The excess earnings of the manager be dispatched is the groundwork of the financial report as the rights and interests and duty of the manager.

This was recognised by John Maynard Keynes, who in the 1940s argued for a global clearing bank that would tax or even confiscate the excess earnings of surplus countries.

This paper studies the response of A-share market to the announcement on the special treatment of stock dealing, using the method of excess earnings and multiple regression analysis.