| After the reform and opening up,with the economic development and policy support,the film and television industry has achieved rapid development.The rapid development of the industry makes the M ＆ A activities increase day by day.The film and television enterprises with high added value in M ＆ A will produce a high M ＆ A premium.At this time,in order to ensure the interests of both parties,gambling agreements are often introduced.However,due to the state’s encouragement of M ＆ A,the immature application of agreements and the lack of management of gambling agreements,This has led to the abuse of the gambling agreement and triggered a lot of financial fraud,some of which are still engaged in fraud even after the gambling,which has seriously damaged the development of the market.Therefore,to explore the problem of financial fraud caused by the abuse of VAM in industry M ＆ A is also a perfection of China’s M ＆ A market and VAM agreement,and is also conducive to solving the problem of corporate fraud under this background.Based on the above background,this paper studies the relationship between gambling agreement and financial fraud after M ＆ A,combs the causes of financial fraud,and puts forward relevant suggestions,hoping to provide reference for similar enterprises in M ＆ A.This paper combines case study and theoretical analysis,and takes Beijing Jingxi Cultural Tourism Co.Ltd.（hereinafter referred to as Beijing Culture）as an example to study the cases of continuous financial fraud after Beijing Culture gambling on Ferris wheel culture,century partner and Xinghe culture.Firstly,this paper summarizes the relevant literature research at home and abroad,and combs out the relevant theories such as information asymmetry theory,principal-agent wheel,signal transmission theory,gone theory and so on;Secondly,it introduces the content,completion and consequences of the merger and acquisition parties and the gambling agreement;Thirdly,it combs out the mechanism and causes of financial fraud induced by gambling agreement,and analyzes the identification,motivation,means and consequences of financial fraud in combination with gone theory;Finally,taking the signing of the gambling agreement as the time node,put forward corresponding prevention suggestions from the inside and outside of the company.Through the research,it is found that after the company completes the M ＆A,if the signing of the gambling agreement is unreasonable,it will generally lead to fraud when the normal operation is difficult to complete;After the merger and acquisition,the ownership structure of the company has changed,and both sides of the merger and acquisition have common interests.The failure of gambling will cause losses to both sides,so the acquirer often helps the acquiree to complete fraud;After the completion of the bet,if the actual operation of the company is poor,the management will continue to commit fraud in order to cover up the real performance,and finally fall into a desperate situation.Therefore,to deal with the fraud caused by the company’s M ＆ A signing of the gambling agreement,on the one hand,we should strengthen the external supervision,management and punishment,on the other hand,we should be cautious before signing the agreement,reasonably determine the gambling terms,constantly improve and improve the enterprise’s own ability,and strengthen internal control. |
