Onur Bayar

University of Texas at San Antonio - Alvarez College of Business

Professor of Finance

The University of Texas at San Antonio

One UTSA Circle

San Antonio, TX 78249

United States

  • University of Texas at San Antonio - Alvarez College of Business

    • Email
    • Tel: 210-458-6837
    • Fax: 210-458-6320
SCHOLARLY PAPERS

21

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SSRN CITATIONS
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Top 12,363

in Total Papers Citations

61

CROSSREF CITATIONS

55

Scholarly Papers (21)

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1.

IPOs versus Acquisitions and the Valuation Premium Puzzle: A Theory of Exit Choice by Entrepreneurs and Venture Capitalists

Journal of Financial and Quantitative Analysis (JFQA), December 2011, 46 (6), 1755-1793
Number of pages: 71 Posted: 28 Feb 2007 Last Revised: 19 Jun 2015
Onur Bayar and Thomas J. Chemmanur
University of Texas at San Antonio - Alvarez College of Business and Boston College - Carroll School of Management
Downloads 1,778 (16,974)
Citation 19

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IPOs, acquisitions, venture capital, entrepreneurial finance, exit strategy, product market competition

2.

Peer Monitoring, Syndication, and the Dynamics of Venture Capital Interactions: Theory and Evidence

Journal of Financial and Quantitative Analysis (JFQA), September 2020, 55(6), 1875-1914
Number of pages: 76 Posted: 10 Apr 2019 Last Revised: 11 Aug 2021
Onur Bayar, Thomas J. Chemmanur and Xuan Tian
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and Tsinghua University - PBC School of Finance
Downloads 769 (57,015)
Citation 14

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Peer Monitoring, Venture Capital, Syndication

3.

Trademarks and Entrepreneurial Firm Success: Theory and Evidence from Private Firm Exits and Initial Public Offerings

Number of pages: 89 Posted: 12 Jun 2018 Last Revised: 21 Aug 2021
Thomas J. Chemmanur, Harshit Rajaiya, Xuan Tian, Qianqian Yu and Onur Bayar
Boston College - Carroll School of Management, University of Ottawa - Telfer School of Management, Tsinghua University - PBC School of Finance, Lehigh University and University of Texas at San Antonio - Alvarez College of Business
Downloads 696 (65,172)
Citation 1

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Trademarks; Initial Public Offerings (IPOs); Valuation; Private Firm Exit; Post-IPO Operating Performance

4.

What Drives the Valuation Premium in IPOs versus Acquisitions? An Empirical Analysis

Journal of Corporate Finance, June 2012, 18 (3), 451-475
Number of pages: 61 Posted: 27 Oct 2009 Last Revised: 19 Jun 2015
Onur Bayar and Thomas J. Chemmanur
University of Texas at San Antonio - Alvarez College of Business and Boston College - Carroll School of Management
Downloads 625 (74,603)
Citation 8

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IPOs, Acquisitions, Valuation premium, Private firms, Exit mechanisms, Going public

5.

Corporate Governance, Tax Avoidance, and Financial Constraints

Financial Management, Fall 2018, 47(3), 651-677
Number of pages: 42 Posted: 28 Dec 2017 Last Revised: 16 Jun 2019
Onur Bayar, Fariz Huseynov and Sabuhi Sardarli
University of Texas at San Antonio - Alvarez College of Business, North Dakota State University - College of Business and Kansas State University - Department of Finance
Downloads 483 (102,628)
Citation 5

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Tax Avoidance, Financial Constraints, Corporate Governance, Agency Problems

6.

The Impact of Social Media on Venture Capital Financing: Evidence from Twitter Interactions

Forthcoming in Review of Quantitative Finance and Accounting
Number of pages: 61 Posted: 30 Nov 2020 Last Revised: 17 Sep 2023
Onur Bayar and Emre Kesici
University of Texas at San Antonio - Alvarez College of Business and University of Texas at San Antonio
Downloads 380 (135,628)

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Venture Capital, Stage Financing, Syndication, Signaling, Information Acquisition, Screening, Electronic Word of Mouth, Learning, Social Media, Machine Learning, Twitter API

7.

Dividends versus Stock Repurchases and Long-Run Stock Returns under Heterogeneous Beliefs

Review of Corporate Finance Studies (RCFS), September 2021, 10(3), 578-632
Number of pages: 81 Posted: 30 Jun 2013 Last Revised: 16 Sep 2021
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 372 (139,688)
Citation 1

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Dividends, Stock repurchases, Heterogeneous beliefs, Long-run stock returns, Payout policy

8.

How to Motivate Fundamental Innovation: Optimal Interactions between Entrepreneurs, Venture Capitalists, and the Government

Number of pages: 82 Posted: 23 Jun 2016 Last Revised: 19 Jun 2023
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 265 (198,588)
Citation 2

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Financing of innovations, Fundamental innovation, Venture capital financing, Innovation and the going public decision, Government subsidies, Innovation prizes.

9.

A Theory of Equity Carve-Outs and Negative Stub Values under Heterogeneous Beliefs

Downloads 262 (200,801)
Citation 9

A Theory of Equity Carve-Outs and Negative Stub Values under Heterogeneous Beliefs

Journal of Financial Economics (JFE), June 2011, 100 (3), 616-638
Number of pages: 53 Posted: 25 Mar 2008 Last Revised: 19 Jun 2015
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 197 (262,863)
Citation 2

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heterogeneous beliefs, equity carve-outs, negative stub values

Management of Innovation, Equity Carve-Outs, and Negative Stub Values under Heterogeneous Beliefs

Number of pages: 47 Posted: 07 Mar 2008 Last Revised: 24 Nov 2018
Thomas J. Chemmanur, Onur Bayar and Mark H. Liu
Boston College - Carroll School of Management, University of Texas at San Antonio - Alvarez College of Business and University of Kentucky - Gatton College of Business and Economics
Downloads 65 (590,612)

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heterogeneous beliefs, management of innovation, equity carve-outs

10.

A Theory of Capital Structure, Price Impact, and Long-Run Stock Returns under Heterogeneous Beliefs

Review of Corporate Finance Studies (RCFS), September 2015, 4 (2), 258-320
Number of pages: 68 Posted: 19 Mar 2010 Last Revised: 05 May 2016
Onur Bayar, Thomas J. Chemmanur and Mark H. Liu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Kentucky - Gatton College of Business and Economics
Downloads 214 (244,257)
Citation 2

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Capital Structure, Heterogeneous Beliefs, Convertible Debt Issues, Security Tranching, Price Impact, Long-Run Stock Returns.

11.

Implementing Infrastructure Projects using Public-Private Partnerships and Limited-Recourse Project Financing: An Analysis of Financial and Contractual Structure

Number of pages: 67 Posted: 17 Jun 2016 Last Revised: 21 Jul 2020
Sanjay Banerji, Onur Bayar and Thomas J. Chemmanur
University of Nottingham, University of Texas at San Antonio - Alvarez College of Business and Boston College - Carroll School of Management
Downloads 208 (250,654)
Citation 4

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Infrastructure finance, Capital structure, Ownership structure, Build-operate-transfer, Build-operate-own, Performance guarantees, Limited-recourse project financing.

12.

Optimal Disclosure and Litigation Rules Around IPOs and SEOs

Kenan Institute of Private Enterprise Research Paper No. 19-19
Number of pages: 61 Posted: 28 Nov 2017 Last Revised: 15 May 2019
Onur Bayar, Thomas J. Chemmanur and Paolo Fulghieri
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of North Carolina Kenan-Flagler Business School
Downloads 180 (285,285)
Citation 1

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Disclosure rules, initial public offerings (IPOs), seasoned equity offerings (SEOs), disclosure regulation, private securities litigation

13.

How Reverse Merger Firms Raise Capital in PIPEs: Search Costs and Placement Agent Reputation

Review of Quantitative Finance and Accounting (RQFA), January 2021, 56(1), 143-184.
Number of pages: 54 Posted: 28 Jun 2019 Last Revised: 11 Aug 2021
Onur Bayar, Yini Liu and Juan Mao
University of Texas at San Antonio - Alvarez College of Business, University of Western Ontario and University of Texas at San Antonio - Department of Accounting
Downloads 142 (348,096)

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Private Investment in Public Equity; Reverse Mergers; Financial Intermediaries; PIPEs with multiple closings; Financial Contracting; IPOs

14.

Product Cannibalization, Corporate Restructuring, and Innovation: A Theory of How Existing Product Lines Affect Firms’ Innovation and Commercialization Incentives

Number of pages: 55 Posted: 11 Jan 2020 Last Revised: 04 Jan 2023
Onur Bayar, Thomas J. Chemmanur and Qing Ma
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Nottingham-Nottingham University Business School
Downloads 140 (351,969)
Citation 3

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Innovation; Spin-offs; Asset sales; Product cannibalization; Commercialization

15.

A Model of the Editorial Process in Academic Journals

Research Policy, Vol. 50, No. 9, 2021
Number of pages: 65 Posted: 15 Mar 2012 Last Revised: 10 Aug 2021
Onur Bayar and Thomas J. Chemmanur
University of Texas at San Antonio - Alvarez College of Business and Boston College - Carroll School of Management
Downloads 110 (421,518)
Citation 1

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Editorial process; Peer review; Academic journals; Entrepreneurial finance.

16.

Liquidity Provision in a Limit Order Book without Adverse Selection

Journal of Economics and Business, Volume 66, March–April 2013, Pages 98–124
Number of pages: 47 Posted: 17 Jan 2013 Last Revised: 02 Jul 2013
Onur Bayar
University of Texas at San Antonio - Alvarez College of Business
Downloads 96 (463,296)

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market microstructure, limit order markets, liquidity, private values

17.

Litigation and Information Effects on Private Sales of Securities

Number of pages: 53 Posted: 13 Aug 2021 Last Revised: 31 Aug 2023
Onur Bayar, Ioannis V. Floros, Yini Liu and Juan Mao
University of Texas at San Antonio - Alvarez College of Business, University of Wisconsin - Milwaukee - Department of Finance, University of Western Ontario and University of Texas at San Antonio - Department of Accounting
Downloads 66 (577,038)

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Law and Finance; Information Effects; Private Investment in Public Equity (PIPE); Private Placements; Mitigation Actions

18.

Credit Rating, Reputation Spill-Overs, and Debt Contract Structure: A New Rationale for Limited-Recourse Project Financing

Number of pages: 48 Posted: 06 Dec 2021
Onur Bayar, Thomas J. Chemmanur and Qing Ma
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management and University of Nottingham-Nottingham University Business School
Downloads 47 (676,289)

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Debt structure, Limited-recourse project financing, Credit market reputation, Credit rating.

19.

Shareholder Litigation and Short Selling Ahead of Private Equity Placements

Forthcoming, Financial Review, https://doi.org/10.1111/fire.12347
Number of pages: 45 Posted: 26 May 2023 Last Revised: 02 Jun 2023
Onur Bayar, Yini Liu and Juan Mao
University of Texas at San Antonio - Alvarez College of Business, University of Western Ontario and University of Texas at San Antonio - Department of Accounting
Downloads 39 (728,068)

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Short Selling; Private Investment in Public Equity (PIPE); Law and Finance; Securities Class Action Litigation.

20.

Heterogeneity in the Information Content of 8-K Disclosures about Private Targets: Acquirer Size and Target Significance

Global Finance Journal (GFJ), May 2021, 48, 100559
Number of pages: 45 Posted: 12 Aug 2020 Last Revised: 11 Aug 2021
Onur Bayar, Sougata Das and Emre Kesici
University of Texas at San Antonio - Alvarez College of Business, Montana State University Billings and University of Texas at San Antonio
Downloads 25 (836,611)

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Takeovers of Private Targets, Public Acquirers, Mergers and Acquisitions, Disclosure Requirements, Information Transparency

21.

The Dynamics of Entrepreneurial Firm Exit Choice and the IPO Valuation Premium: Theory and Evidence

Posted: 07 Jun 2023
Onur Bayar, Thomas J. Chemmanur, Christos Mavrovitis (Mavis) and Evangelos Vagenas-Nanos
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management, University of Surrey - Surrey Business School and University of Glasgow

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Private firm exits, Initial public offerings (IPOs), Acquisitions, IPO valuation premium dynamics, Decline in IPOs