THEORETICAL IMPERATIVES FOR THE DEVELOPMENT OF THE DEFINITION OF "SHARE CAPITAL"

The article examines the theoretical aspects of the development of the definition of 'equity' as an economic category. Emphasis is placed on its evolution, the main approaches to its definition and its role in the modern economic system. It is established that capital is one of the main factors of production, ensuring economic growth and competitiveness of the national economy. Special attention is paid to the evolution of the concept of capital in historical retrospect – from classical political economy to modern financial and economic approaches. The main scientific approaches to interpreting the nature of share capital are analysed. It is found to have a dual nature, existing simultaneously in the form of real capital, represented by the tangible assets of the enterprise, and fictitious capital, reflected in the value of shares on the financial market. The contribution of Western and domestic economists to the formation of the conceptual foundations of equity capital is considered. It is noted that its peculiarity lies in the mobilisation of financial resources through the issue of shares, which contributes to the efficient management of capital, the distribution of risks and the expansion of the productive potential of enterprises. The role of equity capital in the functioning of economic systems and its impact on the financial stability of firms is highlighted. The main organisational and legal forms of its operation are outlined, among which joint-stock companies occupy a leading position. It is noted that equity capital is a dynamic category that is constantly changing its form and is involved in different areas of economic activity, such as industry, commerce, insurance and finance. It is concluded that equity capital plays an important role in ensuring the financial stability of enterprises and contributes to their long-term development. It is noted that in order to further improve the definition of equity capital, it is necessary to combine the theoretical developments of economists and the practical experience of joint-stock companies in different economic systems. Further research in this area will contribute to a better understanding of the mechanisms of the functioning of equity capital and its adaptation to the current challenges of economic development.