Yes, there are studies. It depends on how the soy is processed. There are plant hormones in soy beans, and that is where most of where the comments are going to come from.
I dont do soy and I dont do milk of any kind unless I'm having cake or something, but if processed 'properly' its not considered bad at all.
If we look to countries that cultivate and use soy on a regular basis, we can see how hugely muscular they are naturally without lifting weights. It amazing really.