Recent research among 2500 of the largest companies in The Netherlands reveals the growing importance of social and ethical issues in the corporate governance debate. Such issues can place non-executive directors in a dilemma when his1 point of view is neither shared by the management board nor by the other supervisory board members: Should he resign or should he try to influence the others of his opinion? That is, in terms of Hirschman's (1970) classical work, should he 'exit' or 'voice'. This paper reports the findings regarding non-executive directors' choice based upon a qualitative and a quantitative study conducted among almost 300 Dutch supervisory directors

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European Management Journal
Erasmus Research Institute of Management

Hooghiemstra, R., & van Manen, J. (2002). Supervisory directors and ethical dilemmas: Exit or voice?. European Management Journal, 20(1), 1–9. doi:10.1016/S0263-2373(01)00104-9