Ontological principles of capital formation

The article is devoted to the ontological analysis of the phenomenon of capital formation in the context of the post-industrial transformation of the economy and the growing role of capital in intangible forms. The relevance of the study is determined by the need to rethink the theoretical foundations of capital as a fundamental category of economic science, as well as by the necessity to develop a new conceptual framework capable of explaining qualitative changes in the forms, sources, and mechanisms of capital formation in the modern socio-economic environment. The article conceptualizes capital formation as a complex, multidimensional phenomenon that cannot be reduced to purely financial investment, encompassing social, intellectual, cultural, digital, and institutional components. The study reveals meaningful differences in the understanding of capital formation at the macroeconomic level and at the level of business organizations. The macroeconomic aspect of capital formation is viewed as a continuously evolving process of capital stock accumulation, based on a complex mechanism of transforming savings into productive investment. At the level of business organizations, capital formation is characterized as a multilayered and multifaceted process that unfolds under post-industrial conditions and is shaped by a system of needs, economic interests, and individual, organizational, and societal values. Methodologically, the paper substantiates the need for an ontological approach, which allows the identification of immanent characteristics of capital formation — those that are internally inherent and consistently present regardless of the specific form of realization. The study identifies eight such immanent characteristics: transformational nature, temporal dynamism, accumulativeness, multiformity, productive orientation, risk component, value orientation, and institutional embeddedness. Special attention is given to the phenomenon of capital emanation, understood as a mechanism for generating new forms of capital — digital, brand-related, reputational, and social. In this context, capital is conceptualized as a self-developing phenomenon capable of adapting to environmental changes without losing its essence.The findings provide a conceptual foundation for further interdisciplinary research on the nature of capital and for developing strategies of effective capital formation in the digital economy.