adjusted returns than Low-ESG portfolios. Individual pillars Governance scores have the best correlation with financial performance and Environmental/Social factor has sector-specific
materiality. The article presents empirical data to the support of ESG integration as a strategic process of improving the performance of any portfolio and overseeing the downside risk in the conditions of the emerging market.},
        keywords = {ESG Integration, Financial Performance, Indian Equity Market, Portfolio Analysis, Risk-Adjusted Returns, Sustainable Investing.},
        month = {April},
        }