Corporate reputation is a critical strategic resource for companies. As the world becomes more interconnected, understanding the factors that cause reputations to differ across contexts is becoming increasingly important. We propose that institutional development and cultural environments of countries may affect corporate reputation. We examine our hypotheses in a sample of 405 large firms in 26 countries. We find that evaluations of corporate reputation are consistently higher in countries with lower levels of institutional development. There are varied effects for national culture variables.