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IPO valuation porsche ag - the influence of corporate governance on IPO underpricing in the dach region

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Resumo:This work project evaluates the firm value of Porsche AG upon its IPO on September 29, 2022. The valuation is based on three different approaches, namely intrinsic value, comparable company analysis and comparable transaction analysis. The result of the valuation indicates that Porsche AG’s IPO was subject to a discount. This potentially results from difficulties in the current market environment and its convoluted corporate governance structure due to cross holdings, share listings, and shared responsibilities of executives. Furthermore, this work project includes an individual part that assess the relation between firm specific corporate governance characteristics and their relation to IPO underpricing in the DACH region (Austria, Germany, and Switzerland).
Autores principais:Schwarz, David Justin
Assunto:IPO valuation Porsche underpricing Corporate governance
Ano:2023
País:Portugal
Tipo de documento:dissertação de mestrado
Tipo de acesso:acesso aberto
Instituição associada:Universidade Nova de Lisboa
Idioma:inglês
Origem:Repositório Institucional da UNL

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