Background. Reputational risk cross building competitive position or mark management. Shareholders of reputational risk management are more heterogenic. Therefore, it is not surprising that managing reputational risk has now become a major preoccupation for business in the private, public and not-for profits sectors.

Research aims. The reputational risk is placed at the top of the risk hierarchy as the risk of others risks. As such, it need in new cognitive framework. In this case we study how manage complexity item.

Methodology. Comparative analysis of models of reputation risk management devoted the cognitive framework located in time and institutional space.

Key findings. Reputational risk management is reduction of internal cost of particular activity, cover transactional cost of monitoring such type of risk and calculate external cost of reputation lost. One of this external cost is crush of reputation on public trust institutions. The current paper demonstrates and reviews different theoretical perspectives that conceptualize reputational risk management. The first part presents cognitive perspective on reputation. The second part covers behavioral approach to risk management. Finally, the paper provides practitioners with a systematic review of different approaches adopted to study reputational risk management.

Background. Reputational risk cross building competitive position or mark management. Shareholders of reputational risk management are more heterogenic. Therefore, it is not surprising that managing reputational risk has now become a major preoccupation for business in the private, public and not-for profits sectors.

Research aims. The reputational risk is placed at the top of the risk hierarchy as the risk of others risks. As such, it need in new cognitive framework. In this case we study how manage complexity item.

Methodology. Comparative analysis of models of reputation risk management devoted the cognitive framework located in time and institutional space.

Key findings. Reputational risk management is reduction of internal cost of particular activity, cover transactional cost of monitoring such type of risk and calculate external cost of reputation lost. One of this external cost is crush of reputation on public trust institutions. The current paper demonstrates and reviews different theoretical perspectives that conceptualize reputational risk management. The first part presents cognitive perspective on reputation. The second part covers behavioral approach to risk management. Finally, the paper provides practitioners with a systematic review of different approaches adopted to study reputational risk management.