Tian Z., Zhao Y., Tian Y., 2015, Study of Game Theory on Enterprises’ First-round Financing Based on Valuation Adjustment Mechanism, Chemical Engineering Transactions, 46, 469-474.
Under the Valuation Adjustment Mechanism (VAM), enterprises confront with complicated Game problems during the first round (Series A) financing. Therefore the paper uses Game Theory to analysis the decisions of enterprise, Series A investor when facing different collusion condition. The paper also investigates the influence of stringency of the target and the efforts level of the enterprises on enterprises earnings and aims to define the enterprise tactics.
