Q1. Clarkson et al. (2008) suggest that voluntary disclosure theories provide opposing predictions on the extent of voluntary environmental disclosures of firms in relation to their environmental performance as compared to the 'socio-economic' theories of legitimacy and stakeholder theory. Explain the premise of this alternative perspective, i.e. that there may be a positive association between environmental performance and the extent of voluntary environmental disclosure.

Q2. In simple terms explain what the results of their study reveal about these opposing theoretical perspectives. In your opinion, do you find these results intuitively appealing?