Gavrilova, EkaterinaLützenkirchen, Mats Ferdinand2023-12-112023-12-112023-02-262022-12-16http://hdl.handle.net/10362/161060This 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. Therefore, the individual part assesses the relation between firm specific corporate governance characteristics and their relation to IPO underpricing focused on the Nordics region.engIPO valuationPorscheunderpricingCorporate governancemaster thesis203363698