However, whether the benefit protected by the antitrust law is allocative efficiency or is the consumer welfare, antitrust experiences have not yet reached any consensus. 反托拉斯立法的保護法益，是以配置效率為主或以消費者福利為對象，實務上則仍未有一致的結論。
It is therefore believed that investors are misled by the surplus management to overvalue the stocks, leading to sliding efficiency of capital allocation. 本文認為，上市公司配股過程中的盈餘管理誤導了投資者的決策，造成了股票價值的高估和資本配置效率的下降。
