I am sorry to sound negative, but you really have to define exactly what you mean by your terms before you can start meaningfully discussing them. How do you define environmental performance, what metric do you use to measure it and what method do you use to make that measurement. You are even worse off with disclosure, as it will almost certainly be deliberately misleading and need to have independent assessments in order to establish exactly what is being disclosed and what the figures disclosed actually mean.

Historical approaches:

1. What has been successful

2. What has not been successful

3. What has not be trien and may be successful with study

Thanks for showing interest in the subject matter of the question I asked. I am sorry too, to have say that there is nothing vaque about the

the two variables and the strategies used in measuring them in as much as one is familiar with the relevant literature (see, Fry & Hock, 1976; Ingram & Frazier, 1980; wiseman, 1980; Freedman & Waley, 1990; Patten, 1992; Jaggi & Zhao, 1996; Bewley & Li, 2000; Hughes et al., 2001; Patten, 2002; Cho & Patten, 2007; Altuwaijri et al., 2004; Dawkin & Fraas, 2008, 2011a, 2011b; Cho & Robets, 2007; Cho et al., 2010; Devillier & van Staden, 2011, He et al., 2013; Hassan & Kouhy, 2014; Hummel & Slick, 2016; Tardos & Magnan, 2019 & many others). Methods for measuring these variables have been long established since the work of Ingram & Frazier (1980) down to the work of Tadros and Magnan (2019).

Environmental performance is a variable that operationalizes enviromental resposibility as environmental responsibility is impossible to measure. Resesrchers could measure this variables themselves (using DEA, for instance) or they could rely on indexes developed by rating agencies (for example, KLD concern scores).

Environmental disclosure is typically measured using various forms of content analysis to develop disclosure indices, for examples volumetric disclosure index, specificity disclosure index or even indices that measure verbal tone.

I asked this question bescause I have never come accross any study that uses, for example Panel ARDL to estimate the relation between environmental performance & discloure.