Reputation is growing as a very important asset in everyday corporate life and it is even crucial for financial corporations. The main financial institutions consider reputation as one of the six risk factors to be managed by any corporation in financial sector: credit, market, operational,...

This paper examines the association between board characteristics and the ethical reputation of financial institutions. Given the pivotal governance role of the board of directors and the value-relevance of ethical corporate behavior, we postulate a positive relationship between ethical...