The priority of the EU transport policy in railway sector is to open up the railway market. The objective is to provide railway undertakings with access to the railway network on equal terms. The main problem is deter...The priority of the EU transport policy in railway sector is to open up the railway market. The objective is to provide railway undertakings with access to the railway network on equal terms. The main problem is determining the infrastructure capacity. A variety of methodologies are used across Europe for the capacity estimation of railway infrastructure. This diversity has forced railway infrastructure managers to seek a new, common methodology. The UIC methodology is an easy way to calculate the capacity consumption. However, there the possibility to expound this methodology in different ways, which can result in different capacity consumptions. There isan advantage to improve this methodology and to set a clear and unified method of occupation time estimation. The fundamental improvement to UIC methodology is the definition of the occupation time by the trains. This paper gives a description of Slovak and UIC methodologies as a basis for a newly developed approach. The new way of estimation of the capacity consumption （occupation time） is based on a graphic approach. The new methodology concerns the estimation of the infrastructure occupation time and is a conceptual framework developed by the authors for an easier evaluation of occupation time in train traffic diagrams. The new methodology makes the UIC methodology more usable and enables more exact results to be obtained from infrastructure capacity examination.展开更多
This paper is a theoretical examination of untaxed and taxed entities that invest in real estate. The standard advice to real estate investors is to avoid using entities that are subject to taxation （such as C corpor...This paper is a theoretical examination of untaxed and taxed entities that invest in real estate. The standard advice to real estate investors is to avoid using entities that are subject to taxation （such as C corporations） and employ entities that are not subject to taxation （such as limited liability companies, S corporations, and real estate investment trusts） in order to avoid double taxation of income. This paper shows that, in most situations, untaxed entities place a greater value on a given real estate property than a taxed entity does, which implies that taxed entities are at a distinct disadvantage at competing in the market for property. However, this conclusion is reversed if untaxed entities use a large amount of financial leverage compared to taxed entities and the borrowing rate for both is greater than the risk-free rate.展开更多
文摘The priority of the EU transport policy in railway sector is to open up the railway market. The objective is to provide railway undertakings with access to the railway network on equal terms. The main problem is determining the infrastructure capacity. A variety of methodologies are used across Europe for the capacity estimation of railway infrastructure. This diversity has forced railway infrastructure managers to seek a new, common methodology. The UIC methodology is an easy way to calculate the capacity consumption. However, there the possibility to expound this methodology in different ways, which can result in different capacity consumptions. There isan advantage to improve this methodology and to set a clear and unified method of occupation time estimation. The fundamental improvement to UIC methodology is the definition of the occupation time by the trains. This paper gives a description of Slovak and UIC methodologies as a basis for a newly developed approach. The new way of estimation of the capacity consumption （occupation time） is based on a graphic approach. The new methodology concerns the estimation of the infrastructure occupation time and is a conceptual framework developed by the authors for an easier evaluation of occupation time in train traffic diagrams. The new methodology makes the UIC methodology more usable and enables more exact results to be obtained from infrastructure capacity examination.
文摘This paper is a theoretical examination of untaxed and taxed entities that invest in real estate. The standard advice to real estate investors is to avoid using entities that are subject to taxation （such as C corporations） and employ entities that are not subject to taxation （such as limited liability companies, S corporations, and real estate investment trusts） in order to avoid double taxation of income. This paper shows that, in most situations, untaxed entities place a greater value on a given real estate property than a taxed entity does, which implies that taxed entities are at a distinct disadvantage at competing in the market for property. However, this conclusion is reversed if untaxed entities use a large amount of financial leverage compared to taxed entities and the borrowing rate for both is greater than the risk-free rate.
