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

23

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7,985

TOTAL CITATIONS
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Top 12,686

in Total Papers Citations

78

Scholarly Papers (23)

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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 1,905 (18,171)
Citation 27

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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 812 (62,797)
Citation 15

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Peer Monitoring, Venture Capital, Syndication

3.

Trademarks and Entrepreneurial Firm Success: Theory and Evidence from Venture Capital Investments in Private Firms and Initial Public Offerings

Forthcoming, Entrepreneurship Theory and Practice
Number of pages: 67 Posted: 12 Jun 2018 Last Revised: 15 Jan 2025
Onur Bayar, Thomas J. Chemmanur, Harshit Rajaiya, Xuan Tian and Qianqian Yu
University of Texas at San Antonio - Alvarez College of Business, Boston College - Carroll School of Management, University of Ottawa - Telfer School of Management, Tsinghua University - PBC School of Finance and Lehigh University
Downloads 786 (65,521)
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 726 (72,759)
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 555 (102,381)
Citation 10

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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 433 (138,573)

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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 413 (146,027)
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: 28 May 2024
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 318 (194,576)
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 298 (208,657)
Citation 2

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 214 (288,700)
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 84 (611,258)

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heterogeneous beliefs, management of innovation, equity carve-outs

10.

Optimal Financial and Contractual Structure for Building Infrastructure Projects using Public-Private Partnerships: Theory and Evidence

Number of pages: 73 Posted: 17 Jun 2016 Last Revised: 28 May 2024
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 257 (242,667)
Citation 4

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Infrastructure finance, Public-private partnerships, Build-operate-transfer (BOT), Build-operate-own (BOO), Performance guarantees, Limited-recourse project financing.

11.

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 229 (271,774)
Citation 2

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

12.

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 212 (292,503)

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

13.

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 198 (311,666)
Citation 1

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

14.

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

Number of pages: 69 Posted: 11 Jan 2020 Last Revised: 28 May 2024
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 187 (328,376)
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 135 (432,162)
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 104 (526,475)

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market microstructure, limit order markets, liquidity, private values

17.

Litigation and Information Effects on Private Sales of Securities

Journal of Corporate Finance, volume 88, 2024 [10.1016/j.jcorpfin.2024.102628]
Number of pages: 56 Posted: 13 Aug 2021 Last Revised: 29 Aug 2024
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 102 (533,667)
Citation 1

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JEL classification: G14, G23, G32, K41, K42 Law and Finance, Information Effects, Private Investments in Public Equity (PIPEs), Private Placements, Mitigation Actions

18.

Corporate Tax Avoidance and Stock Price Informativeness

Number of pages: 45 Posted: 20 Dec 2023
Onur Bayar, Fariz Huseynov, Yini Liu and Sabuhi Sardarli
University of Texas at San Antonio - Alvarez College of Business, North Dakota State University - College of Business, University of Western Ontario and Kansas State University - Department of Finance
Downloads 79 (625,084)

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Corporate Tax Avoidance; Stock Price Informativeness; Managerial Learning; Tax Planning

19.

Disagreement and Market Returns: Evidence from Institutional Investors' Portfolio Churn Rate 

Number of pages: 62 Posted: 25 Sep 2024 Last Revised: 27 Oct 2024
Onur Bayar, Ivalina Kalcheva, Ping McLemore and Hasan Zafer Yuksel
University of Texas at San Antonio - Alvarez College of Business, University of Texas at San Antonio - Department of Finance, Federal Reserve Banks - Quantitative Supervision & Research and University of Rhode Island - College of Business
Downloads 76 (638,280)

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disagreement, market returns, predictability, churn rate, institutional investors JEL Classifications: G12, G17

20.

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

Number of pages: 47 Posted: 06 Dec 2021 Last Revised: 28 May 2024
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 69 (671,720)

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

21.

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 52 (768,586)

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

22.

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 39 (863,770)

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

23.

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