Differing perceptions of non-executive directors' roles in UK SMEs: Governance conundrum or cultural anomaly?

► The role of non-executive directors in UK SMEs is little understood. ► 10 case studies of paired managing director and non-executive director interviews. ► A new model is presented of working relationship trust development. ► Provides a possible explanation for governance failures. ► Important for policy-makers, investors and other stakeholders.