ECONOMIC EFFICIENCY OF THE HIGH-SPEED TRAINS RUNNING IN UKRAINE

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1 UDC : YU. S. BARASH 1*, T. V. POLISHKO 2, A. V. MOMOT 1 1* Dep. «Accouning, Audi and Inellecual Propery», Dniproperovsk Naional Universiy of Railway Transpor named afer Academician V. Lazaryan, Lazaryan S., 2, Dniproperovsk, Ukraine, 49010, el. +38(0562) , ubarash@mail.ru 2 Deparmen «Economics and Managemen», Dneproperovsk Naional Universiy of Railway Transpor named afer Academician V. Lazaryan, Lazaryana sr., 2, Dneproperovsk, Ukraine, ECONOMIC EFFICIENCY OF THE HIGH-SPEED TRAINS RUNNING IN UKRAINE Obecive. To develop mehodology of deerminaion of he high-speed running cos effeciveness in Ukraine. Mehodology. Economic usificaion of he high-speed running appropriaeness in Ukraine is he invesmen proec, providing sage-by-sage invesmens ino consrucion ha will give he possibiliy o obain annual revenue from he passenger ransporaions. For such problem solving, here is applied ne presen value ha may be obained by he Railway Transpor of Ukraine or newly esablished companies during he proec execuion and upon is compleion. Resuls. On he base of he carried ou analysis one may sae ha here is developed complex mehod of he high-speed rains consrucion and operaion effeciveness definiion wih consideraion of infrasrucure, rolling sock, ec., value. Scienific novely. There is proposed he scienific approach o definiion of he highspeed lines consrucion and operaion economic effeciveness ha specifies principles of heir consrucion value definiion, calculaion of he rolling sock unis quaniy, opimizes calculaions of revenue and expendiures in he conex of compeiive advanages and influence of exernal facors on he company aciviy ha will give he possibiliy o increase he feasibiliy of he managerial decisions and economic effeciveness of he high-speed ransporaions. Pracical relevance. Consideraion of he abovemenioned feaures increases feasibiliy of he managerial decisions as o high-speed ransporaion funcioning effeciveness ensuring. Key words: high-speed running, high-speed line, line opology, capial invesmens, ransporaion, infrasrucure, ransporaion income. Expendiures, revenue. Inroducion During several years here have been operaed in Ukraine he high-speed passenger rains Inerciy+, bu one canno describe heir running as effecive one, as such running is no large scale. Transfer o he passengers ransporaion wih he help of rains Inerciy+ is limied o presen number of highspeed rains, unfavourable schedule, high cos of ravel and considerable duraion of ravel o cerain cies of Ukraine. The menioned facors negaively influence on inroducion of high-speed running in Ukraine, reducing he demand for such rains usage a he ranspor marke of passenger ransporaion. Modern marke of passenger ransporaion services requires considerable speed of movemen, as passenger wan o ravel wihin he erriory of Ukraine for no more han 6 hours, comforably and a low cos. A presen, modern railway high-speed ransporaions do no comply wih such requiremens and a cerain direcions hey are even behind he flighs of budge companies and buses of lux class. In order o win is niche a he marke of ransporaion services Ukrainian railway high-speed company mus ge rid of menioned shorcomings, and Railway Transpor of Ukraine mus reconsruc railway infrasrucure for running of rains wih he speed up o 200km/hour, ha is very expensive. For furher increase of compeiive abiliy of he railway passenger ransporaion and subsiuion of air ranspor a cerain direcions in Ukraine, i is required o consruc isolaed lines for running of Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

2 rains wih he speed of km/hour, o include Ukrainian high-speed nework of Eurasian ranspor space and o arac for he high-speed lines (HSL) consrucion privae capial, as he sae is no able o give such money. The problem of he passenger railway ransporaions speed increase has been recenly sudies by such scieniss as A.A. Bosov, V.L. Dykan, Yu.S. Barash, O.M. Hnennyi, N.H. Cheliadinova, Yu.F. Kulaiev, I.M. Aksionov, V.P. Hudkova, O.M. Hudkov and ohers. However, complex scienific researches as o definiion of economic feasibiliy of consrucion and operaion of he high-speed lines in Ukraine have no been carried ou. In many counries of he world he high-speed running has already proved o be economically effecive. In Ukraine, his issue have been discussed since 2002, bu here is sill no defined feasibiliy of is inroducion, as i is required o improve foreign mehods of calculaion of perspecive mobiliy of he populaion of Ukraine wih consideraion of ransi, number of passengers, who will use highspeed lines, opimal areas of such rains running. Thus, he presen acual ask is he developmen of T ( Д ЧДД 0 З ) (1 (1 heoreical and mehodological approaches, as well as pracical recommendaions as o deerminaion of economic feasibiliy of he high-speed ransporaion wih consideraion of he ransi poenial of Ukraine. Obecive To develop mehodological approach and esablish procedures as o deerminaion of he highspeed running cos effeciveness in Ukraine. Mehodology Economic usificaion of he high-speed running appropriaeness in Ukraine is he invesmen proec, providing sage-by-sage invesmens ino consrucion ha will give he possibiliy o obain annual revenue from he passenger ransporaions. For such problem solving, here is applied ne presen value ha may be obained by he Railway Transpor of Ukraine or newly esablished companies during he proec execuion and upon is compleion ha is defined wih he help of formula (1) [11]. The implemenaion opion wih he maximum ne presen value will be he bes. ) A K max, Em ) (1) where ЧДД ne presen value, Д annual income ha may be obained by he Railway Transpor of Ukraine and newly esablished srucures in he resul of all he ypes of aciviy subec o differen opions of resrucuring, З annual aggregae expendiures of hisspeed company in he resul of all he ypes of aciviies subec o differen opions of resrucuring wihou depreciaion allowances, income ax amoun, %; A depreciaion allowances; K annual invesmens in consrucion or reconsrucion of high-speed lines subec o various opions, arge year number: = 0, 1, 2, 3, T (T - srucural reorganizaion duraion erm). The discoun rae, applied in formula (1) shall comply wih he concep of cash flows forecasing (base or anicipaed prices). In his paper, forecasing is carried ou on a base price erm. Thus, he discoun rae shall comply wih real rae of reurn on capial (i.e. rae of reurn, cleared from inflaionary componen). Such discoun rae is called in domesic lieraure as modified discoun rae. Real or modified discoun rae is conneced wih nominal rae of income according o he following formula 1 E /100 Em 1 1 p /100 E nominal income rae, %; p forecased rae of inflaion, %. Peculiariies of mehodological principles of he high-speed running funcioning effeciveness evaluaion. A perspecive calculaion here was applied he model of passenger ransporaion demand forecasing, worked ou wihin he program TASIS wih paricipaion of such companies as EPV Europrork Verkehr (Germany), SGTE (England), Giproransei (Russia) and Transpolis (Ukraine). To carry ou furher sudies, i is required o develop he algorihm of deerminaion of effecive- Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

3 ness of inroducion and funcioning of he highspeed ransporaion (fig. 1). This problem has been already parially sudied in Europe, CIS counries and Ukraine, bu here is sill no sysemaic scienific approach, considering mehodological principles of all he componens evaluaion. Such algorihm shall consider no only he sequence of sudies carrying ou, bu i also shall describe in deails economic calculaion a each sage, wih consideraion of specific naure of modern ranspor marke of he counry. Figure 1 shows aggregaive sequence of his problem soluion for he high-speed running. Furher sudies of economic effeciveness of consrucion and operaion of he high-speed lines shall be sared from arrangemen of he infrasrucure consrucion, procuremen of special rolling sock and deerminaion of heir value. The erm high-speed infrasrucure means: Isolaed high-speed gauges laid a he land plo and resle; Single premises; Required faciliies, elecriciy supply lines, lines of auomoive locking and communicaion; Railway saions for various purposes wih he required faciliies; Railroad passenger erminal; Car-repair plan; Car-repair depo; Oher engineering consrucions and communicaions, required for normal operaion of he previous iems. HSL opology deerminaion wih consideraion of he ciies populaion Deerminaion of he volume of passenger ransporaions along he HSL, each is area Calculaion of he high-speed rains number wih consideraion of heir running schedule and number of inermediae sops Calculaion of repair subdivisions (plans and depos) number Deerminaion of he HSL, separae sar-up faciliies consrucion sequence Calculaion of value of he high-speed line infrasrucure obecs and rolling sock a each sage and as o each sar-up faciliy Calculaion of income from passengers ransporaion as per separae sar-up faciliies of consrucion Calculaion of expendiures for passengers ransporaion along he HSL as per separae sarup faciliies and componens Calculaion of effeciveness (unprofiableness) of he passenger ransporaions as per separae sar-up faciliies Final deerminaion of he passenger ransporaion along he HSL effeciveness Soluion of he HSL financing problem a he accoun of differen sources Selecion of final HSL consrucion opion, sage-by-sage financing and aciviy effeciveness wih consideraion of dividends disribuion Fig. 1 Aggregae sequence of problem soluion for he high-speed running. Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

4 Taking ino accoun he high-speed lines opology a he erriory of Ukraine, here shall be consruced new echnical saion for repair and equipmen of he high-speed rains, several passenger erminal saions and ransi saion a four direcions of running. Number of car-repair sheds, power of passenger echnical saion (repair and equipmen depo) are defined wih he help of echnical and economical calculaions according o special regulaions. The value of he abovemenioned premises and communicaions may be approximaely deermined wih he help of calculaions, made by he company SYSTRA or scieniss from he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan in 2002 and 2004, respecively, wih he value adapaion o modern consrucion condiions. For mehodological deerminaion of he approximae value of he high-speed infrasrucure, one may use formula (2) ha gives he possibiliy o calculae invesmens ino consrucion: gauges on ground and resles, saion of various purpose and erminals, consruced according o ypical scheme, passenger echnical saions and car-repair depos, as well as oher engineering premises and communicaions. ВВІ L птс зп вк зп L вк вс вс вптс вд вік віс взав вшс д ест ест вв вв пр пр к к , (2) where ВВІ value of he high-speed infrasrucure, housand L зп gauges lengh on he ground wih consideraions of LEP, communicaion and auomoive locking lines, km; L ест gauges lengh on he resles wih consideraions of LEP, communicaion and auomoive locking lines, km; вк зп value of 1km of gouges on he ground, housand UAH per 1km; вк ест value of 1km of gouges on he resles, housand UAH per 1km; пр number of inermediae saion along he nework of he high-speed line, pcs.; к number of erminal saion along he nework of he high-speed line, pcs.; вс пр value of ypical inermediae saion along he nework of he high-speed line, housand вс к value of ypical erminal saion along he nework of he high-speed line, housand 1 number of passenger depos of he firs ype, pcs; 2 number of passenger depos of he firs ype, pcs.; вв 1 value of ypical passenger depo of he firs ype, housand вв 2 value of ypical passenger depo of he second ype, housand вптс number of passenger echnical saions for regular repair and equipmen of he high-speed rains, pcs.; вптс value of passenger echnical saions for regular repair and equipmen of he high-speed rains, housand д number of car-repair depos for repair of he high-speed rains, pcs.; вд value of ypical car-repair depo for repair of he high-speed rains, housand вік value of engineering communicaions for he high-speed lines mainenance, housand віс value of engineering premises for he high-speed lines mainenance, housand взав value of consrucion of he plan for repair of he high-speed rolling sock, housand вшс value of separae premises, housand Calculaion of rolling sock unis number (fig. 2) shall be made wih consideraion of cerain arrangemen of he high-speed rains running along he high-speed lines, forecased number of passen- Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

5 gers and a given direcion ( ), esimaed number of seas in rain ( КМП ), forecased rain occupancy ( l ), mean speed of he rain running ( v ) number of he rain periods of ourney per day ( ) according o he formula (3). КРС n r n n 1 КМП К рух очік, (3), (4) where: l рух duraion of he high- v speed rain running a he direcion, v km long and a average speed of km /hour; очік duraion of he high-speed rain down ime beween wo ourneys per day. I is worh menioning ha cerain high-speed rains may perform wo periods of ourney, as hey are operaed from 06:30 up o 23:00. Resricion of 15 hours is inroduced ino he formula (4) for sable operaion of various rains a one direcion. Esimaed number of he high-speed rains considerably depends on is srucure, number of moor inermediae and railing cars, as well as oal number of passenger seas. l Esimaed number of he rolling sock unis Period of he rain usage during year. Esimaed annual number of he ranspored passengers Esimaed number of seas in rain Coefficien, considering he rain occupancy Lengh of he running direcion Mean esimaed speed of he rain running Fig. 2 Principle of calculaion of he high-speed passenger rains number a he given running direcion. Calculaion of income from he ransporaions. I is very difficul o make forecass as o income form he passengers ransporaion wih he help of he high-speed rains, as i is impossible o calculae esimaed volumes of he passengers ransporaion in Ukraine wih high accuracy. There is he calculaion mehod of he French company SYSTRA, bu i does no consider ransi flow of he passengers from Russia and CIS, as well as Crimea and Odessa. The proposed by hem formula (5) is deermined in empirical way and has no physical sense. where H H A B ПAB k f L м T м, (5) П AB volume of ransporaions beween wo erminal saions А and B ; k, f model coefficien and ravel frequency, respecively; НА, Н B populaion of wo erminal saion ciies А and B ; L roue lengh; м Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

6 T м duraion of ravel wih by he highspeed rain beween he ciies А and B. In he process of his formula analysis, here emerge a lo of quesions: Wha for he number of he populaion of he ciies A and B is muliplied in he numeraor?; Wha for here are simulaneously presen he roue lengh and ravel duraion in he denominaor, as he las value depends on he firs one?; Wha is he coefficien and how is i deermined?; And he mos imporan, how does his formula consider he ransi passenger flow ha shall be reasonably parially ransferred o he high-speed communicaion? Below, he auhor proposes new formula (6) for calculaion of he esimaed volumes of he ransporaions along he high-speed line, ha will give he possibiliy o no only consider passenger ransi flow hrough Ukraine, bu also o disribue proporionally o he populaion of he ciies, included ino HSL he passengers per individual sies wih consideraion of he populaion mobiliy and wih consideraion of cerain peculiariies of ciies ha have influence on he ravel number: ( H Т )*( Н * Т А А В В П АВ 2 * * * Н ВШМ Т ВШМ ) R K K пас,(6) where П AB esimaed annual number of he passengers beween wo ciies А and B, housand persons; Н А, Н B populaion of he ciies А and B, respecively, housand persons; Т А, Т В ransi passenger flow from he CIS counries a saion А and a reverse direcion from saion B, housand persons; Н ВШМ oal number of populaion a all he saion of he high-speed line, housand persons; Т ВШМ ransi passenger form from he CIS counries a all saions of he high-speed line, housand persons; R Ukrainian populaion mobiliy along he HSL, share; K coefficien ha akes ino consideraion he duraion of he passengers ravel according o he mean ravel duraion of 4 hours, flucuaing from 0.75 o 1.25, share; K пас coefficien ha also akes ino consideraion he passengers ravel frequency a given sie (business rips, ransfer o fligh, off-work ime, ourism) ha flucuaes from 0.75 o 0.9 for adminisraive ceners wih populaion up o 600 housand and ciies Kryvyi Rih, Meliopol and Mariupol, for adminisraive ceners wih populaion housand and Lvov and Kharkiv, for Kyiv, Simferopol and Odesa. This coefficien is deermined in shares. Previously [16] here has been deermined he mobiliy of he populaion if Ukraine ha use railway ranspor. I is 1.4 ravels per year in far communicaion. The coefficien ha akes ino accoun he duraion of he passenger ravel beween he ciies, considerably influences on he HSL usage demand. For example, he duraion of ravel from Lvov o Simferopol is abou 6 hours. A he same ime he duraion of ravel from Kyiv and Dniproperovsk is abou wo hours. Due o such difference in ime he demand for he high-speed line flucuaes almos in wo imes. Such daa is observed in France and oher counries of Europe. The experience of he high-speed rains operaion in Ukraine in 2013 shows ha he demand for he passengers ransporaion beween Kharkiv and Kyiv 1.5 imes higher han beween Donesk and Kyiv, as he difference in he ravel duraion in 1.5 hour. The coefficien ha akes ino accoun he passengers ravel frequency a given direcion (business rips, ransfer o fligh, off-work ime, ourism) also considerably influences on he number of he ranspored passengers. For example, in summer, he flow of passenger going o Simferopol increases in several imes and may exceed oal populaion of he region. Such flucuaion of he passengers shall be considered a redisribuion of he passenger flow during year. Taking ino consideraion he abovemenioned, as well as value of revenue rae, he calculaion of income from he passengers ransporaion by he high-speed rains is carried ou wih he help of he following formula (9). ДВШП ( ns r 1 1 ns2 ns3) ДСвшр, (7) Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

7 ДВШП where income from he passengers ransporaion by he high-speed rains, UAH per passenger kilomeer; ns 1, ns2, ns3 esimaed number of passenger-kilomeers a he firs, second and hird areas of he passenger direcion. This daa may be calculaed wih he help of he abovemenioned mehod. I is assumed ha he high-speed rains will have no more han 2 sops a one direcion of he passenger ravel; ДС вшр mean income rae per 1 passengerkilomeer of he high-speed ravel, UAH. I is deermined for he mean speed of 200km/hour a he level of UAH per 1 passenger-kilomeer; r number of he high-seed areas beween he ciies of Ukraine ha is deermined wih he help of he high-speed lines opology. Expendiures for he passengers ransporaion. A presen, he PJSC Ukrzaliznysia calculaes expendiures for ransporaion of passengers wih he help of he form 10 ЗАЛ, ha akes ino consideraion all he expendiures for mainenance and repair of he railway infrasrucure, operaion and all he ypes of repair of cars, locomoives or cerain rains, mainenance and repair of all he ypes of communicaions and premises, ec. The high-speed companies will calculae he expendiures for deerminaion of he price cos of he passengers ransporaion in he same way, bu according o separae form, as all hese expendiures will ake place a isolaed high-speed line, where here will be separae erminal saions, carrepair depos, passenger echnical saions for rains equipmen, echnological mainenance premises and communicaions, as well as rolling sock. All he proceeds from he passengers ransporaion will be obained by he high-speed companyoperaor ha shall pay for services, provided by he company of he high-speed infrasrucure, for access o all is srucural subdivisions, inclusive of usage of waiing rooms and free of charge services of erminal saions. The company-operaor may be of any form of incorporaion bu i mus have own or operaed under conrac rolling sock. A he beginning, he company-operaor will be able o ranspor he passengers only subec o usage of services of he rolling sock operaion direcorae, i.e. he locomoive driver and his/her assisans shall be he represenaives of he special srucure wih license for ransporaions of he passengers by he high-speed rains. Aferwards, upon cerain period of work a he high-speed lines, he company-operaor will have he possibiliy o obain he license for ransporaion of passengers wih own locomoive driver and assisans. Every day, he high-speed rains shall undergo mainenance, shall be cleaned exernally and inernally, as well as hey shall be equipped. According o special schedule and esablished frequency, he rains shall undergo oher ypes of repair and echnical revision. For carrying ou of he menioned aciviies, he company-operaor shall pay in favour of he repair-equipmen depos (RED), locaed a he passenger echnical saions. For carrying ou of he scheduled ypes of repair of he high-speed rolling sock, he laer shall arrive wih cerain frequency o he car-repair depo or o he car-repair plan. For reducion of expendiures for consrucion, he repair-equipmen depo and he car-repair depo may be combined a one passenger echnical saion. By he way, par of car depos are combined wih he repair-equipmen poss in Ukraine. The passengers addiionally pays money for chargeable service a he erminal saion: Sorage of hings in luggage rooms; For chargeable waiing rooms; For services of service-cener; For chargeable WC s; For oher services, associaed wih he sale of goods, food, ec. Taking ino consideraion he abovemenioned, one may say ha he value of he passengers ransporaion by he high-speed rains composes of ariff and inermediary services, charged addiionally by he privae, inermediae companies-operaors. In is urn, he ariff for he passengers ransporaion by he high-speed rains composes of hree main componens: Infrasrucural componen ha is received by all he subdivisions of he high-speed infrasrucure; Locomoive componen ha is received by he rolling sock operaion direcorae; Oher expendiures of he high-speed company, compensaing he expendiures for all he ypes of repair, cleaning and equipmen of he rains. Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

8 A inroducion of he high-speed running, he passenger ransporaions may be carried ou by various companies-operaors of various forms of incorporaion ha may have no only is own rolling sock, bu also operae i under conrac. In case of operaion under conrac, he car componen shall be ransferred o he rains owner, and he company-operaor receives only paymen for inermediary services. In general, he expendiures for he passengers r5ansporaio by he high-speed rains may be calculaed wih he help of formula (8): ВВШП ППІ ПЕК ПРЕД ПДР ПЗР ВВШК,(8) where ВВШП oal expendiures of he highspeed company, housand ППЇ paymen for services of he high-speed infrasrucure, housand ПЕК paymen for usage of locomoive crew, housand ПРЕД paymen for services, associaed wih he mainenance and equipmen of he rains, housand ПДР paymen for depo repair of he rains, housand ПЗР paymen for plan repair of he rains, housand ВВШК own expendiures of he high-speed company, housand UAH. Influence of he exernal environmen facors on he high-speed companies aciviy. Normal funcioning of he passenger high-speed company considerably depends on exernal environmen facors, as hey may improve is aciviy or, vice versa, be an obsrucion. The greaer influence in he company-operaor aciviy have he consumers of he ranspor services or he passengers. Thus, for heir aracion i is required, firs of all, ha he company will work wih low profiabiliy, and hen, when he passengers flow increases, here will be he possibiliy o increase prices gradually, up o esimaed level. Taking ino consideraion he fac ha he ariffs for ransporaion will be conrolled by he independen, non-governmen auhoriy, he ransporaion value reducion shall be carried ou a he accoun of reducion of own income of he companyoperaor. Anoher facor ha also has considerable influence on he HSC funcioning effeciveness is compeiors. They include auomobile and air ranspor. Resuls On he base of he carried ou analysis, one may sae ha in his paper here is developed he mehodological approach o complex deerminaion of he high-speed lines consrucion and operaion effeciveness wih consideraion of he value of infrasrucure, rolling sock, exernal environmen facors influence, ec. Scienific novely and pracical relevance There is proposed he scienific approach o definiion of he high-speed lines consrucion and operaion economic effeciveness ha conrary o exising one includes improved principles of definiion of he passenger ransporaion number, HSL consrucion value, rolling sock unis number, opimizes calculaions of revenue and expendiures in he conex of compeiive advanages and influence of exernal facors on he company aciviy. There is improved he mehodological approach o calculaion of he perspecive volumes of ransporaions a he high-speed line ha considerably differs from he European one, proposed by he French company SYSTRA, as i gives he possibiliy o consider addiionally he passenger ransi flow hrough Ukraine, disribue he passengers beween cerain sies, proporionally o he populaion of ciies, included ino he high-speed line wih consideraion of average populaion mobiliy, duraion of ravel and coefficien ha addiionally akes ino accoun he passengers ravel frequency a given area, depending on purpose (business rip, ransfer o fligh, off-work ime and ohers). Consideraion of he abovemenioned facors increases feasibiliy of he managerial decisions as o he high-speed ransporaion funcioning effeciveness ensuring. There is improved scienific approach o deerminaion of he economic effeciveness of consrucion and operaion of he high-speed lines, ha specifies principles of calculaion of value of heir consrucion, number of he rolling sock unis, opimizes calculaions of revenue and expendiures in he conex of compeiive advanages and influence of exernal facors on he company aciviy. Consideraion of he abovemenioned facors increases feasibiliy of he managerial decisions as o he high-speed ransporaion funcioning effeciveness ensuring. Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

9 Conclusions On he base of he carried ou sudies, one may make he conclusion ha: 1. Exising mehodology of he HSL consrucion and operaion economic feasibiliy definiion, developed by he Dniproperovsk Naional Universiy of Railway Transpor on he base of he French company SYSTRA requires fine-uning in Ukraine. 2. New mehodology gives he possibiliy o disribue he passengers per cerain areas proporionally o he populaion of ciies, included ino he high-speed line wih consideraion of average populaion mobiliy and coefficien ha addiionally akes ino accoun he frequency of he passengers ravel a given area. 3. There is improved scienific approach o deerminaion of he economic effeciveness of consrucion and operaion of he high-speed lines, ha specifies principles of calculaion of value of heir consrucion, number of he rolling sock unis, opimizes calculaions of revenue and expendiures in he conex of compeiive advanages and influence of exernal facors on he company aciviy. Consideraion of he abovemenioned facors increases feasibiliy of he managerial decisions as o he high-speed ransporaion funcioning effeciveness ensuring. REFERENCE LIST: 1. Yu.S. Barash. Principles of deerminaion of he suburban rains running effeciveness a given direcion / Yu.S. Barash, T,Yu. Charkina, Yu.P. Maliansova, O.O. Karas // Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Reporer. D.: Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Issue 41. P Yu.S. Barash. Comparison of he ranspor ypes wih consideraion of sable sociey developmen / Yu.S. Barash, I.P. Korzhenevych, Lykhopek P.A. // Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Reporer. D.: Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Issue 28. P Yu.S. Barash. Theoreical and mehodological approach o deerminaion of he compeiive abiliy of he services, provided by he passenger ypes of ranspor / Ю Yu.S. Barash, A.A. Pokoilov, T.Yu. Charkina // Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Reporer. D.: Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan Issue 38. P Yu.S. Barash. Counry railway ranspor managemen: Monograph. 2 nd revision and appendix D. : Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan, p. 5. A.A. Bosov, H.N. Kirpa. Definiion of opions for raional nework of he high-speed lines in Ukraine D.: Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan, p. 6. V.L. Dykan. Enerprise compeiive abiliy ensuring: monograph / V.L. Dykan. Kh.: Osnova, p. 7. Repored daa of Ukrzaliznysia high-speed company for O.H. Kirdina. Mehodological aspecs of he invesmen-innovaive developmen of he railway complex of Ukraine: monograph / O.H. Kirdina. Kharkiv: UkrDAZT, p. 9. Concep of high-speed running of he passenger rains a railways of Ukraine inroducion in / Sae Adminisraion of he Railway Transpor of Ukraine. K., p. 10. A.V. Momo. Mehodological approach o deerminaion of raional spedds of he passenger rains running and raional areas of heir running / A.V. Momo // Transpor indusry problems : Collecion of scienific papers of Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan. D.: Publishing House of he Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan, Issue. 5. P Lis of expendiures for he main ypes of economic aciviy of he railway ranspor of Ukraine / Railway Transpor of Ukraine Order daed No. 417-Ц. // Ukrzaliznysia, p. 12. Preliminary echnical and economic raionaliy of he high-speed railways proec in Ukraine / «SYSTRA». K., Programs of economic reforms for Wealhy sociey, compeiive economy, effecive sae 2010; 14. Developmen of concep for he high-speed passenger rains running inroducion a he railways of Ukraine in / of Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan. D., Transpor sraegy of Ukraine for he period up o 2020, approved by he resoluion of he Cabine of Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

10 Minisers of Ukraine daed Ocober 20, 2010, No. 2174; 16. T.Yu. Charkina. Sudy of influence of he oal duraion of he passenger ravel on income of he ranspor enerprises / T. Yu. Charkina. Transpor economy and indusry reporer: collecion of scienific and pracical aricles. Kh.: UkrDAZT, No.39. P T.Yu. Charkina. Railway passenger ransporaion compeiive abiliy managemen a he marke of ranspor services. Self-referen hesis of he Ph.D. in Economics. Kh.: Dniproperovsk Naional Universiy of Railway Transpor, named afer V. Lazaryan, p. 18. T.Yu. Charkina. Improvemen of principles of passenger ransporaion compeiive abiliy managemen / T.Yu. Charkina // Scienific heoreical and pracical magazine Modern scienific reporer. Ser.: Economic sciences. Belgorod: Rosnauchkniga, No. 16 (128). P Indicaors of Susainable Developmen: Guidelines and Mehodologies Third ediion. Mehodology Shees. Unied Naions Developmen Programme. Environmen and Energy Group Bureau for Developmen Policy p. 20. INFRAS/IWW 2004: Exernal Coss of Transpor: Updae Sudy. Final Repor. Zurich/Karlsruhe Ю. С. БАРАШ 1*, Т. В. ПОЛІШКО 2, А. В. МОМОТ 1 1* Каф. «Облік, аудит та інтелектуальна власність», Дніпропетровський національний університет залізничного транспорту імені академіка В. Лазаряна, вул. Лазаряна, 2, 49010, Дніпропетровськ, Україна, тел. +38(0562) , ел. пошта ubarash@mail.ru 2 Каф. «Економіка і менеджмент», Дніпропетровський національний університет залізничного транспорту імені академіка В. Лазаряна, вул. Лазаряна, 2, 49010, Дніпропетровськ, Україна ЕКОНОМІЧНА ЕФЕКТИВНІСТЬ КУРСУВАННЯ ВИСОКОШВИДКІСНИХ ПОЇЗДІВ В УКРАЇНІ Мета. Розробити методику щодо визначення економічної ефективності високошвидкісного руху в Україні. Методика. Економічне обґрунтування доцільності організації високошвидкісного руху в Україні є інвестиційним проектом, який передбачає поетапне вкладання коштів у будівництво, що дозволить надалі отримувати щорічно прибутки від перевезення пасажирів. Для вирішення задач такого типу використовують чистий дисконтний дохід, який може отримати Укрзалізниця або новоутворені компанії під час реалізації проекту та після його закінчення. Результати. На основі виконаного аналізу можна констатувати, що в роботі розроблено комплексну методику визначення ефективності будівництва та експлуатації високошвидкісних поїздів з урахуванням вартості інфраструктури, рухомого складу та ін. Наукова новизна. Запропоновано науковий підхід щодо визначення економічної ефективності будівництва та експлуатації високошвидкісних магістралей, що на відміну від існуючого уточнює принципи визначення вартості їх будівництва, розрахунок кількості одиниць рухомого складу, оптимізує розрахунки доходів та витрат в контексті конкурентних переваг та впливу зовнішніх факторів на діяльність компанії, що дозволить підвищити обґрунтованість управлінських рішень та економічну ефективність функціонування високошвидкісних перевезень. Практична значимість. Врахування вищенаведених ознак підвищує обґрунтованість управлінських рішень щодо забезпечення ефективності функціонування високошвидкісних перевезень. Ключові слова: високошвидкісний рух, високошвидкісна магістраль, топологія магістралей, капітальні вкладення, перевезення, інфраструктура, доходи від перевезень, витрати, прибуток. Yu. S. Barash, T. V. Polishko, A. V. Momo,2014

11 Ю. С. БАРАШ 1*, Т. В. ПОЛИШКО 2, А. В. МОМОТ 1 1* Каф. «Учет, аудит и интеллектуальная собственность», Днепропетровский национальный университет железнодорожного транспорта имени академика В. Лазаряна, ул. Лазаряна, 2, 49010, Днепропетровск, Украина, тел. +38(0562) , эл. почта ubarash@mail.ru 2 Каф. «Экономика и менеджмент», Днепропетровский национальный университет железнодорожного транспорта имени академика В. Лазаряна, ул. Лазаряна, 2, 49010, Днепропетровск, Украина МЕТОДИЧЕСКИЙ ПОДХОД К ОПРЕДЕЛЕНИЮ ЭФФЕКТИВНОСТИ КУРСИРОВАНИЯ СКОРОСТНЫХ И ВЫСОКОСКОРОСТНЫХ ПОЕЗДОВ Цель. Разработать методику, касающуюся определения экономической эффективности высокоскоростного движения в Украине. Методика Экономическое обоснование целесообразности организации скоростного и высокоскоростного движения в Украине является инвестиционным проектом, который предполагает поэтапное вложение денег в строительство и позволит в дальнейшем получать ежегодно прибыли от перевозки пассажиров. Для решения задач такого типа используют чистый дисконтированный доход, который может получить Укрзализныця или вновь созданные компании во время реализации проекта и после его окончания. Результаты. На основе проведенных исследований можно констатировать, что в статье разработан методический подход для комплексного определения эффективности строительства и эксплуатации скоростных и высокоскоростных пассажирских поездов с учетом стоимости инфраструктуры, подвижного состава, воздействия факторов внешней среды и т.д. Научная новизна. Предложен научный подход для определения экономической эффективности строительства и эксплуатации высокоскоростных магистралей, который в отличие от существующего включает усовершенствованные принципы определения количества перевезенных пассажиров, стоимости строительства ВСМ, количества единиц подвижного состава, оптимизирует расчеты доходов и затрат в контексте конкурентных преимуществ и влияния внешних факторов на деятельность компании. Практическая значимость. Учет вышеприведенных факторов повышает обоснованность управленческих решений, касающихся обеспечения эффективности функционирования высокоскоростных перевозок. Ключевые слова: скоростное и высокоскоростное движение, высокоскоростная магистраль, топология магистралей, капитальные вложения, перевозки, инфраструктура, доходы, затраты, прибыль. Yu. S. Barash, T. V. Polishko, A. V. Momo,2014