{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,8,2]],"date-time":"2025-08-02T17:26:19Z","timestamp":1754155579417,"version":"3.41.2"},"reference-count":39,"publisher":"Emerald","issue":"3","license":[{"start":{"date-parts":[[2015,3,2]],"date-time":"2015-03-02T00:00:00Z","timestamp":1425254400000},"content-version":"tdm","delay-in-days":0,"URL":"https:\/\/www.emerald.com\/insight\/site-policies"}],"content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2015,3,2]]},"abstract":"<jats:sec>\n               <jats:title content-type=\"abstract-heading\">Purpose<\/jats:title>\n               <jats:p> \u2013 The purpose of this paper is to measure the financial risk and optimal capital structure of a corporation. <\/jats:p>\n            <\/jats:sec>\n            <jats:sec>\n               <jats:title content-type=\"abstract-heading\">Design\/methodology\/approach<\/jats:title>\n               <jats:p> \u2013 Irregular disjunctive programming problems arising in firm models and risk management can be solved by the techniques presented in the paper. <\/jats:p>\n            <\/jats:sec>\n            <jats:sec>\n               <jats:title content-type=\"abstract-heading\">Findings<\/jats:title>\n               <jats:p> \u2013 Parallel processing and mathematical modeling provide a fruitful basis for solving ultra-scale non-convex general disjunctive programming (GDP) problems, where the computational challenge in direct mixed-integer non-linear programming (MINLP) formulations or single processor algorithms would be insurmountable. <\/jats:p>\n            <\/jats:sec>\n            <jats:sec>\n               <jats:title content-type=\"abstract-heading\">Research limitations\/implications<\/jats:title>\n               <jats:p> \u2013 The test is limited to a single firm in an experimental setting. Repeating the test on large sample of firms in future research will indicate the general validity of Monte-Carlo-based VAR estimation. <\/jats:p>\n            <\/jats:sec>\n            <jats:sec>\n               <jats:title content-type=\"abstract-heading\">Practical implications<\/jats:title>\n               <jats:p> \u2013 The authors show that the risk surface of the firm can be approximated by integrated use of accounting logic, corporate finance, mathematical programming, stochastic simulation and parallel processing. <\/jats:p>\n            <\/jats:sec>\n            <jats:sec>\n               <jats:title content-type=\"abstract-heading\">Originality\/value<\/jats:title>\n               <jats:p> \u2013 Parallel processing has potential to simplify large-scale MINLP and GDP problems with non-convex, multi-modal and discontinuous parameter generating functions and to solve them faster and more reliably than conventional approaches on single processors.<\/jats:p>\n            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