Bravery
The Bravery stat is a measure how brave the soldier is in the face of danger. A higher bravery level results in higher morale on a mission, and therefore, less likelihood of panicking or going berserk during combat.
Starting Values
New recruits will always begin with a value between 10 and 60.
Maximum Caps
An X-COM soldier's bravery is capped at ???.
Improvement
I have seen Bravery go up by 10, for a few soldiers. But it was a very rare thing. I was guessing it might be related to wounds - total guess. NKF(?) says it's affected by Panic Attacks - see Experience. (THAT causes Bravery to go up??) - MikeTheRed