particular, risks do not depend on us and are uncontrolled parameters. Consequently, to solve the problem of the management process (MP) of an enterprise PA, we propose to use a minimax approach or finding a guaranteed result. Its essence lies in the fact that a value of the worst (maximum) vector of heterogeneous risks is the smallest in comparison with similar values for others at the minimum guaranteed optimal management. Thus, we minimize the influence of risks in the MP problem, where risks are uncontrolled parameters, by choosing such optimal control that would guarantee the obtained result at the influence of any maximum of risks from a set of permissible ones. We know that a modern enterprise is a complex multifactorial and multi-stage management object. Various types of risks can affect it. It consists of a large number of interconnected subsystems, which have relations of subordination in 4

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The purpose of this paper is to assess the effect of financial performance on textual features of the CEO’s statement. Specifically, given the incentives of poorly performed companies engage in impression management, the study investigates whether companies’ reporting strategy hinges on its financial performance. The research questions are tested through analysis of a variety of textual features in the CEO’s statement of 30 good and 30 poor performed companies listed on NASDAQ OMX Stockholm. We apply a range of textual characteristics drawn mostly from prior studies in given realm to the specific research of impression management in the CEO’s report. Overall our findings do not corroborate impression management claim, as six out of seven our results run counter to assertions made by impression management research. We found although evidence that poorly performed companies more focused on future compared with good performed companies. Finally, we conclude by discussing our results and outlining some avenues for further research.

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