While companies have emerged as very proactive donors in the wake of recent major disasters like Hurricane Katrina, it remains unclear whether that corporate generosity generates benefits to firms themselves. The literature on strategic philanthropy suggests that such philanthropic behavior may...

Sin stocks are shunned by institutional and retail investors. As a result, sin stocks are perceived as risky necessitating risk mitigation strategies. Using 52,234 firm-year observations from 1981-2012, we study the risk management behavior of sin firms. We examine the disclosure of private and...