IntroductionCompanies typically communicate with shareholders by providing information inside and outside of financial reports. The narrative information contained in financial reports has become longer and more sophisticated in recent years. With the increasing number of corporate scandals, questions arise as to whether the quality of financial reporting has been compromised by such disclosures. As the statement asserts, “disclosure outside of financial statements is only used to manage the impressions of gullible shareholders.” which generally means that such information misleads shareholders by manipulating their perceptions. Information provided outside the financial statements includes the narrative information contained in the financial report such as the chairman's statement, CEO statements, future improvement plan, etc. (excluding only income statements, balance sheets, cash flow statement and associated notes) and information outside the financial statements. reports available on company websites, press release. Such as profit warnings, research and development activities, repurchase intentions, capital expenditures, etc. Broadly speaking, impression management refers to the process by which someone influences the perceptions of others. In a corporate reporting context, this means "strategically displaying and presenting information in a manner that is intended to distort readers' perceptions of the company's achievements" (M-DB, p. 415, from Godfrey et al, 2003). In the statement, it forces this type of readers to be shareholders, more precisely, gullible shareholders. They are not savvy, may not have professional knowledge about the stock market and therefore are unable to tell the truth or simply believe what they have heard. In my opinion, this s......middle of paper......information or print management? Journal of Accounting Literature, 26, 116-194. Merkl-Davies, DM, Brennan, NM and McLeay, SJ, 2011. Impression management and retrospective sensemaking in corporate narratives: a social psychology perspective. Journal of Accounting, Auditing and Accountability, 24 (3), 315-344. Merkl-Davies, DM and Brennan, NM, 2011. “A conceptual framework for impression management: new insights from psychology, sociology, and critical perspectives,” Accounting and Business Research, 41, pp.415-437 ( M-DB)Rutherford, BA, 2003. Obfuscation, textual complexity and the role of regulated narrative accounting disclosure in corporate governance. Journal of Management and Governance, 7 (2), 187-210. Yuthas, K., R. Rogers, and J.F. Dillard. 2002. Communicative actions and corporate annual reports. Journal of Business Ethics 41 (1-2): 141-157.