Excerpts of the thesis, A Case Study on Valuation Adjustment Mechanism, newly written by Mr. Chambers Yang was published on the column "VC Cases" of Top Capital Magazine in August, 2012. In the thesis, Mr. Yang made deep analyses on one case handled by him regarding validity of the VAM agreement, various defense potentially raised by the controlling shareholder of target company, and the affect of VAM dispute over the IPO of target company. Moreover, Mr. Yang shared his suggestions on improvement of VAM agreements.

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