Rail System Investment Analysis: Manual for Determining Return from the Individual Corporate Perspective

摘要

The manual is addressed to railroad employees responsible for conducting financial analyses of projects proposed for inclusion in a railroad's capital budget. Parts of the manual, such as the executive introduction, will also be of interest to the railroad officials who review such analyses and make decisions based on them. The recommended procedures take the best features of the approaches currently being used on 13 railrods cooperating with the study. The recommended procedures have been carefully checked for theoretical soundness, and have been tested on several dozen actual railroad investments. The recommended procedures are consistent with the Federal Railroad Administration's regulations governing rate of return computations in applications for federal aid under Title V of the Rail Revitalization and Regulatory Act of 1976.