参考下这篇文献吧:American Finance Association
On the Pricing of Corporate Debt: The Risk Structure of Interest Rates
Author(s): Robert C. Merton
Source:
[size=20.4468px]The Journal of Finance,
Vol. 29, No. 2, Papers and Proceedings of the Thirty-
Second Annual Meeting of the American Finance Association, New York, New York,
December 28-30, 1973 (May, 1974), pp. 449-470
Published by: Wiley for the American Finance Association
Stable URL: http://www.jstor.org/stable/2978814
KMV模型的推导基本都在这里了,我当时写的也是这方面的论文,但是是用R语言实现的,关键是你要用到解非线性方程的方法才能求出资产价值跟资产波动率,我是用牛顿迭代法去估计出该非线性方程的最优解的。