This study aims to investigate the relationship between CSR disclosure and firm performance in sinful corporations, especially in the tobacco, alcohol, and gambling industries. We intend to develop and look for the answers to these two questions: (1) What is the relationship between publicly listed sinful corporations CSR disclosure and their firm financial performance? and (2) Did sinful corporations CSR disclosure affect the firm future financial performance? Using 595 firm-year observations data attained from publicly listed “triad of sin” corporations around Asia and Australia, the results indicate that the CSR disclosure of the “triad of sin” corporations significantly and positively affects the firm financial performances. In addition, we found that CSR disclosure of sinful corporations affects not only current but also future firm financial performances. Furthermore, the affected financial performances are not only the company profitability but also its firm value. Therefore, can be concluded that there is a relationship between sinful corporations CSRD and firm financial performance.
