Journal Press India^®

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This paper presents a comprehensive review of studies examining the intersection of Environmental, Social, and Governance (ESG) factors, sustainability, and Initial Public Offerings (IPOs). By synthesizing existing research, we provide a holistic understanding of how ESG and sustainability considerations impact IPO performance and investor behaviour. Our thematic analysis identified key areas where ESG factors influence IPO outcomes. Furthermore, we explored various theories employed in these studies to elucidate the relationship between ESG factors and IPO success, providing a robust framework for understanding the underlying mechanisms through which ESG practices impact market performance. We underscore the importance of future research in this area, encouraging scholars to investigate regional and industry-specific variations, employ innovative methodologies, and foster interdisciplinary collaboration. By prioritizing sustainable and ethical practices, firms can not only enhance their market performance but also contribute to broader societal goals.

Keywords

Environmental social governance; Initial public offerings; Sustainability; Underpricing

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