Subject. The article is devoted to the application of taxonomy to financial capital. It considers the taxonomic approach, enabling to systematize diverse forms of capital and identify their interconnections, developmental dynamics, and impact on economic processes. Objectives. The aim is to elaborate a scientifically grounded taxonomy of financial capital in the stock market, reflecting the evolution of its forms, and providing a comprehensive understanding of directions of its development. Methods. The study rests on the comprehensive approach, incorporating theoretical analysis of academic literature, historical analysis of financial instrument evolution, and comparative analysis of traditional and digital forms of capital. Methods of systematization and classification were used to identify key taxonomy criteria. Results. The elaborated taxonomy of financial capital reflects its evolution. The advancement of technology and financial markets resulted in the diversity of the forms of capital, though its essence remains unchanged: it continues to perform the same fundamental functions, with their forms adapting to modern conditions. Digital forms of capital in the Russian stock market represent modified versions of traditional financial instruments, tailored to contemporary technologies, processes of digitalization and decentralization of financial and settlement systems, along with their regulatory mechanisms. Conclusions. The findings demonstrate that new forms of capital do not change its essence, but rather contribute to the transformation of basic functions of capital saving, redistribution, and liquidity.
Keywords: market, financial capital, digital financial asset, evolution of economic systems, interdisciplinary approach
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