Capitalization of enterprise assets in the transition to circular resource consumption models

Abstract

The relevance of the study is determined by the need to revise mechanisms for asset capitalization amid global resource constraints and growing demands for sustainable development.

The aim of the study is to provide theoretical and methodological substantiation of the peculiarities of enterprise asset capitalization in the context of the transition to circular resource consumption models.

The study employs the following methods: analysis of scientific literature to examine contemporary research on the subject; generalization and systematization to present the research findings.

It has been found that transforming linear production systems into closed-loop models fundamentally changes the economic essence of enterprise assets and expands the boundaries of their value interpretation. It is shown that within circular systems, assets should be assessed not only for their ability to generate short-term financial returns, but also for their regenerative potential, adaptability, and impact on the creation of long-term enterprise value. It has been established that the asset structure of enterprises undergoes qualitative shifts characterized by an increasing share of intangible components, particularly digital technologies, eco-design competencies, innovative intellectual property, and organizational capital. It is substantiated that capitalization in circular conditions requires integrating environmental and social parameters into financial valuation models, thereby enhancing transparency and improving investment attractiveness. It is generalized that life-cycle costing, ESG-adjusted financial indicators, and closed-loop asset management models contribute to a more comprehensive assessment of enterprise value. It is proven that circular transformation reduces the risks of resource dependency, stabilizes cash flows through extended product life cycles and service-based models, and strengthens competitive advantages in emerging markets.

Thus, capitalization in the context of circular resource consumption should be interpreted as a multifaceted process that combines financial efficiency, environmental responsibility, and innovative capacity. The transition to circular models is a prerequisite for sustainable growth in enterprise market value through the optimization of asset structures, diversification of investment sources, and enhancement of strategic resilience.