In its 2023 decision approving the acquisition of the Kansas City Southern Railway by the Canadian Pacific, the U.S. Surface Transportation Board conditioned its approval on the merged railway's commitment "to keep gateways open on commercially reasonable terms" - that is, to allow shippers and...

Der aktuelle Tarifkonflikt bei der Bahn führt wieder zu Streiks und starken Einschränkungen im Bahnverkehr. Der Beitrag fasst die Entwicklung und die rechtlichen Voraussetzungen des Konflikts zusammen und geht auf die verschiedenen Forderungen der Tarifparteien ein. Zudem stellt sich die...

The outbreak of the COVID-19 pandemic seriously affected railway businesses. The motivation of this study is to provide vital information to railway company management and policymakers by quantitatively assessing the cost efficiency of railway operations. We examine the efficiency of Japanese...

Die Politik hat der Eisenbahn eine wichtige Rolle bei der Senkung der Emissionen zugedacht. Aktuell zeigt sich allerdings, dass die DB AG als wichtigstes Unternehmen der Branche in Schwierigkeiten steckt. Die Zuverlässigkeit des Netzes sinkt dramatisch, sichtbar an abnehmender Pünktlichkeit...

The 1860s witnessed Britain's third, and last, large railway mania. Although it added about as much mileage to the rail network as the great Railway Mania of the 1840s, little is known about it in modern literature. This paper documents how this mania managed to delude investors into pouring...

The North Dakota Railroad War of 1905, which pitted a potential entrant (the Soo Line) against an established monopolist incumbent (the Great Northern Railway), offers a lucid empirical example of strategic behavior, and in particular the potential for entry deterrence through product...

This paper studies the role played by politics in shaping the Italian railway network, and its impact on long-run growth patterns. Examining a large state-planned railway expansion that took place during the second half of the 19th century in a recently unified country, we first study how both...

Die Eisenbahninfrastruktur des DB Konzerns wird seit der Bahnreform 1994 zusammen mit den Eisenbahnverkehrsunternehmen in einer vertikal integrierten Konzernstruktur organisiert. Diese Konzernstruktur steht jedoch im Verdacht, Wettbewerbsverzerrungen auf der Ebene der...

This project evaluates the optimal transport network in North America by first analyzing the proposed $25 billion merger between the Canadian Pacific Railway and the Kansas City Southern Railway. Then this project studies different sequences of mergers and find the optimal path of mergers to...

"This authorative volume assesses the origins and impact of the privatisation of the British railway industry. Conducted through a series of peer reviewed academic papers from leading international journals over the period 1996-2019, it explores why the British government pursued this policy,...

We provide information for railway systems based on 30 years' experience of Japanese railway privatization. First, we introduce the background, framework, and result of the Japanese National Railway reform, especially from the perspective of the former president of the JR Kyushu Railway Company....

We study dividend payments and earnings management in railway companies in the first decades of the 20th century. We argue that the historical organization of the Spanish railway industry as a complex net of 99-year concessionary contracts created predictable incentives for earnings management...

The early twentieth century saw the British capital market reach a state of maturity before any of its global counterparts. This coincided with more women participating directly in the stock market. In this paper, we analyse whether these female shareholders chose to invest independently of men....

Die Deutsche Bahn musste in den vergangenen sechs Jahren eine Gesamtdividende von 2,85 Mrd. Euro bei einem kumulierten Jahresergebnis von knapp 2,35 Mrd. Euro zahlen. Die DB Netz verfolgte in diesem Zeitraum eine monopolistische Preispolitik für die Verkehrsunternehmen auf den nachgelagerten...

The existing studies that investigate the effectiveness of yardstick regulation in the Japanese railway industry have presented conflicting conclusions. These previous studies have either compared results before and after the introduction of the yardstick regulation in 1997 or compared companies...

Prior literature studying railway accounting during the 19th and 20th centuries defends the thesis of lack of reliability of accounting figures. This prior research, which mainly studies the cases of the United Kingdom and the United States, offers mixed views on the causes, or simply accepts...

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...

Collusion is widely condemned for its negative effects on consumer welfare and market efficiency. In this paper, I show that collusion may also in some cases facilitate the creation of unexpected new sources of value. I bring this possibility into focus through the lens of a historical episode...

The paper provides information for railway systems based on 30 years' experience of Japanese railway privatization. First, we introduce the background, framework, and result of the Japanese National Railway reform, especially from the perspective of the former president of the JR Kyushu Railway...

This paper assesses the impact of European rail transport regulation in the past 25 years. It highlights competition as a necessary condition to overcome the inertia of legacy railway operators, but argues that competition is not sufficient to increase efficiency when they feel protected by the...

Transport played a central role during the pandemic, with aviation facilitating the rapid global spread of Covid-19. The sector was targeted by governments that imposed draconian restrictions on mobility in an attempt to reduce transmission, but at the same time supported the aviation and rail...

A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive"...

A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive"...

A number of formerly regulated multiproduct industries have a transitional or permanent residual regulatory mandate to protect consumers from "excessive" prices. The legislation that deregulated most rail rates contains a statutory mandate for the regulator to protect shippers from "excessive"...