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Nasdaq Nordic Foundation

Supporting Nordic Financial Markets Through Scientific Research

The Nasdaq Nordic Foundation was founded in 2006 to support the financial markets through scientific research. The Foundation's mission is to promote scientific research and other initiatives related to the financial markets in Finland, Denmark and Sweden, with the goal of increasing competence and competitiveness for the financial markets within these countries. 

Nasdaq Iceland operates a separate program, The Nasdaq Iceland Grants Program, that accepts grant applications from organizations and projects aligned with its mission to enhance financial literacy in Iceland. 
For details on eligibility criteria, application procedures, and more, please refer to the following documents:

Information in  Icelandic

Information in  English

Grants

The application period for Nasdaq Nordic Foundation's Grant Program 2026 is now closed.
Questions about the Nasdaq Nordic Foundation?
 Get in touch with us

The application period for the Nasdaq Iceland Grants Program is open until September 10, 2026.
Questions about the Nasdaq Iceland Grants Program? 
Get in touch here

Research Reports
2025
The Impact of IPOs on Workers Read More Improving Financial Literacy: An investigation into how children learn abstract financial concepts Read More Populism, Polarization and Green Investment Read More Are Hedge Funds Exploiting Climate Concerns? Read More Tick Size, Lot Size, and Liquidity in Futures Trading Read More Cross-Border Spillover Effects of Sustainability Reporting Mandate through Subsidiaries Read More Impact of Equity Market Regulations in Europe and the Nordic Region Read More The Swedish Equity Market: Institutional Frameworks and Trends Read More Catching the Falling Knife: Retail Liquidity Provision Amid Institutional Selling Pressure Read More Exit: Discount Arbitrage and Retail Losses in Private Placements of Equity Read More Do Retailers Trade Noise? Macroeconomics Luck and the Mispricing of Stocks Read More To Woke or Not: Woke Engagement and Corporate Outcomes Read More Beyond ESG: Executive Pay Metrics and Shareholder Support Read More "Glossy Green" Banks: The Disconnect Between Environmental Disclosures and Lending Activities Read More Majority Protection in the Nordic Capital Markets -a Matter of Concern? Read More Activities of the Nordic Finance Network, October 2024 – September 2025 Read More An Experiment-Based Study on Decision Evaluation in Metaverse Read More Better Information Understanding Through Virtual Technologies? A VR Experiment on Data Interpretation Read More Decision-Making Styles in Metaverse: Effects of Immersion and Embodiment Read More Effects of Immersion and Embodiment on Memory in Virtual Reality Read More Emotion in Motion: Experiment on Affective Responses to Virtual Realities Read More Empowered Decision-Making Through Virtual Reality: Effect of Immersion and Embodiment on Self-Esteem and Anxiety Read More Gamification of Personal Finance: A Systematic Literature Review Read more The Omnibus Paradox Read More Reconciling Sustainability with Profit & Loss: Managing the Economics of Sustainability with Linked Performance Measurement Read More
2024
Statutory Priorities in the New Nordic Restructuring Laws Read More Competing for Dark Trades Read More High-Frequency Traders’ Single-Dealer Platforms and Market Quality Read More Improving financial literacy - an investigation into how children learn abstract financial concepts Read More Climate Polarization and Green Investment Read More Invest Like for Your Kids: Performance and Implications of Children’s Investment Accounts on Portfolios in Adulthood Read More Risk Management of Stock Portfolios with Jumps at Exogenous Default Events Read More Saddlepoint Approximations for Credit Portfolio Distributions with Applications in Equity Risk Management Read More Analysts Are Good at Ranking Stocks Read More Nordic Finance Network Activities Read More TCFD Climate Scenarios and Company Valuation: Insights from IFRS Climate Disclosures & Econometric-Financial Modeling Read More Geopolitical Risk Factors and Stock Returns: A Global Analysis Read More Sustainable Finance and Uncertainty: Evidence from Emerging Bond Markets Read More The Swedish Corporate Bond Market Read More Multiobjective Optimization of ESG Bond Portfolios: A Copula-Based Dynamic Nelson-Siegel Approach Read More
2023
What Matters to Individual Investors in a Welfare State? Read More Decision-Making Styles in Metaverse: Effects of Immersion and Embodiment Read More Emotion in Motion: Experiment on Affective Responses to Virtual Realities Read More Crypto-Currencies and Nordic Youth: Perceived Value, Adoption, Preferences, And Role in Portfolio Allocation Read More The Impact of Experience, Overconfidence and Optimism on Future Cryptocurrency Ownership Read More Transparency and equal treatment on the corporate bond market Read More Developments in the Swedish market for corporate bonds Read More ESG ratings: The mixed bag and its implications Read More On accountable sustainability measurement Read More Trading Costs and Market Microstructure. Invariance: Identifying Bet Activity Read More Exogenous Shock Creates Organisational and Structural Change. The impact of Covid-19 on the Swedish Business Sector Read More High-Frequency Traders and Single-Dealer Platforms Read More Children’s Learning of Abstract Concepts: The Role of Social Interaction Read More Risk management of stock portfolios with jumps at exogenous default events Read More Saddlepoint approximations for credit portfolios with stochastic recoveries Read More Term Premia Co-movement and Global Trade Network Read More Nordic Finance Network activities Read More
2018
2018 Read More Long-term Discount Rates Do Not Vary Across Firms Read More Seasonal Reversals in Expected Stock Returns Read More Why Does Portfolio Choice Correlate Across Generations? Read More Stock Price Co-Movement and the Foundations of Pairs Trading Read More The Private Use of Credit Ratings: Evidence from Investment Mandates Read More Reputations and Credit Ratings: Evidence from Commercial Mortgage-Backed Securities Read More Liability Structure and Risk-Taking: Evidence from the Money Market Fund Industry Read More Empirical Evidence on the Consequences of Voluntary Disclosure on Competition Read More How Sovereign is Sovereign Credit Risk? Global Prices, Local Quantities Read More

Board of Directors

Nasdaq Nordic Foundation has a Board of Directors that are responsible for the administration of the Foundation in accordance with its objective. The Nasdaq Nordic Foundation Board has seven members appointed by the Board of Directors of the holding company Nasdaq Nordic Ltd. Three of these directors shall have extensive academic experience within the field of financial markets.

  • Johan Mattsson, Chairman, Senior Vice President and General Counsel Europe.
  • Adam Kostyál, President of Nasdaq Stockholm and Head of Listings Europe.
  • Henrik Husman, President of Nasdaq Helsinki and Vice President Cash Equities Products.
  • Emilia Vähämaa, Associate Professor of Finance at Hanken School of Economics.
  • Jonas Niemeyer, Senior adviser at the Financial Stability Department at Sveriges Riksbank.
  • Nikolaj Kosakewitsch, President of Nasdaq Copenhagen and Vice President European Equity and Derivatives Sales.
  • Hanne Søndergaard Birkmose, Head of the Department of Law at the University of Southern Denmark.

Resources

Support

For any questions regarding the foundation and the grant application process, please contact:

Zivilé Slavinskaité

+46 8 405 7011

NordicFoundation@nasdaq.com

Participation

Nasdaq Stockholm AB, Nasdaq Copenhagen A/S and Nasdaq Helsinki Oy are operating marketplaces in Sweden, Denmark and Finland. Admitted companies and members must comply with the rules adopted by the Nasdaq Exchanges. A Disciplinary Committee may resolve to fine the member or admitted company in case of a breach by the member or admitted company of the Exchange rules. The paid fine is transferred to the Nasdaq Nordic Foundation for the promotion of the Foundation’s objectives.