The Validity Of Valuation Adjustment Mechanism

Since the introduction of Valuation Adjustment Mechanism(VAM)to China,it has played an important role in China's capital market.From "the first case of VAM",the dispute cases concerning VAM appeared one after another.How to determine the validity of VAM,the Supreme People's Court's judgment in "the first case of VAM" guided the trial of many subsequent cases.However,with the development of economy and the specialization of commercial trials,the Supreme People's Court has also appeared new ideas in similar cases.This article analyzes continuously in order to be helpful to the determination of the validity of VAM,The text is divided into four parts.The first chapter outlines the concept of VAM in advance.The author states and analyzes the causes and consequences of "the first case of VAM",and on this basis,explores the nature of the type of VAM,The second chapter is about the type of VAM and classic cases.Through big data analysis,the author firstly distinguished several common types of VAM from different standards,and then analyzed the evolution of the trial thinking from the perspective of four cases.The third chapter mainly analyzes the effectiveness of VAM from the perspective of contract law and company law.At the same time,the Supreme People's Court's judgment on "the first case of VAM" and the latest dispute case of VAM is analyzed.Finally,the author makes a brief summary of the content of this article,and on this basis,puts forward suggestions on the determination of the validity of VAM in China's commercial trials.