Financial Performance and Corporate Social Responsibility: Evidence from Mexican Stock Market Firms (2014–2024)

This study analyzes the relationship between corporate social responsibility (CSR), measured through ESG scores, and the financial performance of companies listed on the S&P/BMV Index of the Mexican Stock Exchange (BMV) during the period 2014 n–2024. Using a quantitative, longitudinal, and non-experimental approach, covariance models (ANCOVA), random forest algorithms, and probit models were applied to evaluate the influence of sustainable practices on key indicators such as ROA, ROE, EBITDA, liquidity, leverage, and volatility. The results reveal a positive and significant association between ESG and profitability indicators (ROA and ROE), while the rest of the indicators present heterogeneous effects. The random forest model confirms the predictive relevance of the ESG score, and the probit model indicates a higher probability of high financial performance among companies with better sustainable practices, although without robust statistical significance. reinforce the strength of the findings. These results, reinforced by cross-validation and robustness tests, confirm that CSR can be a competitive advantage, contributing to both the economic and social objectives of companies.