The paper attempts to investigate the optimal capital structure of Vietnamese listed firms based on a structural approach. Using the data from around 70 companies in the Consumer Staples sector listed on the Vietnamese Stock Exchange during the period 2018–2020, this study finds that the...

This paper focuses on those structural models with an endogenous default barrier where firms optimally choose a default boundary so as to maximize the equity value. The analysis commences to cover avowedly theoretical frameworks from pioneering works by Black-Scholes (1973) and Merton (1974) on...