Finally, with respect to assessments of environmental reputation, Panel C of Table 6 presents results of our regression analysis controlling for firm size, the model is highly significant (based on model F-statistic) with an adjusted r-squared of .315. As expected, the Firm Size variable is significantly (at p=.028, one-tailed) associated with the environmental reputation scores. Importantly, controlling for firm size, report issuance continues to be significantly (at p= .029,one-tailed) related to differences in companies environmental reputation. These results support our original findings. Results of our regression analysis indicate that the environmental performance measure is not significantly associated with the reputation scores.