Introduction to Corporate Finance

Ross et al.: Fundamentals

of Corporate Finance, Sixth

Edition, Alternate Edition

VI. Cost of Capital and

Long−Term Financial

Policy

(^566) 16. Raising Capital © The McGraw−Hill
Companies, 2002
538

FIGURE 16.3

Year

80 6040 200

120100

1965

1970

1975

1985

1980

1990

1995

Numberof offerings

2000

1960

Source: Roger G. Ibbotson, Jody L. Sindelar, and Jay R. Ritter, “The Market’s Problems with the Pricing of Initial Public Offer

ings,”

Journal of

Applied Corporate Finance

7 (Spring 1994), as updated by the authors.

Number of Offerings by Month for SEC-Registered Initial Public Offerings: 1960–2000