It might be more relevant to ask if the experience of being caught and released leaves a lasting trauma on the fish. If you hurt a mammal, many will carry the psychological effect around afterwards. Fish can be made wary, but is that the same thing?
I don't know about whether fish feel pain, they certainly have sensors in their mouths that allow them to tell the difference between food and non-food, often very quickly. However, in my experience they don't behave differently when removed from the water whether they have been hooked with a tiny thin wire hook in a bony bit of jaw, a great big hook somewhere soft, or simply netted out of the water.
Seems like its a hard thing to study without any bias. There are people who like fishing, and those that thing is is awful. I don't know what reason there would be to conduct a study unless it was to find proof to support one side or the other.
While catch and release may not have as great a survival rate as proponents hope, a lot is down to how it is done. I don't think there can be much argument that taking everything caught for the pot would quickly remove all the fish. That was a problem in some places in the past. Bag limits help, but encouraging fish to be returned allowed fishing to continue without destroying the fisheries