Paper Title
The Effects Of Managerial Hedging On The Underpricing Of Seasoned Equity Offerings

Abstract
This research contributes to the current literate in corporate finance by showing evidence that executive compensation hedging may provide benefits to shareholders. In other words, granting a CEO a hedging opportunity can be optimal because it makes the CEOs� ex-post incentives for project abandonment align more with the firm�s shareholders� incentive. Specifically, the findings show that firms allowing their executives to hedge their compensation are more likely to experience a lower degree of the underpricing of seasoned equity offerings, thereby providing more benefits to current shareholders. Indexterms:Seasoned Equity Offerings, SEO Underpricing, Managerial Hedging