Beatriz Preciado Testo Yonqui PDF Copy
-
Upload
tanya-thompson -
Category
Documents
-
view
71 -
download
17
Transcript of Beatriz Preciado Testo Yonqui PDF Copy
-
,
-
,I
U
IBbIP
B ,
" 9LI
B
I B B B B B B
,, .L
)B 'aL
/
, B B B$ - B 5 B 2
B B B
B" I , FI $ -X I * C
Q D BB B B
B , B C ,
3O,D
-
-$ 5
-a - )
B B B a BIIA , B -, B BB $B I BU LOBII'BQXUu
, B
? 4
C , B
, B f -
)
B -
,
X9
,
,WW
DJ
?
,
C
W $
B a
OL
B BB I
-
(63$6$H )2580
%HDWUL]3UHFLDGR (VSDVD&DOSH6 $
LVHxRGHFXELHUWDPDVuJUDILFD,PDJHQHVGHLQWHULRUGLDJUDPDV%HDWUL]3UHFLDGRLPDJHQGHSDJ
FRUWHVtDGH$QQLH6SULQOGH3RUWSRP0RGHPtVW
HSyVLWROHJDO0 ,6%1
5HVHUYDGRVWRGRVORVGHUHFKRV1RVHSHUPLWHUHSURGXFLUDOPDFHQDUHQVLVWHPDVGHUHFXSHUDFLyQGHODLQIRUPDFLyQQLWUDQVPLWLUDOJXQDSDUWHGHHVWDSXEOLFDFLyQFXDOTXLHUDTXHVHDHOPHGLRHPSOHDGRHOHFWUyQLFRPHFiQLFRIRWRFRSLDJUDEDFLyQHWFVLQHOSHUPLVRSUHYLRGHORVWLWXODUHVGHORVGHUHFKRVGHODSURSLHGDGLQWHOHFWXDO
(VSDVDHQVXGHVHRGHPHMRUDUVXVSXEOLFDFLRQHVDJUDGHFHUiFXDOTXLHUVXJHUHQFLDTXHORVOHFWRUHVKDJDQDOGHSDUWDPHQWRHGLWRULDOSRUFRUUHRHOHFWUyQLFRVXJHUHQFLDV#HVSDVDHV
,PSUHVRHQ(VSDxD3ULQWHGLQ6SDLQ,PSUHVLyQ+XHUWDV6 $
(GLWRULDO(VSDVD&DOSH6$9tDGHODVRV&DVWLOODV&RPSOHMRWLFD (GLILFLR 3R]XHORGH$ODUFyQ0DGULG
(63$6$H )2580
%HDWUL]3UHFLDGR (VSDVD&DOSH6 $
LVHxRGHFXELHUWDPiVuJUiILFD,PiJHQHVGHLQWHULRUGLDJUDPDV%HDWUL]3UHFLDGRLPDJHQGHSDJ
FRUWHVtDGH$QQLH6SULQNOH3RVWSRP0RGHPtVW
HSyVLWROHJDO0 ,6%1
5HVHUYDGRVWRGRVORVGHUHFKRV1RVHSHUPLWHUHSURGXFLUDOPDFHQDUHQVLVWHPDVGHUHFXSHUDFLyQGHODLQIRUPDFLyQQLWUDQVPLWLUDOJXQDSDUWHGHHVWDSXEOLFDFLyQFXDOTXLHUDTXHVHDHOPHGLRHPSOHDGRHOHFWUyQLFRPHFiQLFRIRWRFRSLDJUDEDFLyQHWFVLQHOSHUPLVRSUHYLRGHORVWLWXODUHVGHORVGHUHFKRVGHODSURSLHGDGLQWHOHFWXDO
(VSDVDHQVXGHVHRGHPHMRUDUVXVSXEOLFDFLRQHVDJUDGHFHUiFXDOTXLHUVXJHUHQFLDTXHORVOHFWRUHVKDJDQDOGHSDUWDPHQWRHGLWRULDOSRUFRUUHRHOHFWUyQLFRVXJHUHQFLDV#HVSDVDHV
,PSUHVRHQ(VSDxD3ULQWHGLQ6SDLQ,PSUHVLyQ+XHUWDV6 $
(GLWRULDO(VSDVD&DOSH6$9tDGHODVRV&DVWLOODV&RPSOHMRWLFD (GLILFLR 3R]XHORGH$ODUFyQ0DGULG
-
$ QXHVWURVPXHUWRV$(,. 6
$ :]OO]DP
$ O]UJ]Q]H3HSD\ 6ZDUP
$ QXHVWURVPXHUWRV$(,. 6
$ :]OO]DP
$ O]UJ]Q]H3HSD\ 6ZDUP
-
1,&(
78 08(57( 9LGHRSHQHWUDFLyQ
/$ (5$ 3$50$&232512*5),&$B
&RRSHUDFLyQPDVWXUEDWRULD 3RWHQWtDJDXGHQG] ([FLWDU\ FRQWURODU
7(V72*(/ &KX7H &LWDFRQ7
+,6725,$( /$ 7(&126(;8$/,$
(/ &8(532( 9 (175$$ )250$5 3$57((/ &217([72(;3(5,0(17$/
3ULPHUFRQWUDWRVH[XDOB $OIDKHPEUDV $GLFFLyQ
7(&12*(1(52 B (OFUHS~VFXORGHODKHWHURVH[XDOLGDGFRPRQDWXUD
OH]D
(9(1,5 7 (VWDGRVRIiFXHUSRPROpFXOD HYHQLUPROHFXODUGHODSROtWLFD (OGLDEORHQJHO
1,&(
78 08(57( 9LGHRSHQHWUDFLyQ
/$ (5$ )$50$&232512*5$),&$ &RRSHUDFLyQPDVWXUEDWRULD 3RWHQW]N]JDXGHQG] ([FLWDU\ FRQWURODU
7(V72*(/ &KX7H &LWDFRQ7
+,6725,$( /$ 7(&126(;8$/,$
(/ &8(532( (175$$ )250$5 3$57((/ &21
7(;72 (;3(5,0(17$/ 3ULPHUFRQWUDWRVH[XDO $OIDKHPEUDV $GLFFLyQ
7(&12*(1(52 B (OFUHS~VFXORGHODKHWHURVH[XDOLGDGFRPRQDWXUD
OH]D
(9(1,5 7 (VWDGRVRIiFXHUSRPROpFXOD HYHQLUPROHFXODUGHODSROtWLFD (OGLDEORHQJHO
-
1,&(
)$50$&232(5 %UXMHULDQDUFRWLFRVH[XDO )LFFLRQHVVRPiWLFDV/D LQYHQFLyQGHODVKRUPRQDV
VH[XDOHV 3RSFRQWURO0RGRVGHODVXEMHWLYDFLyQIDUPDFRSRU
QRJUiILFD (OSDQySWLFRFRPHVWLEOH &RQWUROPLFURSURVWpWLFR /DKRUPRQDHQHPLJDWHVWRVWHURQD\ WHUURULVPRGHJpQHUR (OIXWXURVXSHUKRPEUH7 /DSLOGRUD\ HOIHPLQLVPRGH(VWDGR 7HVWRWUiILFR /DFDMDQHJUDKRUPRQDO
7(6720212 7XHVSHUPD\ PLVyYXORV OWLPDVEURQFDV 3pUGLGDV )UXVWUDFLyQDGLFWLYDB 7HVWRPRQRB 7UDQV2 \RQTXL"B 5DLQFHRsB %DE\FDUFDVVB 6DUDK
3251232(5 (OLPSHUDWLYRSRUQRJUiILFRIyOODWHDWLPLVPR 3RUQLILFDFLyQGHOWUDEDMR 6H[FRS\U]JDWWHFQRVLJQLILFDQWHVO~EULFRV 3DULV+LOWRQHQODFDPDFRQ0D[:HEHU 6H[yGURPRVXUEDQRV (OWUDEDMDGRUIDUPDFRSRUQRJUiILFR 7UDEDMRLEHUPDWHULD LYLVLyQSRUQRJUiILFDGHOWUDEDMR :QDWDUHVXSIDVWH[WtJXtVHVVRRQ 1XHYDGLIHUHQFLDVH[XDORULILFLRVSHQHWUDEOHV\ WHU
PLQDFLRQHVSHQHWUDGRUDV *HQHUD6H[ HYHQLUF\ERUJGHOWUDEDMDGRUVH[XDO
1,&(
)$50$&232(5B %UXMHULDQDUFRWLFRVH[XDO )LFFLRQHVVRPiWLFDV/D LQYHQFLyQGHODVKRUPRQDV
VH[XDOHV 3RSFRQWURO0RGRVGHODVXEMHWLYDFLyQIDUPDFRSRU
QRJUiILFD (OSDQySWLFRFRPHVWLEOH &RQWUROPLFURSURVWpWLFR /DKRUPRQDHQHPLJDWHVWRVWHURQD\ WHUURULVPRGHJpQHUR (OIXWXURVXSHUKRPEUH7 /DSLOGRUD\ HOIHPLQLVPRGH(VWDGR 7HVWRWUiILFR /DFDMDQHJUDKRUPRQDO
7(6720212B 7XHVSHUPD\ PLVyYXORV OWLPDVEURQFDV 3pUGLGDV )UXVWUDFLyQDGLFWLYDB 7HVWRPRQR 7UDQVR\RQTXL"B 5DLQFKHFNB %DE\FDUFDVVB 6DUDK
3251232(5 (OLPSHUDWLYRSRUQRJUiILFRIyOODWHDWLPLVPR 3RUQLILFDFLyQGHOWUDEDMR 6H[FRS\UtJ-UWHFQRVLJQLILFDQWHVO~EULFRV 3DULV+LOWRQHQODFDPDFRQ0D[:HEHU 6H[yGURPRVXUEDQRV (OWUDEDMDGRUIDUPDFRSRUQRJUiILFR 7UDEDMRLLEHUPDWHULD LYLVLyQSRUQRJUiILFDGHOWUDEDMR 89QDWDUHVXSIDVWH[W]MJXtVYHVVRRQ 1XHYDGLIHUHQFLDVH[XDORULILFLRVSHQHWUDEOHV\ WHU
PLQDFLRQHVSHQHWUDGRUDV *HQHUD6H[ HYHQLU&\ERUJGHOWUDEDMDGRUVH[XDO
-
,1,&(
-,0,<
-
,
@HYLVGDQVXQQ]RQFLHR]"SOHLQGHFRVHVTXHMHSHQVDLVLQ]SRVVLLOHVVRQWSRVVLLOHV
*8,//$80( 867$1
9RVTXRGQ]LLLDIQXLWDEDVLRUXUQ/HJLWLVPDOHPHPDUHPSXWDULV"
3HDILFDORHJRYRVHWLUUXPDOR
&$78/2
'9LYRHQXQPXQGRGRQGHPXFKDVFRVDVTXHSHQVDEDLPSRVLEOHVVRQSRVLEOHV*XLOODXPHXVWDQDQVPDFEDUQEUH32/3DULV
'< YRVRWURVSRUTXHKDEpLVOHtGRPLOLEUR0LOHVGHEHVRVPHDFXViLVGHQRVHUXQYHUGDGHURKRPEUH"
-
(VWHOLEURQRHVXQDDXWRILFFLyQ6HWUDWDGHXQSURWRFRORGHLQWR[LFDFLyQYROXQWDULDD EDVHGHWHVWRVWHURQDVLQWpWLFDTXHFRQFLHUQHHOFXHUSR\ ORVDIHFWRVGH%3 (VXQHQVD\RFRUSRUDO8QDILFFLyQHVFLHUWR(QWRGRFDVR\ VLIXHUDQHFHVDULROOHYDUODVFRVDVDOH[WUHPRXQDILFFLyQDXWRSROtWLFDRXQDDXWRWHRUtDXUDQWHHOWLHPSRTXHGXUDHVWHHQVD\RVXFHGHQGRVPXWDFLRQHVH[WHUQDVHQHOFRQWH[WRSUy[LPRGHOFXHUSRH[SHULPHQWDOFX\RLPSDFWRQRKDEtDVLGRFDOFXODGRQLKXELHUDSRGLGRFRPSXWDUVHFRPRSDUWHGHHVWHHVWXGLRSHURTXHFRQVWLWX\HQORVGRVOLPLWHVHQWRUQRDORVFXDOHVVHDGKLHUHODHVFULWXUDSULPHURODPXHUWHGH* FRQGHQVDGRKXPDQRGHXQDpSRFDTXHVHGHVYDQHFHtGROR\ ~OWLPRUHSUHVHQWDQWHIUDQFpVGHXQDIRUPDGHLQVXUUHFFLyQVH[XDODWUDYpVGHODHVFULWXUD\ FDVLVLPXOWiQHDPHQWHHOWURSLVPRGHOFXHUSRGH%3 KDFLDHOFXHUSRGH9 RFDVLyQLUUHQXQFLDEOHGHSHUIHFFLyQ\ GHUXLQD6HUHJLVWUDQDTXtWDQWRODVPLFURPXWDFLRQHVILVLROyJLFDV\ SROtWLFDVSURYRFDGDVSRUODWHVWRVWHURQDHQHOFXHUSRGH%3FRPRODVPRGLILFDFLRQHVWHyULFDV\ ItVLFDVVXVFLWDGDVHQHVHFXHUSRSRUODSpUGLGDHOGHVHRODH[DOWDFLyQHOIUDFDVRR ODUHQXQFLD1RPHLQWHUHVDQDTXtPLVVHQWLPLHQWRVHQWDQWRTXHPtRVSHUWHQHFLpQGRPHD PL\ D QDGLHPiV TXHD Pt1RPHLQWHUHVDORTXHGHLQGLYLGXDOKD\HQHOORV6LQRFyPRVRQDWUDYHVDGRVSRUORTXHQRHVPtR3RUDTXHOORTXHHPDQDGHODKLVWRULDGHOSODQHWDGHODHYROXFLyQGHODVHVSHFLHVYLYDVGHORVIOXMRVHFRQyPLFRVGHORVUHVLGXRVGHODVLQQRYDFLRQHVWHFQROyJLFDVGHODSUHSDUDFLyQGHODVJXHUUDVGHOWUiILFRGHHVFODYRV\ GHPHUFDQFtDVGHODVLQVWLWXFLRQHVSHQLWHQFLDULDV\ GHUHSUHVLyQGHODVUHGHVGHFRPXQLFDFLyQ\ YLJLODQFLDGHODSURGXFFLyQGHMH
(VWHOLEURQRHVXQDDXWRILFFLyQ6HWUDWDGHXQSURWRFRORGHLQWR[LFDFLyQYROXQWDULDD EDVHGHWHVWRVWHURQDVLQWpWLFDTXHFRQFLHUQHHOFXHUSR\ ORVDIHFWRVGH%3 (VXQHQVD\RFRUSRUDO8QDILFFLyQHVFLHUWR(QWRGRFDVR\ VLIXHUDQHFHVDULROOHYDUODVFRVDVDOH[WUHPRXQDILFFLyQDXWRSROLWLFDRXQDDXWRWHRULDXUDQWHHOWLHPSRTXHGXUDHVWHHQVD\RVXFHGHQGRVPXWDFLRQHVH[WHUQDVHQHOFRQWH[WRSUy[LPRGHOFXHUSRH[SHULPHQWDOFX\RLPSDFWRQRKDEtDVLGRFDOFXODGRQLKXELHUDSRGLGRFRPSXWDUVHFRPRSDUWHGHHVWHHVWXGLRSHURTXHFRQVWLWX\HQORVGRVOtPLWHVHQWRUQRDORVFXDOHVVHDGKLHUHODHVFULWXUDSULPHURODPXHUWHGH* FRQGHQVDGRKXPDQRGHXQDpSRFDTXHVHGHVYDQHFHLGROR\ ~OWLPRUHSUHVHQWDQWHIUDQFpVGHXQDIRUPDGHLQVXUUHFFLyQVH[XDODWUDYpVGHODHVFULWXUD\ FDVLVLPXOWiQHDPHQWHHOWURSLVPRGHOFXHUSRGH%3 KDFLDHOFXHUSRGH9 RFDVLyQLUUHQXQFLDEOHGHSHUIHFFLyQ\ GHUXLQD6HUHJLVWUDQDTXLWDQWRODVPLFURPXWDFLRQHVILVLROyJLFDV\ SROLWLFDVSURYRFDGDVSRUODWHVWRVWHURQDHQHOFXHUSRGH%3FRPRODVPRGLILFDFLRQHVWHyULFDV\ ILVLFDVVXVFLWDGDVHQHVHFXHUSRSRUODSpUGLGDHOGHVHRODH[DOWDFLyQHOIUDFDVRR ODUHQXQFLD1RPHLQWHUHVDQDTXLPLVVHQWLPLHQWRVHQWDQWRTXHPtRVSHUWHQHFLpQGRPHD PL\ D QDGLHPiV TXHD PL1RPHLQWHUHVDORTXHGHLQGLYLGXDOKD\HQHOORV6LQRFyPRVRQDWUDYHVDGRVSRUORTXHQRHVPLR3RUDTXHOORTXHHPDQDGHODKLVWRULDGHOSODQHWDGHODHYROXFLyQGHODVHVSHFLHVYLYDVGHORVIOXMRVHFRQyPLFRVGHORVUHVLGXRVGHODVLQQRYDFLRQHVWHFQROyJLFDVGHODSUHSDUDFLyQGHODVJXHUUDVGHOWUiILFRGHHVFODYRV\ GHPHUFDQFLDVGHODVLQVWLWXFLRQHVSHQLWHQFLDULDV\ GHUHSUHVLyQGHODVUHGHVGHFRPXQLFDFLyQ\ YLJLODQFLDGHODSURGXFFLyQGHMH
-
7(672
-
48(67,216LYRXVSRXYLH]YRLUXQDORFXPHQUDLUHVXUXQS-LLRVRSRHVXU+HLGHJJHU.DQWRX+HJHOTXHVWFHTXHYRXVDOpVLUHULH]YRLUFLHGDQV"
5e3216(( ,$&48(6(55,$ 4XLOVSDULHQWFLH>HXUYLHVH[XHLLHHXUYLHVH[XHOLH
-
78 08(57(
(O GHRFWXEUH7LPPHDQXQFLDWXPXHUWHOORUDQGR7LPWHTXLHUHDXQTXHW~QLVLTXLHUDOHWUDWDEDVFRQJHQHURVLGDGHQWXV~OWLPRVOLEURV&HVW:LLLLDUQPHGLFH/ORUD\ UHSLWH&HVWO9LLLLDUQFHVW:LLOLDUQ/R KDQHQFRQWUDGRPXHUWRHQVXQXHYRDSDUWDPHQWRGH3DUtV1RVHVDEH+DVLGRKDFHGRVGLDVHO1RVHVDEH
1DGLHVHKDHQWHUDGRGHWXPXHUWHKDVWDDKRUD7HKDVSRGULGRGXUDQWHGRVGtDVHQODPLVPDSRVLFLyQHQODTXHFDtVWHPXHUWR(VPHMRUDVL1DGLHKDYHQLGRDPROHVWDUWH7HKDQGHMDGRD VRODVFRQWXFXHUSRHOWLHPSRVXILFLHQWHSDUDDEDQGRQDUWRGDHVWDPLVHULDHQFDOPD/ORURFRQ7LP1RSXHGHVHU&XHOJR\ ORSULPHURTXHKDJRHVOODPDUD9 1RVpSRUTXp1RVKHPRVYLVWRGRVYHFHV8QDD VRODV(UHVW~HOTXHPHHPSXMDVDPDUFDUVXQ~PHUR7~HVFXFKDVQXHVWUDFRQYHUVDFLyQ7XHVSLULWXVHHVWLUDKDVWDIRUPDUXQYDKRHOHFWURPDJQpWLFRSRUHOTXHFRUUHQQXHVWUDVSDODEUDV7XIDQWDVPDHVXQFDEOHTXHWUDQVPLWHQXHVWUDVYRFHV0LHQWUDVKDEODPRVGHWXPXHUWHVXYR]PHGHVSLHUWDODYLGDGHQWUR/HSLXVIRUWFHVWVDYR]EFMHFURLV GHFLDVW~1RPHDWUHYRDOORUDUPLHQWUDVKDEORFRQHOOD&XHOJR\ OORURHQWRQFHVD VRODVSRUTXHQRKDVTXHULGRVHJXLUYLYLHQGR\ SRUTXHFRPRGHFtDWXSDGUDVWUR'XQSRHWDPXHUWRQRHVFULEHPi6
'/2 PiVIXHUWHHVVXYR]\RFUHR*XLOODXPHXVWDQ1LFRODV3DJHV(GLWLRQV%DOODQG3DUtV SiJ
'8QSRqWHPRUWQpFULWSOXV0LFKHO+RXHOOHEHFT5HVWHUYLYDQWHWDXWUHVWH[WHV/LEULR3DUtV SiJ
78 08(57(
(O GHRFWXEUH7LPPHDQXQFLDWXPXHUWHOORUDQGR7LPWHTXLHUHDXQTXHW~QLVLTXLHUDOHWUDWDEDVFRQJHQHURVLGDGHQWXV~OWLPRVOLEURV&HVW:LOOLDPPHGLFH/ORUD\ UHSLWH&HVWO9LLLLDUQFHVW99LLLLDQ/R KDQHQFRQWUDGRPXHUWRHQVXQXHYRDSDUWDPHQWRGH3DUtV1RVHVDEH+DVLGRKDFHGRVGLDVHO1RVHVDEH
1DGLHVHKDHQWHUDGRGHWXPXHUWHKDVWDDKRUD7HKDVSRGULGRGXUDQWHGRVGLDVHQODPLVPDSRVLFLyQHQODTXHFDLVWHPXHUWR(VPHMRUDVL1DGLHKDYHQLGRDPROHVWDUWH7HKDQGHMDGRD VRODVFRQWXFXHUSRHOWLHPSRVXILFLHQWHSDUDDEDQGRQDUWRGDHVWDPLVHULDHQFDOPD/ORURFRQ7LP1RSXHGHVHU&XHOJR\ ORSULPHURTXHKDJRHVOODPDUD 9 1RVpSRUTXp1RVKHPRVYLVWRGRVYHFHV8QDD VRODV(UHVW~HOTXHPHHPSXMDVDPDUFDUVXQ~PHUR7~HVFXFKDVQXHVWUDFRQYHUVDFLyQ7XHVSLULWXVHHVWLUDKDVWDIRUPDUXQYDKRHOHFWURPDJQpWLFRSRUHOTXHFRUUHQQXHVWUDVSDODEUDV7XIDQWDVPDHVXQFDEOHTXHWUDQVPLWHQXHVWUDVYRFHV0LHQWUDVKDEODPRVGHWXPXHUWHVXYR]PHGHVSLHUWDODYLGDGHQWUR/HSLXVIRUWFHVWVDYRL[MHFURLV GHFLDVW~1RPHDWUHYRDOORUDUPLHQWUDVKDEORFRQHOOD&XHOJR\ OORURHQWRQFHVD VRODVSRUTXHQRKDVTXHULGRVHJXLUYLYLHQGR\ SRUTXHFRPRGHFLDWXSDGUDVWUR'XQSRHWDPXHUWRQRHVFULEHPiV
'/R PiVIXHUWHHVVXYR]\RFUHR*XLOODXPHXVWDQ1LFRODV3DJHV(GLWLRQV%DODQG3DUtV SiJ
'8QSRqWHPRUWQpFULWSOXV0LFKHO+RXHOOHEHFT5HVWHUYLYDQWHWDXWUHVWH[WHV/LEULR3DULV SiJ
-
(VHPLVPRGtDXQDVKRUDVPiVWDUGHPHDSOLFRVREUHODSLHOXQDGRVLVGH PLOLJUDPRVGH7HVWRJHOSDUDHPSH]DUD HVFULELUHVWHOLEUR1R HVODSULPHUDYH](VDHVPLGRVLVUHJXODU/DVFDGHQDVGHFDUERQR2+&+&2+IOX\HQJUDGXDOPHQWHGHVGHPLHSLGHUPLVKDFLDODVFDSDVLQWHUQDVGHPLSLHOKDVWDORVYDVRVVDQJXtQHRVODVJOiQGXODVODVWHUPLQDFLRQHVQHUYLRVDV1RWRPRWHVWRVWHURQDSDUDFRQYHUWLUPHHQXQKRPEUHQLVLTXLHUDSDUDWUDQVH[XDOL]DUPLFXHUSRVLPSOHPHQWHSDUDWUDLFLRQDUORTXHODVRFLHGDGKDTXHULGRKDFHUGHPLSDUDHVFULELUSDUDIROODUSDUDVHQWLUXQDIRUPDSRVWSRUQRJUiILFDGHSODFHUSDUDDxDGLUXQDSUyWHVLVPROHFXODUDPLLGHQWLGDGWUDQVJpQHURORZWHFKHFKDGHGLOGRVWH[WRVHLPiJHQHVHQPRYLPLHQWRSDUDYHQJDUWXPXHUWH
9,(23(1(75$&,21
,ZRXOGUDWYHUJREOLQGWDDQVHHLQJ\RXJRDZD\
(77$-$0(6
KRUDV7XHVStULWXHQWUDSRUODYHQWDQD\ RVFXUHFHODKDELWDFLyQ(QFLHQGRWRGDVODVOXFHV0HWRXQDFLQWDYLUJHQHQODFiPDUDGHYtGHR\ ODFRORFRVREUHHOWUtSRGH,QVSHFFLRQRHOPDUFR/DLPDJHQHVOLVDHOFXDGURVLPpWULFRHOVRIiGHFXHURQHJURGLEXMDXQDOLQHDKRUL]RQWDOHQODSDUWHEDMDGHOFXDGUR(OPXUREODQFRDYDQ]DOLJHUDPHQWHVREUHHVDOLQHDSHURVLQFUHDUUHOLHYH3OD\0HGLULMRDOVRIi+HGHMDGRHQXQDPHVDEDMDIXHUDGHOFXDGURILOPDGRXQDPiTXLQDGHDIHLWDUHOpFWULFDXQHVSHMRSHTXHxRXQDKRMDGHSDSHOEODQFDXQDEROVDGHSOiVWLFRXQERWHGHFRODKLSRDOHUJpQLFDSDUDXVRIDFLDOXQDGRVLVGH PLOLJUDPRVGHWHVWRVWHURQDHQJHOXQERWHGHOXEULFDQWHXQJHOGLODWDGRUDQDOXQFLQWXUyQSROODFRQXQGLOGRUHDOLVWDGHFDXFKRSRU XQGLOGRUHDOLVWDQHJURGHFDXFKR SRU RWURGLOGRHUJRQyPLFRQHJURGHVLOLFRQD SRU XQDPDTXLQLOOD\ FUHPDGHDIHLWDUXQDSDODQJDQDGHSOiVWLFRFRQDJXDXQDWRDOODEODQFD\XQOLEURWX\RWXSULPHUOLEURHOVXEOLPHHOSULQFLSLR\ HOILQDOGHWRGR(QWURHQHOPDUFR0HGHVQXGRSHURQRFRPSOHWDPHQWH*XDUGRVRORXQDFDPLVHWDGHWLUDQWHVQHJUD&RPRSDUDXQD
'3UHIHULUtDTXHGDUPHFLHJRTXHYHUWHSDUWLU(WWD-DPHV
: I I II I II
(VHPLVPRGLDXQDVKRUDVPiVWDUGHPHDSOLFRVREUHODSLHOXQDGRVLVGH PLOLJUDPRVGH7HVWRJHOSDUDHPSH]DUD HVFULELUHVWHOLEUR1RHVODSULPHUDYH](VDHVPLGRVLVUHJXODU/DVFDGHQDVGHFDUERQR2+&+&2+IOX\HQJUDGXDOPHQWHGHVGHPLHSLGHUPLVKDFLDODVFDSDVLQWHUQDVGHPLSLHOKDVWDORVYDVRVVDQJXtQHRVODVJOiQGXODVODVWHUPLQDFLRQHVQHUYLRVDV1RWRPRWHVWRVWHURQDSDUDFRQYHUWLUPHHQXQKRPEUHQLVLTXLHUDSDUDWUDQVH[XDOL]DUPLFXHUSRVLPSOHPHQWHSDUDWUDLFLRQDUORTXHODVRFLHGDGKDTXHULGRKDFHUGHPLSDUDHVFULELUSDUDIROODUSDUDVHQWLUXQDIRUPDSRVWSRUQRJUiILFDGHSODFHUSDUDDxDGLUXQDSUyWHVLVPROHFXODUD PLLGHQWLGDGWUDQVJpQHURORZWHFODKHFKDGHGLOGRVWH[WRVHLPiJHQHVHQPRYLPLHQWRSDUDYHQJDUWXPXHUWH
9,(23(1(75$&,21
,ZRXOGUDWYHUJREOLQGWQDQVHHLQJ\RXJRDZD\
(77$-$0(6
KRUDV7XHVSLULWXHQWUDSRUODYHQWDQD\ RVFXUHFHODKDELWDFLyQ(QFLHQGRWRGDVODVOXFHV0HWRXQDFLQWDYLUJHQHQODFiPDUDGHYLGHR\ ODFRORFRVREUHHOWUtSRGH,QVSHFFLRQRHOPDUFR/DLPDJHQHVOLVDHOFXDGUR6LPpWULFRHOVRIiGHFXHURQHJURGLEXMDXQDOLQHDKRUL]RQWDOHQODSDUWHEDMDGHOFXDGUR(OPXUREODQFRDYDQ]DOLJHUDPHQWHVREUHHVDOLQHDSHURVLQFUHDUUHOLHYH3OD\0HGLULMRDOVRIi+HGHMDGRHQXQDPHVDEDMDIXHUDGHOFXDGURILOPDGRXQDPiTXLQDGHDIHLWDUHOpFWULFDXQHVSHMRSHTXHxRXQDKRMDGHSDSHOEODQFDXQDEROVDGHSOiVWLFRXQERWHGHFRODKLSRDOHUJpQLFDSDUDXVRIDFLDOXQDGRVLVGH PLOLJUDPRVGHWHVWRVWHURQDHQJHOXQERWHGHOXEULFDQWHXQJHOGLODWDGRUDQDOXQFLQWXUyQSROODFRQXQGLOGRUHDOLVWDGHFDXFKRSRU XQGLOGRUHDOLVWDQHJURGHFDXFKR SRU RWURGLOGRHUJRQyPLFRQHJURGH6LOLFRQD SRU XQDPDTXLQLOOD\ FUHPDGHDIHLWDUXQDSDODQJDQDGHSOiVWLFRFRQDJXDXQDWRDOODEODQFD\XQOLEURWX\RWXSULPHUOLEURHOVXEOLPHHOSULQFLSLR\ HOILQDOGHWRGR(QWURHQHOPDUFR0HGHVQXGRSHURQRFRPSOHWDPHQWH*XDUGR6RORXQDFDPLVHWDGHWLUDQWHVQHJUD&RPRSDUDXQD
'3UHIHULULDTXHGDUPHFLHJRTXHYHUWHSDUWLU(WWD-DPHV
: + I IL II
-
78 08(57(
RSHUDFLyQTXLU~UJLFDH[SRQJR~QLFDPHQWHORVyUJDQRVTXHVHYHUiQDIHFWDGRVSRUHOLQVWUXPHQWR7LURGHOSLHGHOHVSHMR\ ORFRORFRVREUHODPHVD(QFKXIRODPiTXLQDGHDIHLWDUHOpFWULFD2LJRVXUXLGRDJXGRFKLOOyQXQDYR]GHQLxRFLEHUQpWLFRTXHTXLHUHHVFDSDUGHOPRWRUHVFXSHDODFDUDGHOSDVDGR *UDG~RODVFXFKLOODVKDVWDTXHHVWiQD XQFHQWtPHWUR7XHVSLULWXPHGDXQVLJQRGLVFUHWRGHDSUREDFLyQ0HVLHQWRHQHOVRIiPLURFyPRODPLWDGGHPLFDUDHQWUDHQHOHVSHMRWHQJRHOSHORFRUWR\ RVFXURODVOHQWLOODVGLEXMDQXQDDXUHRODILQDDOUHGHGRUGHOLULVPLSLHOHVLUUHJXODUDYHFHVPX\EODQFDDYHFHVVDOSLFDGDGHEULOORVURVDGRV(OHVSHMRUHFRUWDXQWUR]RGHPLURVWURVLQH[SUHVLyQVLQFHQWUR+HVLGRDVLJQDGDPXMHUSHURHVHKHFKRQRVHDSUHFLDHQODLPDJHQSDUFLDOGHOHVSHMR&RPLHQ]RD DIHLWDUPHODFDEH]DGHGHODQWHKDFLDDWUiVGHVGHHOFHQWURKDFLDODL]TXLHUGD\ OXHJRKDFLDODGHUHFKD0HLQFOLQRVREUHODPHVDTXHUHFRJHHOSHORPLHQWUDVFDH$EURODEROVDGHSOiVWLFRMXQWRDODPHVD\ KDJRTXHHOSHORFRUWDGRVHGHVOLFHKDVWDFDHUGHQWUR$SDJRODPiTXLQD\YXHOYRD JUDGXDUODVFXFKLOODVDOFHUR&RORFRXQDKRMDGHSDSHOEODQFRVREUHODPHVD9XHOYRDHQFHQGHUODPiTXLQD\ ODSDVRGHQXHYRSRUWRGDODFDEH]D6REUHHOSDSHOEODQFRFDHXQDOOXYLDGHSHORVFRUWRVPX\ILQRV&XDQGRODFDEH]DHVWiOLVDGHVHQFKXIRODPiTXLQD3OLHJRODKRMDGHSDSHOHQGRVGHPRGRTXHORVSHORVVHSUHFLSLWDQKDFLDHOFHQWURIRUPDQGRXQDOLQHDXQLIRUPH)RUPDQXQDOLQHDGHFRFDLQDQHJUD0HKDJRXQDUD\DGHSHOR(V FDVLHOPLVPRELJ$EURHOERWHGHFROD\ GLEXMRFRQHOSLQFHOK~PHGRXQWUD]RVREUHPLODELRVXSHULRU&RMRXQDOLQHDGHSHORHQWUHORVGHGRV\ ODFRORFRVREUHHVHWUD]RKDVWDTXHTXHGDSHUIHFWDPHQWHSHJDGDDODSLHOGHPLFDUD%LJRWHGHPDULFD0HPLURHQHOHVSHMR0LPLVPRRMRFRQODPLVPDDXUHRODHQWRUQRDOLULVHVWiHQPDUFDGRDKRUDSRUXQELJRWH(OPLVPRURVWURODPLVPDSLHO,GpQWLFRHLUUHFRQRFLEOH0LURDODFiPDUDOHYDQWRHOODELRGHMDQGRPLVGLHQWHVDOGHVFXELHUWRFRPRKDFLDVW~(VHHVWXJHVWR
(OVREUHSODWHDGRTXHFRQWLHQHODGRVLVGHB PLOLJUDPRVGHWHVWRVWHURQDHQJHOHVGHODWDOODGHXQRGHHVRVVREUHFLWRVDODUJDGRVGHD]~FDUTXHWHGDQHQODVFDIHWHULDV5DVJRHOSDSHOBGHDOXPLQLRHPHUJHXQJHOILQRWUDQVSDUHQWH\ IULRTXHDOWRFDUODSLHOGHPLKRPEURL]TXLHUGRGHVDSDUHFHLQPHGLDWDPHQWH4XHGDXQYDSRUIUHVFRVREUHODSLHOFRPRHOUHFXHUGRGHXQDOLHQWRJODFLDOFRPRHOEHVRGHXQDGDPDGHKLHORVREUHHOKRPEUR
78 08(57(
RSHUDFLyQTXLU~UJLFDH[SRQJR~QLFDPHQWHORVyUJDQRVTXHVHYHUiQDIHFWDGRVSRUHOLQVWUXPHQWR7LURGHOSLHGHOHVSHMR\ ORFRORFRVREUHODPHVD(QFKXIRODPiTXLQDGHDIHLWDUHOpFWULFD2LJRVXUXLGRDJXGRFKLOOyQXQDYR]GHQLxRFLEHUQpWLFRTXHTXLHUHHVFDSDUGHOPRWRUHVFXSHD ODFDUDGHOSDVDGR *UDG~RODVFXFKLOODVKDVWDTXHHVWiQD XQFHQWtPHWUR7XHVSLULWXPHGDXQVLJQRGLVFUHWRGHDSUREDFLyQ0HVLHQWRHQHOVRIiPLURFyPRODPLWDGGHPLFDUDHQWUDHQHOHVSHMRWHQJRHOSHORFRUWR\ RVFXURODVOHQWLOODVGLEXMDQXQDDXUHRODILQDDOUHGHGRUGHOLULVPLSLHOHVLUUHJXODUDYHFHVPX\EODQFDDYHFHVVDOSLFDGDGHEULOORVURVDGRV(OHVSHMRUHFRUWDXQWUR]RGHPLURVWURVLQH[SUHVLyQVLQFHQWUR+HVLGRDVLJQDGDPXMHUSHURHVHKHFKRQRVHDSUHFLDHQODLPDJHQSDUFLDOGHOHVSHMR&RPLHQ]RD DIHLWDUPHODFDEH]DGHGHODQWHKDFLDDWUiVGHVGHHOFHQWURKDFLDODL]TXLHUGD\ OXHJRKDFLDODGHUHFKD0HLQFOLQRVREUHODPHVDTXHUHFRJHHOSHORPLHQWUDVFDH$EURODEROVDGHSOiVWLFRMXQWRDODPHVD\ KDJRTXHHOSHORFRUWDGRVHGHVOLFHKDVWDFDHUGHQWUR$SDJRODPiTXLQD\YXHOYRD JUDGXDUODVFXFKLOODVDOFHUR&RORFRXQDKRMDGHSDSHOEODQFRVREUHODPHVD9XHOYRDHQFHQGHUODPiTXLQD\ ODSDVRGHQXHYRSRUWRGDODFDEH]D6REUHHOSDSHOEODQFRFDHXQDOOXYLDGHSHORVFRUWRVPX\ILQRV&XDQGRODFDEH]DHVWiOLVDGHVHQFKXIRODPiTXLQD3OLHJRODKRMDGHSDSHOHQGRVGHPRGRTXHORVSHORVVHSUHFLSLWDQKDFLDHOFHQWURIRUPDQGRXQDOLQHDXQLIRUPH)RUPDQXQDOLQHDGHFRFDLQDQHJUD0HKDJRXQDUD\DGHSHOR(V FDVLHOPLVPRQJ$EURHOERWHGHFROD\ GLEXMRFRQHOSLQFHOK~PHGRXQWUD]RVREUHPLODELRVXSHULRU&RMRXQDOLQHDGHSHORHQWUHORVGHGRV\ ODFRORFRVREUHHVHWUD]RKDVWDTXHTXHGDSHUIHFWDPHQWHSHJDGDDODSLHOGHPLFDUD%LJRWHGHPDULFD0HPLURHQHOHVSHMR0LPLVPRRMRFRQODPLVPDDXUHRODHQWRUQRDOLULVHVWiHQPDUFDGRDKRUDSRUXQELJRWH(OPLVPRURVWURODPLVPDSLHO,GpQWLFRHLUUHFRQRFLEOH0LURDODFiPDUDOHYDQWRHOODELRGHMDQGRPLVGLHQWHVDOGHVFXELHUWRFRPRKDFLDVW~(VHHVWXJHVWR
(OVREUHSODWHDGRTXHFRQWLHQHODGRVLVGHB PLOLJUDPRVGHWHVWRVWHURQDHQJHOHVGHODWDOODGHXQRGHHVRVVREUHFLWRVDODUJDGRVGHD]~FDUTXHWHGDQHQODVFDIHWHULDV5DVJRHOSDSHOBGHDOXPLQLRHPHUJHXQJHOILQRWUDQVSDUHQWH\ IUtRTXHDOWRFDUODSLHOGHPLKRPEURL]TXLHUGRGHVDSDUHFHLQPHGLDWDPHQWH4XHGDXQYDSRUIUHVFRVREUHODSLHOFRPRHOUHFXHUGRGHXQDOLHQWRJODFLDOFRPRHOEHVRGHXQDGDPDGHKLHORVREUHHOKRPEUR
-
7(672
-
7(672