IPO Underpricing in NASDAQ First North Stockholm: Can Investors Beat the Market?
Initial Public Offerings (IPOs) represent the first sale of the firms’ shares to the public. By setting lower offer prices, companies going public create opportunities for investors to earn abnormal returns, making IPOs an attractive investment strategy. This is a well-known and widely discussed in academic literature the IPO underpricing phenomenon. There are different motives for the IPO underpr