Sheina E.G.Published in:
Russian Journal of Entrepreneurship
– Volume 18, Number 6 (March 2017)



Keywords: circulating assets, financial cycle, financing sources of the enterprise's working capital, operational cycle, payment and property approaches, working capital


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Abstract:

The article examines the economic essence, nature and category content of the concept “working capital”. The paper proposes a historical excursus on the study of this concept. We examined the evolution of views on its interpretation by different economists: from authors of classical economic thought to formulae of economists of the 21st century. As a result, we precise and give supplementary definitions of the concepts “circulating assets “ and "working capital". On the basis of the results of the analysis, we outlined two approaches for understanding of content of the concept "working capital", such as property and payment. The author examines current classification characteristics of the working capital. During the process of the study we revealed the insufficiency of the study and structuring of its financing sources. This fact stipulates for the development and justification of the author's classification of financing sources of the working capital of enterprises for its timely replenishment.

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