What does the legitimacy theory posit?

Group of answer choices

$1.$ What is legal to do and how to behave for a firm

$2.$ Sustainability reporting and environmental disclosures are made in response to political, economic and social pressure to legitimize the firm$$s performance

$3.$ Environmental disclosures are made in response to the stakeholder demand for environmental and social information

$4.$ It explains the cognitive activity of human behavior