This paper investigates the factors affecting on the capital structure of Construction firms listed on the Vietnamese Stock Exchange. Data used in the paper were collected from the 78 firms listed on Ho Chi Minh and Ha Noi Stock Exchange during time 2014-2016. By using the descriptive statistics and linear regression model, Fixed Effect Regression Model (FEM) and Random Effects Regression Model (REM), the findings shows that the capital structure of construction firms are significantly affected by the firm size, asset structure, operational efficiency, liquidity ratio, uniqueness and state ownership rate. Following are possible implications for the study.