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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.

Top Capital is a core journal, which is the most professional and influential magazine focusing on equity investment in Asia-Pacific region. With a history of 20 years as finance journal, Top Capital is unique on its professional content, leading information, and high popularity as well as reputation. It is recognized as a guiding journal in the field of investment and financing, and widely renowned and influential in mainland China and even in whole Asia-Pacific region.