HOLDING COMPANY AND THE STATE: FINANCIAL COUNTERSTREAMS
Abstract
Financial relations between JSC «Russian Railways» and the state require optimization. In this regard, we believe that there is a need for an analytical assessment of trends of dynamics and patterns of formation of cash flows of the holding, including in areas such as public funding, debt financing, tax payments to the budget and non-budget funds.
The role of JSC «Russian Railways» in socioeconomic development can hardly be overestimated. The modern approach to finance rail transport leads to higher tariffs. Change of investment in rail transport at the expense of internal reserves (accrued taxes) will lead to economic growth, and the author’s analysis gives a base for this, showing ways of rational organization of counter financial flows.
Keywords
economy,
railways,
holding,
state financial relations,
cash flows,
taxes,
budget,
investments,
non-budget funds
About the Author
G. A. Khomenko
Irkutsk State University of Railway, Irkutsk
Russian Federation
assistant at the department of Finance and Accounting
Russian Federation
assistant at the department of Finance and Accounting
References
1. Елисеева И. И., Юрбашеев М. М. Общая теория статистики: учебник. – 5-е изд., перераб. и доп. – М.: Финансы и статистика, 2006. – 656 с. Eliseeva, I.I., Yurbasheev, M. M. General Theory of Statistics: textbook. 5th ed., rev. and enl. [Obshhaja teorija statistiki: textbook. 5-e izd., pererab. i dop.] Moscow, Finansy i statistika publ., 2006, 656 p.
2. Дягель О. Ю. Теория экономического анализа. – Красноярск, 2005. – 187 с. Dyagel, O. Yu. Theory of Economic Analysis [Teoriya ekonomicheskogo analiza]. Krasnoyarsk, 2005, 187 p.
3. ОАО «РЖД»: Финансовая отчетность по российским стандартам URL: http://ir.rzd.ru/static/public/ru? STRUCTURE_ID=32. JSC «Russian Railways”: Financial statements according to Russian standards [OAO «RZhD»: Finansovaja otchetnost» po rossijskim standartam] URL: http://ir.rzd.ru/static/public/ru? STRUCTURE_ID=32.
4. ОАО «РЖД»: Годовые отчеты компании URL: http://ir.rzd.ru/static/public/ru? STRUCTURE_ID=32. JSC «Russian Railways» company’s annual report [OAO «RZhD» Godovye otchety kompanii] URL: http://ir.rzd.ru/static/public/ru? STRUCTURE_ID=32.
Review
For citations:
Khomenko G.A. HOLDING COMPANY AND THE STATE: FINANCIAL COUNTERSTREAMS. World of Transport and Transportation. 2015;13(2 (57)):94-112.
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