We develop and test a model in which managerial overconfidence offsets the underinvestment problem arising from managerial myopia. Using a three-period investment model in which we capture managerial myopia by hyperbolic discounting, we show that both overconfident owner-managers and...

This paper examines the human network of entrepreneurs, and demonstrates the secrets of effective top management teams. More specifically, among entrepreneurs, founders in particular are dynamic by nature and familiar with their own business. However, some lack good skills in marketing and...