Research On The Investment Risk Of Company M To Company T Under The Bet Agreement

China’s market economy system is in constant transformation and development.In recent years,due to the impact of the epidemic,the national macroeconomic growth has slowed down,and many enterprises have been affected by the constraints of the market environment and the slow development of their own business.In this case,more and more enterprises begin to choose equity investment for expansion to eliminate the negative impact of enterprise development.As an important tool for risk control,betting agreement gradually becomes the primary choice for enterprises to improve the efficiency of enterprise investment.In equity investment,usually the investor will ask to sign a bet agreement,and the execution of the bet agreement determines whether the enterprise equity investment can achieve the ultimate success.Therefore,through the research on the investment risk of equity investment in enterprises under the bet agreement,and the exploration on how to prevent the investment risk brought by the bet agreement,it has important and far-reaching significance for enterprises to make successful investment.First of all,this paper introduces the concept of bet agreement,and then elaborates some research theories and effect influence theories related to bet agreement,and then briefly introduces the basic situation of the two parties who sign bet agreement,analyzes the motivation of investors to sign bet agreement,and summarizes the investment process of M company.Secondly,this paper selects a betting case between Company M and company T,analyzes the investment risk and risk evaluation that Company M may encounter in the process of using the betting agreement by means of financial index analysis,income method and fuzzy comprehensive evaluation method,and then divides the process of using the betting agreement into three stages on the axis of time line.They are in the gambling agreement before signing,gambling agreement implementation and gambling period after the end of the stage.From the perspective of investors,it is pointed out that enterprises may face valuation risk,industry policy risk and goodwill impairment risk before signing the betting agreement.During the execution of the betting agreement,the enterprise may encounter the risk of solvency,short-term effect and single financial index.After the end of the gambling period,the enterprise may face the risk of business failure,the risk of counterparty default and the risk of post-integration.Thirdly,this paper puts forward preventive suggestions from the perspective of risk prevention and control,and proposes to conduct full due diligence on the target enterprises and achieve reasonable valuation to prevent goodwill impairment before signing the betting agreement,and pay close attention to the preventive suggestions of industry development policies;In the process of the implementation of the gambling agreement,we should combine the actual development of the investee,strengthen the supervision,increase the gambling contingency mechanism,and design the gambling clauses to deal with the risk.After the end of the gambling period,the investor should improve the integration ability,prevent the risk of goodwill impairment,build a risk prevention system and other suggestions.Finally,the conclusion of this paper is summarized.The investor enterprises should make a comprehensive analysis from the perspective of macro environment development and enterprise investment demand,carefully choose the investment object,comprehensively design the investment plan of the gambling agreement,and strengthen the prevention of investment risks.The research on the investment risk of the case company in this paper can provide a certain degree of reference for other enterprises to choose the bet agreement investment,and improve the research on the application of bet agreement.