Extensive research finds that shareholder and CEO preferences affect demand for director services. We find a large body of evidence that independent director reputation incentives influence the supply of director services. These reputation incentives vary across firms and over time,...

For financial intermediaries that operate in a highly fragmented industry, such as venture capital (VC) firms, reputation is highly valuable in building credibility with entrepreneurs and investors and enhancing business relationships. A strong reputation benefits both a VC firm's investors and...