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How family ownership shapes Ipo valuation and market perception: evidence from the Porsche Ag listing integrating comparable company analysis and investor survey insights
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| 2.18 MB | Adobe PDF |
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This thesis examines how family ownership influences IPO valuation and pricing dynamics, using the Porsche AG listing as a central reference point. Through a mixed-methods design combining expert interviews, survey analysis, and a comparable company analysis, the study finds that family ownership does not directly affect IPO pricing. Instead, governance quality, signaling behavior, and investor expectations shape market outcomes. The Porsche IPO illustrates that concentrated family control is well-received when embedded in credible governance structures and strong fundamentals. Overall, the thesis shows that the impact of family ownership is contingent rather than causal, operating through mechanisms that reduce uncertainty and build investor trust
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Family owned IPO valuation Corporate governance Market perception Porsche AG IPO