Amidst the escalating climate crisis—marked by record-breaking global temperatures, extreme weather events, and transgressed planetary boundaries—the circular economy has emerged as a promising strategy for sustainable development. This thesis explores the integration of circular economy principles in business models, addressing key gaps in their understanding and implementation through three articles. The first study critically reviews 37 classification schemas and 275 circular business model classes, identifying three common shortcomings and proposing both a glossary and a classifier-centric approach to enhance clarity and applicability. The second study investigates how firms transition to circularity, introducing a three-level analysis linking managerial practices, value dimensions, and resource retention options, resulting in actionable circular business model innovation patterns. The third study examines the financial impact of circular economy strategies on U.S. firms, revealing the varied effects of different strategies on firm value. Together, these studies enhance the theoretical, practical, and financial understanding of circular business models, contributing to their successful implementation and advancing the transition to a circular business model.
