Risk Analysis And Control Of The Merger And Acquisition Party Under The Gambling Agreement

Gambling agreements,also known as valuation adjustment agreements.Because investors are uncertain about the future development prospects and profitability of the financiers,investors hope to sign a betting agreement to ensure that they can get certain compensation when the financiers can not fulfill their betting commitment goals.And the financiers hope that they can get the financial support of investors faster by signing the betting agreement and realize their own rapid development.Therefore,betting agreements are widely used in the process of investment and financing.Among them,many have succeeded,but more have ended in failure.Therefore,it is necessary to study how to analyze and identify the risk of the gambling agreement,and establish corresponding risk prevention and control system,so as to improve the success rate of gambling and promote win-win situation for both sides of investment and financing.Firstly,this paper introduces the background and significance of the research,then analyses and summarizes the relevant research of domestic and foreign scholars,and determines the research direction and research methods of this paper.Secondly,this paper identifies the risks of skyline shares in different stages of gambling by analyzing the gambling cases of skyline shares and Xintai materials.Finally,it aims at the different stages of skyline shares.Faced with the risks,the risk prevention and control system for the whole gambling process is formulated.This paper finds that gambling agreements have the following key risks: due diligence risk,valuation risk,performance goal setting risk,management moral risk and legal risk.These risks belong to three stages: before signing the gambling agreement,during signing the gambling agreement and after signing the gambling agreement.In view of the risks in these three stages,this paper establishes a risk prevention and control system for the whole process of signing the betting agreement: before signing the betting agreement,the merger and acquisition party can prevent and control the risk of early due diligence by establishing a sound due diligence investigation system;during the signing of the betting agreement,the merger and acquisition party can prevent and control the risk of valuation by reasonably evaluating the target enterprise and reasonably setting the goal of betting commitment.After the signing of the gambling agreement,the merger and acquisition party can prevent and control the moral hazard and legal hazard of the management by strengthening the follow-up management,providing value-added servicesand changing the gambling terms.