Research On Risk Management And Prevention Of VAM Agreement In Jiaxing Media Private Equity Financing

With the development of the economy,my country’s film and television media industry has entered a stage of rapid development,and the gap with the international film and television industry is constantly narrowing in terms of technology and hardware.At the same time,the film and television media industry has been a key industry supported by national policies in recent years,and policies have become an important driving force for the development of the film and television media industry.Regulatory authorities and laws and policies have also been gradually improved.At present,my country’s film industry and TV industry have initially formed laws and regulations based on the Copyright Law of the People’s Republic of China,covering industry qualification management,industry business standard review,industry quality management and other aspects.system of rules.With the support of policies,the film and television media industry has developed rapidly.Coupled with the rise of the Internet,the film and television industry has gradually merged with the Internet industry.The investment model and marketing model have begun to innovate and reform,and the audience has gradually increased,bringing leap-forward development to the film and television media industry.Investors naturally also noticed the development prospects of the film and television media industry and began to enter the industry.However,since the film and television media industry is an asset-light industry,the profits are very unstable.Therefore,in the mixed film and television media industry,risk control has become a rigid need for investors.And VAM protocols are widely used as a tool to reduce risk.Its original meaning is "valuation adjustment mechanism",and its purpose is to adjust the valuation of the target project through written agreement in the face of uncertain future conditions.In layman’s terms,it is to reduce investment risks and achieve investment purposes.By analyzing the cases of the use of gambling agreements in the film and television media industry,it is found that the success rate is not high.Therefore,this thesis summarizes the effective prevention of gambling risks faced by the company through the research on the risk management and prevention of the gambling agreement in the private equity financing of Jiaxing Media.measures,and provide some reference experience for relevant film and television media companies to apply the VAM agreement.The research topic of this thesis is the risk management and prevention of the application of VAM in private equity financing.First of all,it introduces the overall situation of my country’s private equity investment market and the development of the film and television media industry in detail,which leads to the research background and significance of this thesis;secondly,it summarizes the literature of domestic and foreign scholars on the risk management and prevention of gambling agreements.Then,this thesis introduces the related concepts and theories of the gambling agreement,from the concept and characteristics of the gambling agreement to the theoretical method of risk identification and risk assessment method,which lays the foundation for the following case studies.Then,start a comprehensive introduction to the case,introduce the signing,content,and completion of the Jiaxing Media’s VAM agreement,and use the segmentation identification method to identify the valuation risk,performance target selection risk,performance target selection risk,Risk of policy regulation,difficulty in achieving performance goals,moral hazard,public opinion risk,default risk and legal risk.Then use the analytic hierarchy process and fuzzy evaluation method to evaluate its risk through questionnaire survey,combining qualitative and quantitative.Finally,corresponding preventive measures are given according to the evaluation results.Through the case analysis and research of the application of the gambling agreement in the private equity of Jiaxing Media,this thesis hopes to provide some valuable experience and suggestions for enterprises in the progressive development of the film and television media industry,and help enterprises to effectively identify and prevent the risk of the gambling agreement.to achieve win-win investment and financing,and promote the development of the industry.