Please describe how. I checked the algorithm an I don't think it affects highlights, but if you have done a careful analysis, please share it with us.
(I've come here because I see traffic to my blog. I think, it is better to discuss in english than try to translate my russian notes using automated translators
Due to tone curve (highlights compression), the tone distribution between photographic stops is very specific on Sony cameras (against 'common' 12- or 14-bit linear ones, such as Canon or lossless Nikon files).
The topmost stop (from 1EV below camera maximum to maximum) contains only 237 levels.
Next one: 295, next one: 335, and 4th one: 377.
Then tone curve becomes linear, so beginning from 5th stop to shadows the distribution is 'usual' two times decline on each stop (266, 133, 66 33....)
So, for low contrast scenes you should expose your subject 3-4EV below saturation to get more levels (values) on it.
High contrast scenes is another story: you may want to open shadows by turning exposure 'to the right'
You may extract Sony tone curve using RawDigger in CSV format (Menu - File - Dump RAW Curve) and examine it.
Please note:
1) you should subtract black level (bias). It is 512 for most Sony cameras
2) Tone curve maximum is 17220 (16708 after black subtraction), while real maximum seen in data is 16116 (after black subtraction), so real tones starts from level #4058)
3) Tone curve is 12 bit input => ~14 bit output (real maximum is slightly above 2^14 bit), but only even lines are really used: the raw data (before curve) is 11-bit, so the values are multiplied to 2 before appyling the curve.
4) I've examined tone curves from several Sony cameras (A7R, A99, A900 in cRAW mode, NEX-C3, NEX-7) and these curves are the same. It is possible (but unlikely), that other Sony camera models uses (slightly?) different tone curves.