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Liburkina L. M.

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Inclusive and Sustainable Development Policy of Leading Railway Industry Companies and Their Investment Attractiveness
Mnykh O. B.

Mnykh, Olga B. (2025) “Inclusive and Sustainable Development Policy of Leading Railway Industry Companies and Their Investment Attractiveness.” Business Inform 10:114–122.
https://doi.org/10.32983/2222-4459-2025-10-114-122

Section: International Economic Relations

Article is written in Ukrainian
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UDC 656.338

Abstract:
The article examines the features of the formation of a policy of inclusiveness and sustainable development in the railway industry at the macro- and microeconomic levels in the context of the digitalization of world economies. The main emphasis is on creating the prerequisites for the implementation of social innovations and diversified development of manufacturing companies in the face of strict environmental restrictions affecting the railway industry and its mobility policy, allowing to expand the package of marketing services for different categories of consumers and enhancing the dynamics of economic indicators.It is proved that the model of unilateral economic development of railways in Europe and the world, which did not connect economic reforms and adaptation mechanisms with social, political, cognitive and environmental factors and neglected the pace of increase in social values, turned out to be destructive in the 21st century. Industry 5.0 and circular economy models have been identified as priority areas for network modernization and digitalization in the railway sector and as factors for the functional load of an inclusive economy and strengthening the interaction of market participants and stakeholders in ensuring sustainable development goals. Іnfrastructure and investments in eco-technologies have been shown to create huge potential for savings in operating and other costs, especially in combination with the interoperability program, and this dynamic is stimulating the entry of new players into the market.Economic and mathematical models are presented that reflect the investment attractiveness of leading companies in the railway industry due to their eco-oriented strategy and principles of sustainable development. A contentual model of sustainable development of railway companies and its implementation in the marketing activities of companies has been built, and the interaction of the main processes that influence socioeconomic and environmental effects in the railway industry has been determined.

Keywords: inclusiveness policy, sustainable development, railway industry, mobility of railway systems, investment attractiveness, environmental innovations, social innovations, behavior of market agents.

Fig.: 3. Tabl.: 1. Formulae: 1. Bibl.: 17.

Mnykh Olga B. – Doctor of Sciences (Economics), Professor, Professor, Department of Marketing and Logistics, Lviv Polytechnic National University (12 Stepana Bandery Str., Lvіv, 79013, Ukraine)
Email: [email protected]

List of references in article

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Alstom ADR Financial Statements 2015–2025. https://www.macrotrends.net/stocks/charts/ALSMY/alstom-adr/financial-statements
Di Pietrantonio, L., & Pelkmans, J. (2004). The Economics of EU Railway Reform. Competition and Regulation in Network Industries, 5(3–4). https://doi.org/https://doi.org/10.1177/178359170400500304
Dykan, V. L., & Korin, M. V. (2015). Rozvytok vysokoshvydkisnoho rukhu v Ukraini na osnovi formuvannia vyrobnycho-lohistychnykh klasteriv [Development of high-speed traffic in Ukraine based on the formation of production and logistics clusters]. Zbirnyk naukovykh prats Ukrainskoho derzhavnoho universytetu zaliznychnoho transportu, 154, 98–103. http://nbuv.gov.ua/UJRN/Znpudazt_2015_154_19
Eurostat. (2024). Key Figures on European Transport. 2024 Edition. https://ec.europa.eu/eurostat/documents/15216629/20875401/KS-01-24-021-EN-N.pdf
Goutille, Ya., & Truflandier, J. (2022). Current trends and developments in global rail, infrastructure and rolling stock. Nexans.
Kitishian, D. Union Pacific’s AI Strategy: Analysis of Dominance in Railroad. https://www.klover.ai/union-pacific-ai-strategy-analysis-of-dominance-in-railroad/
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Sarp, S., Kuzlu, M., Jovanovic, V., et al. (2024). Digitalization of railway transportation through AI-powered services: digital twin trains. European Transport Research Review, 16(58). https://doi.org/10.1186/s12544-024-00679-5
Thompson, S. Inclusive Marketing: The Ultimate Guide. https://inclusionandmarketing.com/inclusive-marketing/
Tokmakova, I. V., Cherednychenko, O. Yu., Voitov, I. M., & Palamarchuk, Ya. S. (2019). Tsyfrova transformatsiia zaliznychnoho transportu yak faktor yoho innovatsiinoho rozvytku [Digital transformation of railway transport as a factor of its innovative development]. Visnyk ekonomiky transportu i promyslovosti, (68), 125–134. https://doi.org/10.18664/338.47:338.45.v0i68.189068
Tsapko-Piddubna, O. I. (2018). Pryntsyp inkliuzyvnosti u suchasnykh kontseptsiiakh ekonomichnoho zrostannia [The principle of inclusiveness in modern concepts of economic growth]. Problemy ekonomiky, (3), 29–36. https://www.problecon.com/export_pdf/problems-of-economy-2018-3_0-pages-29_36.pdf
Utsunomiya, K., Sanko, N., & Keumi, Ch. (2023). Expectations and satisfaction towards railway companies by residents in Japan. Research in Transportation Economics, 100, 101303. https://doi.org/10.1016/j.retrec.2023.101303
WPI. (2020, December 10). Get on Board – The Economics of Making the Rail Network Fully Accessible. https://wpieconomics.com/wp-content/uploads/2020/12/Get-on-Board-The-economics-of-making-the-rail-network-fully-accessible-FINAL.pdf
Zvarych, I., & Brodovska, O. (2023). Determinanty formuvannia inkliuzyvnoi ekonomiky krain Blyzkoho Skhodu ta yii sotsialno-ekonomichni naslidky [Determinants of the formation of an inclusive economy of the Middle East countries and its socio-economic consequences]. Ekonomichnyi analiz, 33(2), 291–300. https://doi.org/10.35774/econa2023.02.291
AI on track: Revolutionising rail services with artificial intelligence. https://worldline.com/content/dam/worldline/global/documents/white-papers/Whitepaper-AIMobility-Digital.pdf
Alstom ADR Financial Statements 2015–2025. https://www.macrotrends.net/stocks/charts/ALSMY/alstom-adr/financial-statements
Di Pietrantonio, L., & Pelkmans, J. (2004). The Economics of EU Railway Reform. Competition and Regulation in Network Industries, 5(3–4). https://doi.org/https://doi.org/10.1177/178359170400500304
Dykan, V. L., & Korin, M. V. (2015). Rozvytok vysokoshvydkisnoho rukhu v Ukraini na osnovi formuvannia vyrobnycho-lohistychnykh klasteriv [Development of high-speed traffic in Ukraine based on the formation of production and logistics clusters]. Zbirnyk naukovykh prats Ukrainskoho derzhavnoho universytetu zaliznychnoho transportu, 154, 98–103. http://nbuv.gov.ua/UJRN/Znpudazt_2015_154_19
Eurostat. (2024). Key Figures on European Transport. 2024 Edition. https://ec.europa.eu/eurostat/documents/15216629/20875401/KS-01-24-021-EN-N.pdf
Goutille, Ya., & Truflandier, J. (2022). Current trends and developments in global rail, infrastructure and rolling stock. Nexans.
Kitishian, D. Union Pacific’s AI Strategy: Analysis of Dominance in Railroad. https://www.klover.ai/union-pacific-ai-strategy-analysis-of-dominance-in-railroad/
Market capitalization of Alstom (ALO.PA). https://companiesmarketcap.com/alstom/marketcap/
Mnykh, O. B., & Sapotnitska, N. Ya. (2018). Vyrishennia konfliktu riznykh system tsinnostei u suspilstvi yak neobkhidnist vprovadzhennia kontseptsii staloho rozvytku v Ukraini [Resolution of the conflict of different value systems in society as a necessity for the implementation of the concept of sustainable development in Ukraine]. U Ye. V. Khlobystov (Red.), Stalyi rozvytok – KhKhI stolittia: upravlinnia, tekhnolohii, modeli. Dyskusii 2018 (s. 668). Kyiv [Kyiv].
Mnykh, O., Dikan, O., Yukhnov, B., et al. (2020). The role of personnel motivation in the risk management system of energy companies with employee stock ownership. 8th International Scientific Conference on Sustainability in Energy and Environmental Science (21–22 October 2020), 628. https://doi.org/10.1088/1755-1315/628/1/012038
Sarp, S., Kuzlu, M., Jovanovic, V., et al. (2024). Digitalization of railway transportation through AI-powered services: digital twin trains. European Transport Research Review, 16(58). https://doi.org/10.1186/s12544-024-00679-5
Thompson, S. Inclusive Marketing: The Ultimate Guide. https://inclusionandmarketing.com/inclusive-marketing/
Tokmakova, I. V., Cherednychenko, O. Yu., Voitov, I. M., & Palamarchuk, Ya. S. (2019). Tsyfrova transformatsiia zaliznychnoho transportu yak faktor yoho innovatsiinoho rozvytku [Digital transformation of railway transport as a factor of its innovative development]. Visnyk ekonomiky transportu i promyslovosti, (68), 125–134. https://doi.org/10.18664/338.47:338.45.v0i68.189068
Tsapko-Piddubna, O. I. (2018). Pryntsyp inkliuzyvnosti u suchasnykh kontseptsiiakh ekonomichnoho zrostannia [The principle of inclusiveness in modern concepts of economic growth]. Problemy ekonomiky, (3), 29–36. https://www.problecon.com/export_pdf/problems-of-economy-2018-3_0-pages-29_36.pdf
Utsunomiya, K., Sanko, N., & Keumi, Ch. (2023). Expectations and satisfaction towards railway companies by residents in Japan. Research in Transportation Economics, 100, 101303. https://doi.org/10.1016/j.retrec.2023.101303
WPI. (2020, December 10). Get on Board – The Economics of Making the Rail Network Fully Accessible. https://wpieconomics.com/wp-content/uploads/2020/12/Get-on-Board-The-economics-of-making-the-rail-network-fully-accessible-FINAL.pdf
Zvarych, I., & Brodovska, O. (2023). Determinanty formuvannia inkliuzyvnoi ekonomiky krain Blyzkoho Skhodu ta yii sotsialno-ekonomichni naslidky [Determinants of the formation of an inclusive economy of the Middle East countries and its socio-economic consequences]. Ekonomichnyi analiz, 33(2), 291–300. https://doi.org/10.35774/econa2023.02.291

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