Onur Bayar is Associate Professor of Finance at the College of Business at the University of Texas at San Antonio. He holds a Ph.D. degree in Finance from Boston College and an M.S. degree in Financial Economics from Carnegie Mellon University. His main research interests are in theoretical and empirical corporate finance with emphasis in entrepreneurial finance and venture capital. His secondary research interests include applied game theory, contract theory, and theoretical market microstructure. His recent research has focused on various aspects of IPOs and acquisitions as exit strategies by entrepreneurs and venture capitalists, equity carve-outs, and the role of heterogeneous beliefs in capital structure and payout policy. Dr. Bayar’s research has been presented at a number of national and international conferences, and has been published in several top scholarly journals in finance, including the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, the Journal of Corporate Finance, and the Review of Corporate Finance Studies.