In a homojunction device, a single organic layer assumes the multiple roles of hole, electron transportation, and emitter. Its ease in processing is highly desirable from the manufacturing point of view. In this paper, we shall describe the synthesis of a range of bipolar small molecules and conductive vinyl polymers for application in homojunction and heterojunction organic light emitting diodes (OLEDs). The bipolar materials, in general, consist of three basic building blocks: an arylamine, a 1,3,4-oxadiazole, and a polycyclic aromatic moiety. The achievement of charge balance can be validated either by direct measurement of electron/hole mobility or indirectly via optimization of device properties. A series of conductive vinyl copolymers containing hole transporting N-(4-methoxyphenyl)-N-(4-vinylphenyl) naphthalen-1-amine (4MeONPA) and electron transporting 2-phenyl-5-(4-vinylphenyl)-1,3,4-oxadiazole (OXA) at different compositions was applied for heterojunction and homojunction OLEDs. For heterojunction devices employed the copolymers as the hole transporting layer and Alq3 as the electron transporting and emitting layer, a maximum luminance and current efficiency of over 23000 cd/m2 and 4.2 cd/A (PL of Alq3), respectively, were achieved at the charge balance composition. Homojunction devices for the copolymers were demonstrated by the addition of rubrene as a dopant. The single layer devices at the optimal copolymer composition has ca 1500 cd/m2 and 0.74 cd/A.