Critics of Porsche's financial strategy have mocked the automaker as a "a hedge fund with a car showroom attached," but INSEAD Professor Randel Carlock says Porsche has a hidden asset: Family shareholders who are committed to a shared vision. Ferdinand Piech, a member of the Porsche clan, championed the company's acquisition of VW, and Carlock credits Porsche's nonfamily CEO, Wendelin Wiedeking, and the management team for delivering it. The company has great values, governance and strategies, Carlock says. Its cars aren't bad either.

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