Aligning Financing Strategies With Circular Business Principles: A Multicriteria Decision Framework

IF 13.3 1区管理学 Q1 BUSINESS Business Strategy and The Environment Pub Date : 2025-02-12 DOI:10.1002/bse.4199

João Zambujal-Oliveira, Ana Franco, Beatriz Fernandes

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Abstract

Circularity principles, evident in closed-loop systems, aim to minimize waste and maximize value through material and product reuse, repair, refurbishment, and recycling. Circular practices can be financed using diverse models with different characteristics. Examples include pay-as-you-go, which involves usage-based payments; performance-based financing, which links funding to outcomes; grants, which provide nonrepayable support; public–private partnerships, which combine public and private resources; green bonds, which fund eco-friendly projects; and impact investing, which addresses social or environmental impacts alongside financial gains. To establish the correlation between circular supply chain principles and financing strategies, this study employed two multicriteria decision-making methods: the analytic hierarchy process (AHP) and Technique for Order of Preference by Similarity to Ideal Solution (TOPSIS). The obtained results were compared with findings from diverse manufacturing industries in existing literature.

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使融资战略符合循环商业原则：多标准决策框架

循环原则，在闭环系统中很明显，旨在通过材料和产品的再利用、维修、翻新和回收来减少浪费和最大化价值。循环实践可以使用具有不同特征的不同模型进行融资。例如，pay - as - you - go，这涉及到基于使用的支付；基于绩效的融资，将资金与成果联系起来；赠款，提供不可偿还的支助；公私伙伴关系，将公共和私人资源结合起来；绿色债券，为生态友好型项目提供资金；以及影响力投资，即在经济收益的同时解决社会或环境影响。为了建立循环供应链原则与融资策略之间的相关性，本研究采用了两种多准则决策方法：层次分析法（AHP）和理想解决方案相似性偏好排序法（TOPSIS）。所得结果与现有文献中不同制造业的研究结果进行了比较。

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来源期刊

Business Strategy and The Environment Multiple-

CiteScore

22.50

自引率

19.40%

发文量

336

期刊介绍： Business Strategy and the Environment (BSE) is a leading academic journal focused on business strategies for improving the natural environment. It publishes peer-reviewed research on various topics such as systems and standards, environmental performance, disclosure, eco-innovation, corporate environmental management tools, organizations and management, supply chains, circular economy, governance, green finance, industry sectors, and responses to climate change and other contemporary environmental issues. The journal aims to provide original contributions that enhance the understanding of sustainability in business. Its target audience includes academics, practitioners, business managers, and consultants. However, BSE does not accept papers on corporate social responsibility (CSR), as this topic is covered by its sibling journal Corporate Social Responsibility and Environmental Management. The journal is indexed in several databases and collections such as ABI/INFORM Collection, Agricultural & Environmental Science Database, BIOBASE, Emerald Management Reviews, GeoArchive, Environment Index, GEOBASE, INSPEC, Technology Collection, and Web of Science.