Aligning Financing Strategies With Circular Business Principles: A Multicriteria Decision Framework
使用AHP和TOPSIS两种多准则决策方法，分析循环供应链原则与不同融资模式（如按需付费、绩效融资、绿色债券等）之间的关联，为制造业企业选择匹配的融资策略提供参考。
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.