Léxico dialectal e estándar literario

June 26, 2017 | Autor: E. González Seoane | Categoría: Dialectology, Standardization, Linguistic Standardization
Share Embed


Descripción

DSpace da Universidade de Santiago de Compostela http://dspace.usc.es/

Instituto da Lingua Galega ______________________________________________________________________

E. González Seoane (2002): “Léxico dialectal e estándar literario”, en R. Álvarez / F. Dubert / X. Sousa (eds.): Dialectoloxía e léxico. Santiago de Compostela: Consello da Cultura Galega / Instituto da Lingua Galega, 95-113. __________________________________________________________________________                

  You are free to to copy, distribute and transmit the work under the following conditions:  

Attribution — You must attribute the work in the manner specified by the author or licensor (but not in any way that suggests that they endorse you or your use of the work). Non commercial — You may not use this work for commercial purposes.

 

 

http://ilg.usc.es/ 



/e;,&2',$/(&7$/((67É1'$5/,7(5$5,2 (UQHVWR*RQ]iOH]6HRDQH ,QVWLWXWRGD/LQJXD*DOHJD86&

(VWH WUDEDOOR SUHWHQGH PRVWUDODV UHSHUFXVLyQV GR XVR OLWHUDULR VREUH D GLIXVLyQHVREUHRHVWDWXWRGHSDODEUDVTXHHQSULQFLSLRWHxHQXQKDHVFDVD SUHVHQFLDQDOLQJXDRUDOHVSRQWiQHDHSRSXODUHGHPDQHLUDHVSHFLDOGDTXH ODVTXHDVHQTXLVDVGLDOHFWROy[LFDVQRVPRVWUDQFRPRFDUDFWHUtVWLFDVGHiUHDV GLDOHFWDLV PDU[LQDLV RX UHVWULQ[LGDV &RQ HVWH ILQ SDUWLPRV GXQKD SHTXHQD HVFROPD GH YRFHV TXH QRQ WUDWD GH VHU UHSUHVHQWDWLYD VHQyQ TXH VLPSOH PHQWH DVSLUD D IRUQHFHU H[HPSORV TXH LOXVWUHQ RV GLVWLQWRV WLSRV GH WUDQV IRUPDFLyQVH[SHULPHQWDGRVSRUHVWDVYRFHVGLDOHFWDLVHRXPLQRULWDULDV$ QRVD DWHQFLyQ FHQWUDUDVH HQ SULPHLUR WHUPR HQ FRQWUDVWDOD GLVWULEXFLyQ [HRJUiILFD TXH SUHVHQWDQ QD DFWXDOLGDGH FR XVR OLWHUDULR DFWXDO H SUHWpULWR 3DUDRSULPHLURWRPDUHPRVFRPRSXQWRGHUHIHUHQFLDRVGDWRVREWLGRVQDV HQTXLVDVGR$/*DSDUDRVHJXQGRHPSUHJDUpPRODEDVHGHGDWRVOH[LFRJUi ILFDGR,/*TXHQDDFWXDOLGDGHDEUDQJXHSUHWRGHPLOOyQVGHUH[LVWURV VXPDQGRRVFRUUHVSRQGHQWHVDWH[WRVOLWHUDULRVFXOWRVHSRSXODUHVDWH[WRV RUDLVHDWH[WRVQRQOLWHUDULRVGHQDWXUH]DGLYHUVD(VWHFRQWUDVWHSHUPLWLUD QRVDQDOL]DUWUHVDVSHFWRVTXHHQWHQGHPRVTXHWHxHQXQKDJUDQGHUHOHYDQFLD SDUDRVQRVRVLQWHUHVHV(QSULPHLUROXJDURTXHSRGHPRVGHQRPLQDU¶GHV GLDOHFWDOL]DFLyQ·pGLFLUDSHUGDGDV~DFRQGLFLyQGHYRFHVGLDOHFWDLVHDV~D FRQVHJXLQWH FRQYHUVLyQ HQ YRFiEXORV GH XVR FRP~Q 3DUD LVR XWLOL]DUHPRV FRPR LQGLFDGRU D IUHFXHQFLD GH XVR H GH PDQHLUD HVSHFLDO D SUHVHQFLD HQ DXWRUHV TXH SROD V~D SURFHGHQFLD [HRJUiILFD QRQ GHEtDQ WHU HVDV IRUPDV FRPRSURSLDV(QVHJXQGROXJDUDHYROXFLyQVHPiQWLFDH[SHULPHQWDGDFRQ HVSHFLDO DWHQFLyQ i DVXQFLyQ GH QRYDV DFHSFLyQV PiLV DEVWUDFWDV SRU FDXVD GRVHXXVRHQVHQWLGRILJXUDGRRXPHWDIyULFR)LQDOPHQWHRTXHFKDPDUH PRV¶OLWHUDWXUL]DFLyQ·RXGLWRGRXWUR[HLWRDV~DFRQYHUVLyQHQYRFHVHVWL OLVWLFDPHQWHPDUFDGDVFRPRSURSLDVGRUH[LVWUROLWHUDULR (QWRGRFDVRDQWHVGHFRPH]DUFRQHVWDDQiOLVHpQHFHVDULRIDFHUDOJXQ KDVFRQVLGHUDFLyQVVREUHFyPRIRLSHUFLELGDKLVWRULFDPHQWHHFyPRpSHU FLELGDQDDFWXDOLGDGHDGLYHUVLGDGHGLDOHFWDOHQUHODFLyQFRDFRQVWUXFFLyQGR HVWiQGDU 'H PDQHLUD [HUDO SRGHPRV GLFLU TXH [D GHVGH DV SULPHLUDV UH IOH[LyQV PHWDOLQJtVWLFDV TXH DSDUHFHQ QDOJ~QV WH[WRV GR VpFXOR ;,; HVWD GLYHUVLGDGH p RE[HFWR GH YDORUDFLyQV DSDUHQWHPHQWH FRQWUDGLFWRULDV 3RU XQKD EDQGD D YDULHGDGH p SHUFLELGD FRPR XQ WHVRXUR FRPR XQ tQGLFH GD ULTXH]DHGDYLWDOLGDGHGRJDOHJR3RURXWUDVHQHPEDUJRYHVHFRPRXQKD IRQWH GH FRQIXVLyQ H FRPR XQ REVWiFXOR TXH GLILFXOWD D FRQIRUPDFLyQ H



(UQHVWR*RQ]iOH]6HRDQH

FRQVROLGDFLyQGXQKDYDULHGDGHPRGpOLFDFRP~Q6LJQLILFDWLYDPHQWHHDtQGD TXHSRUUD]yQVGLYHUVDVHVWDpDFRQFOXVLyQDTXHVHFKHJDWDQWRGHVGHSUH VXSRVWRV ILORJDOHJXLVWDV FR ILQ GH VXEOLxDOD QHFHVLGDGH GD XQLILFDFLyQ  FRPRGHVGHDVSRVLFLyQVPiLVUHFDOFLWUDQWHPHQWHDQWLJDOHJXLVWDV QHVWHFDVR SDUD SRxHU GH UHOHYR D LQXWLOLGDGH GH FDOTXHUD WHQWDWLYD GH FRGLILFDFLyQ H HVWDQGDUGL]DFLyQ  $ WtWXOR GH H[HPSOR HQWUH RV VLPSDWL]DQWHV GD FDXVD GR JDOHJR SyGHQVH FLWDU FDVRV FRPD R GH &XYHLUR TXH VH UHILUH iV ´LQILQLWDV VXEGLYLVLRQHV GH ODV FXDWUR SURYLQFLDV JDOOHJDV HQ FRPDUFDV WDPELHQ HVSH FLDOHV\HQODVTXHWDPSRFRVHHQWLHQGHQHQWUHVtFLHUWRVYRFDEORVyIUDVHV HQWHUDVµ &XYHLUR9, RXRGH3DUGR%HFHUUD TXHDILUPDTXH´QXQ PHVPR$XQWDPHQWRVHIDODQSDODEUDVFRPSUHWDPHQWHGLIUHQWHVSUDH[SULFDU XQKDPHVPDFRXVDµ 3DUGR%HFHUUD 3RORTXHVHUHILUHyVDQWLJDOH JXLVWDV D H[SUHVLyQ PiLV FRQWXQGHQWH GR VHX SHQVDPHQWR RIUpFHQROD -RD TXtQGH$UpYDOR 8QRVGLFHQHVWDGXOORRWURVIXQJXHLURRWURVIXHLUR\WRGRHOORHVXQSDOR8QRV OODPDQ D OD PDULSRVDDEHODtxD RWURV OH GLFHQYROYRUHWD 8QRV GLFHQ]DPHOR RWURV PDPRWD RWURV ]RQFKR WRWDO OR PLVPR FDVWDxDV 8QRV SURQXQFLDQEDUUHOR RWURV EHUFHRWURVDUUXORTXHHVODFXQD $UpYDOR 

(VWDFRQVWDWDFLyQOpYDRDFRQFOXtUTXH´DSHQDVSRGUiQUHXQLUVHJDOOHJRV GHODVFXDWURSURYLQFLDVTXHVHHQWLHQGDQHQWUHVtµ   (VWD DYDOLDFLyQ QHJDWLYD GD GLYHUVLGDGH GLDOHFWDO I~QGDVH QD SHUFHSFLyQ GHVWHIHQyPHQRFRPRXQKDSUR[HFFLyQGDPDOGLFLyQGH%DEHOTXHFRQGXFH LQYDULDEOHPHQWHDDVRFLDUGLYHUVLGDGHFRQFRQIXVLyQGHVXQLyQHLQFRPXQL FDFLyQ 1HVWH VHQWLGR DV GLIHUHQFLDV GLDWySLFDV YLUtDQ D VHOD WUDGXFFLyQ HQ WHUPRVOLQJtVWLFRVGRPLQLIXQGLVPR(Q~OWLPDLQVWDQFLDHVWDYLVLyQQRQp PRLGLIHUHQWHGDSHUFHSFLyQ¶SRSXODU·GRIHQyPHQREDVWDQWHLQVWDODGDDtQGD KR[HQXQERQ~PHURGHIDODQWHVHVSRQWiQHRVTXHVHFDUDFWHUL]DSRUXQKD EDQGDSRUXQKDDFXVDGDWHQGHQFLDDPDJQLILFDODVGLIHUHQFLDVHSRURXWUD SRU FRQVLGHUDODV FRPR XQ WUD]R VLQJXODU GR JDOHJR &DQWR iV DSUHFLDFLyQV VREUH D PDJQLWXGH GR IHQyPHQR D HVD[HUDFLyQ UHVXOWD HYLGHQWH i OX] GD SURSLD FRQVFLHQFLD OLQJtVWLFD GRV IDODQWHV TXH PDOLD DV GLIHUHQFLDV TXH RV VHSDUDQGRVVHXVYHFLxRVQRQSRULVRGHL[DQGHUHFRxHFHUVHFRPRIDODQWHV GXQKD PHVPD OLQJXD 'H SRU SDUWH D FRQVLGHUDFLyQ GD GLYHUVLGDGH FRPR XQKD SHFXOLDULGDGH GR JDOHJR GHULYD FRPR LQGLFD ÉOYDUH] %ODQFR GR SUH[Xt]R GH TXH ´XQKD OLQJXD EHQ FRQIRUPDGD GHEH HVWDU SRXFR VX[HLWD i YDULDFLyQ WDO FRPR HOHV >RV IDODQWHV HVSRQWiQHRV@ SHUFLEHQ QXQKD ROODGD VXSHUILFLDO H SRXFR H[SHUWD R PRGHOR GH HVSDxRO TXH VH OOHV SUHVHQWD QD HVFROD QRV OLEURV H QRV PHGLRV GH FRPXQLFDFLyQµ ÉOYDUH]    $tQGDDVtQDPLxDRSLQLyQSRUPiLVTXHXQKDSDUWHLPSRUWDQWHGRFRQWDFWR FRQRXWURVLGLRPDVWHxDOXJDUDWUDYpVGHPHGLRVTXHHPSUHJDQDYDULHGDGH

/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR



HVWiQGDU UHVXOWD LQGLVFXWLEOH TXH QR FDVR GXQKD OLQJXD SUy[LPD FRPD R HVSDxRORVIDODQWHVJDOHJRVSRUSRXFRH[SHUWRVTXHVH[DQWHxHQHYLGHQFLDV GH DERQGR FRPR SDUD VHUHQ FRQVFLHQWHV GD V~D GLYHUVLGDGH LQWHUQD 3HVH D WRGR PHQWUHV TXH QR FDVR GR HVSDxRO SULPD D SHUFHSFLyQ GRV DVSHFWRV FRP~QVQRGRJDOHJRRDFHQWRUHFDHPiLVEHQVREUHRVHOHPHQWRVGLIHUHQ FLDLV (VWH FRQWUDVWH GHEH H[SOLFDUVH VHJXUDPHQWH FRPR XQKD FRQVHFXHQFLD GRGLIHUHQWHJUDRGHHVWDELOLGDGHGDYDULHGDGHHVWiQGDUHyPHVPRWHPSR GRGLIHUHQWHJUDRGHQRUPDOLGDGHGRXVRVRFLDOGDVG~DVOLQJXDV $Vt DV FRXVDV FyPSUH SUHJXQWiUPRQRV DJRUD VREUH FiOHV IRURQ DV YtDV TXHVHH[SORUDURQSDUDVXSHUDUHVWDVLWXDFLyQ1HVWHVHQWLGRGpEHVHVDOLHQWDU TXH [D GHVGH R 5H[XUGLPHQWR VH LPSX[R D FRQYLFFLyQ GH TXH D YDULHGDGH FRP~Q QRQ SRGtD VHU GH EDVH PRQRGLDOHFWDO &RPSUHQGtDR PRL EHQ 6DFR FDQGRGLFtDTXH´PRVWUDUiKDUWRFHQVXUDEOHH[FOXVLYLVPRDTXHOTXHHQWUHODV YDULDVIRUPDVGHTXHSDUDXQDPLVPDLGHDDEXQGDQXHVWURGLDOHFWRQRUHFR QR]FDFRPRFDVWL]DVVLQR~QLFDPHQWHDTXHOODVTXHHVWiDFRVWXPEUDGRiRLU HQ OD ORFDOLGDG GHVX QDFLPLHQWR y UHVLGHQFLDµ 6DFR  ;  &RPR p VD ELGR QXQ SULPHLUR PRPHQWR D LQWHJUDFLyQ GD SOXUDOLGDGH GLDOHFWDO SURGX FLXVHDWUDYpVGDDFXPXODFLyQHPHVWXUDGHDFKHJDVGHSURFHGHQFLDVGLYHUVDV (VWHpRSURFHGHPHQWRDTXHDQLPDED[DRSURSLR6DFRQDV~DJUDPiWLFD /HMRVGHWHQHUSRUYLWXSHUDEOHHVWDPH]FODGHODVIRUPDVVXEGLDOpFWLFDVQRV SDUHFHKDFLpQGRORFRQGLVFUHFLyQ\RSRUWXQLGDG~WLO\FRQGXFHQWHSDUDDXPHQ WDUODULTXH]D\YDULHGDGGHOJDOOHJROLWHUDULR 6DFR 

(VWD SUiFWLFD YHUtDVH IDYRUHFLGD OR[LFDPHQWH SROR GLiORJR LQWHUWH[WXDO PiLVIOXtGRFRQIRUPHVHLQFUHPHQWDDSURGXFFLyQHVFULWDHQJDOHJRHVHYDL SHUILODQGR[DXQJUXSRGHHVFULWRUHVyVTXHVHDWULE~HDFRQGLFLyQGHFOiVL FRV 'HVWD PDQHLUD QR FXOWLYR GR JDOHJR HVFULWR DSUpFLDVH XQKD HYROXFLyQ HVSRQWiQHDTXHSRGHUtDGHILQLUVHHPSUHJDQGRXQKDH[SUHVLyQIHOL]GH$Q WyQ 6DQWDPDULQD    FRPR ´VXSHUDFLyQ GR PXQLFLSDOLVPR OLQJtV WLFRµ(VWDWHQGHQFLDWUDG~FHVHQDSUiFWLFDQDGHVDSDULFLyQRXQDGLVROXFLyQ QRVWH[WRVGDTXHOHVHOHPHQWRVTXHGHODWDQDSDWULDGLDOHFWDOGRVVHXVDXWRUHV &RVSULPHLURVHVFULWRUHVGR5H[XUGLPHQWR HPHVPRFRVJUDPiWLFRV SRGH ULDPRVIDFHUXQKDHVSHFLHGH[HRJUDItDGLDOHFWDOVHPHOODQWHiTXHIDQRVILOyORJRV FRVSULPHLURVWH[WRVGD,GDGH0HGLD>@eFODURTXHDOLQJXDGH5RVDOtDGH&DV WURpIXQGDPHQWDOPHQWHDGRVXHVWHGH6DQWLDJR>@(Q5RVDOtDRTXHQRQpJD OHJRGLDOHFWDOpFDVWHODQLVPRHQPHQRUPHGLGDOXVLVPRHHVFDVDPHQWHKLSHUJDOH JXLVPR&XUURVH3RQGDO[DQRQVRQIXQGDGRUHV&RQWDQFXQKDWUDGLFLyQDtQGD TXH VH[D EUHYH ( LVWR WUDQVSDUHFH FODUDPHQWH QRV VHXV HVFULWRV (Q &XUURV i SDUWHGXQVXVWUDWRJDOHJRRXUHQViQ>@[DVHQRWDXQHQULTXHFHPHQWRGRSURSLR JDOHJRFRGRXWURVDXWRUHV2PHVPRSRGHPRVGLFLUGH3RQGDO3RXFDSHUVSLFD FLyQOLQJtVWLFDIDLIDOWDSDUDDGYHUWLUQHVWHXQJUDQGHHVIRU]RSRUIX[LUGR[LUR



(UQHVWR*RQ]iOH]6HRDQH ORFDOLVWDH[OXVLYR>@&DQGRFKHJDPRVyVHVFULWRUHVGD;HUDFLyQ1yVQRQTXH GDQVHQyQVRWDTXHVORFDOLVWDV 6DQWDPDULQD 

$ LQH[LVWHQFLD GD PiLV PtQLPD FREHUWXUD LQVWLWXFLRQDO TXH SHUPLWLVH DERUGDODFRGLILFDFLyQREULJDEDDFRQILDUHVWDWDUHIDySURSLRFXOWLYR'HVWH [HLWRiEUHVHFDPLxRDLGHDGHTXHDQWHVGHDERUGDODFRQVWUXFFLyQGDYDULH GDGHFRP~QpSUHFLVRUHDOL]DUXQWUDEDOORGHFDUUH[RHDFXPXODFLyQGHPDWH ULDLV(QWpQGHVHSRLVTXHVHUiRXVRGRVHVFULWRUHVRTXHYDLDGDQGRSULRUL GDGHDXQKDVVROXFLyQVHQGHWULPHQWRGRXWUDVGHWDO[HLWRTXHVHYDLDSHUIL ODQGRHVDYDULHGDGH6yQXQKDIDVHDYDQ]DGDGHVWHSURFHVRVHUiFKHJDGRR PRPHQWR GD XQLILFDFLyQ HIHFWLYD (VWD LGHD DSDUHFH H[SUHVDGD GH PDQHLUD PRL QLGLD QD LQWURGXFFLyQ GH 5DPyQ 3LxHLUR H &HOHVWLQR )HUQiQGH] GH OD 9HJDy&DQFLRHLURGDSRHVtDFpOWLJDGH-XOLXV3RNRUQ\ (QWHQGHPRVTXHDQRVDHYROXFLyQOLQJtVWLFDQRQSDVRXGLVWDHWDSDGHHV FROPDDXQKDHWDSDQHFHVDULDPHQWHSRVWHULRUGHXQLILFDFLyQ+R[HHQGtDQRQVH SRGHUtDWUD]DUXQOLQGHLURFUDURHVHJXURHQWUH´JDOHJROLWHUDULRµH´JDOHJRSRSX ODUµ LQGD TXH HVWDPRV HQ FDPLxR GH DFDGDU WDOGLIHUHQFLDFLyQ )HUQiQGH] GH OD 9HJDH3LxHLUR;9, 

$LGHDGH3LxHLURH)HUQiQGH]GHOD9HJDHVWiDPSODPHQWHUHSUHVHQWDGD QRV WH[WRV OLQJtVWLFRV GD pSRFD SUHQRUPDWLYD &RPR H[HPSOR GHVWD ´FRQ FHSFLyQGDOLQJXDFRPRXQVHUYLYRFRQDXWRQRPtDµTXHWHQDV~DRUL[HQD OLQJtVWLFD URPiQWLFD $ORQVR 3LQWRV    SRGH FLWDUVH R FDVR GR SULPHLUR &DUEDOOR &DOHUR TXH VH SURQXQFLD HQ SDUHFLGRV WHUPRV HQ YDULDV GDV V~DV REUDV $Vt DV QRUPDV GD 5$* GH  GDV TXH &DUEDOOR IRL R SULQFLSDOUHVSRQVDEOHUHItUHQVHiFXHVWLyQQRVVHJXLQWHVWHUPRV ;D VH FRPSUHQGH TXH DSDUWH GD RUWRJUDItD H GD PRUIROR[tD D FRGLILFDFLyQ GXQLGLRPDOLWHUDULRDEUDQ[HRXWURVDVSHFWRV0DLVGXQKDEDQGDQRQpQDWXUDO IRU]DU DFDGpPLFDPHQWH HVD XQLILFDFLyQ VHQ DJDUGDU D TXH D OLQJXD HQ OLEHUDO FRPSHWHQFLDGHIRUPDVPDGXUHSDUDHVHILQ 5$* 

2SURFHVRGHRILFLDOL]DFLyQHLQVWLWXFLRQDOL]DFLyQGRJDOHJRTXHWHQOXJDU GHVGHILQDLVGRVDQRVHVREUHWRGRDSDUWLUGRVSULPHLURVDQRVUHSUH VHQWD XQ LPSRUWDQWH VDOWR FXDOLWDWLYR QD PHGLGD HQ TXH SRU YH] SULPHLUD FRQ UHVSDOGR RILFLDO R JDOHJR p RE[HFWR GXQKD UHJXODPHQWDFLyQ IRUPDO H H[SOtFLWDVREUHWRGRQRUHODWLYRiV~DRUWRJUDItDHPRUIROR[tDSHURWDPpQ DtQGD TXH GXQKD PDQHLUD PiLV OD[D y VHX Op[LFR (VWD FRGLILFDFLyQ PiLV HVWULFWDYpQHVL[LGDSRODVQRYDVIXQFLyQV¶DOWDV·TXHRJDOHJRFRPH]DDDVX PLU HQVLQRPHGLRVGHFRPXQLFDFLyQGHPDVDV$GPLQLVWUDFLyQHWF HTXH YHxHQ D VXPDUVH yV XVRV [D WUDGLFLRQDLV FRPR YHKtFXOR SDUD D H[SUHVLyQ OLWHUDULDHLQWHOHFWXDO(VWHVQRYRVXVRVQRQOLWHUDULRVGHPDQGDQREYLDPHQWH XQOp[LFRPiLVSUHFLVRHXQtYRFRFyVWH[WRVOLWHUDULRV

/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR



(QFDOTXHUDFDVRFRQHVWDDPSOLDFLyQIXQFLRQDODFRGLILFDFLyQ WDPpQD FRGLILFDFLyQ Op[LFD  SDVD D RFXSDOR FHQWUR GR HVFHQDULR H FRQYpUWHVH QXQ RE[HFWLYRSULRULWDULRyTXHVHGHEHQVXERUGLQDURXWURVLQWHUHVHVHyTXHVH GHEHFRQWULEXtUGHVGHWyGRORViPELWRVHQWUHHOHVWDPpQGHVGHRGDFUHDFLyQ OLWHUDULD'HVWH[HLWRVREUHRVRPEUHLURVGRVHVFULWRUHVUHFDHQRQVyRSHVR GHFUHDUOLWHUDWXUDVHQyQWDPpQRGHVHUD[HQWHVGDHVWDQGDUGL]DFLyQRGH DFWXDUFRPRSURSDJDQGLVWDVHGLIXVRUHVGRHVWiQGDU 1HVWHFRQWH[WRDSUHVHQFLDQRVWH[WRVOLWHUDULRVGHWUD]RVOp[LFRVGLDOHF WDLV RX ORFDLV YDL PLQJXDQGR DWD IDFHUVH SUDFWLFDPHQWH LQDSUHFLDEOH IyUD GDOJ~QVFDVRVH[FHSFLRQDLVTXHQRQIDQPiLVTXHFRQILUPDODUHJUD7DPpQp SRVLEOH TXH HQ PRLWRV GHVWHV FDVRV SHQVR VREUH WRGR QRV HVFULWRUHV GH H[WUDFFLyQXUEDQD QRQKD[DYHVWL[LRVGDSURFHGHQFLDGLDOHFWDOGRDXWRUQRQ SRUTXH HVWD VH RFXOWH RX VH HQPDVFDUH VHQyQ VLPSOHPHQWH SRUTXH QRQ H[LVWH (QGHILQLWLYDVHPHOODTXHDULTXH]DDYDULHGDGHHDGLYHUVLGDGHVRQXQ SUH]RTXHKDLTXHSDJDUSROREHQHILFLRVXSHULRUGDFRGLILFDFLyQHHVWDQGDU GL]DFLyQ 6HQ HPEDUJR R HVWiQGDU QRQ WHQ SRU TXH DQXODOD YDULDFLyQ (Q UHDOLGDGHFRQIRUPHLQGLFD3DXO*DUYLQ  RHVWiQGDUDGHPDLVGHSUR SRUFLRQDU SUHVWL[LR i SURSLD OLQJXD H i FRPXQLGDGH TXH D IDOD DGHPDLV GH DJOXWLQDORFRQ[XQWRGHYDULHGDGHVTXHSUHWHQGHFXEULUHDGHPDLVGHPDUFDU FRQQLWLGH]DVHVWUHPDVFRVHVWiQGDUHVYHFLxRVDFW~DFRPRXQHOHPHQWRGH UHIHUHQFLDFRQUHVSHFWRyFDOVHRUGHQDQH[HUDUTXL]DQDVGHPDLVYDULHGDGHV 8QKD IRUPD GHItQHVH FRPR ¶YXOJDU ¶FRORTXLDO· ¶OLWHUDULD· ¶GLDOHFWDO· HWF Vy FRQUHODFLyQDRXWUDFRQVLGHUDGDFRPR¶QRUPDO·¶HVWiQGDU·RX¶QRQPDUFDGD· 3RURXWUDEDQGDFyPSUHWHUHQFRQWDTXHRILOyORJRHRHVFULWRURSHUDQ RX GHEHQ RSHUDU FRQ Oy[LFDV GLVWLQWDV 6H R ILOyORJR DERUGD R WUDEDOOR GH VHOHFFLyQGROp[LFRHVWiQGDUDWHQGHQGRDFULWHULRVFRPRDUHSUHVHQWDWLYLGDGH GDVHVFROODV pGLFLUDV~DGLIXVLyQ[HRJUiILFDHGHPRJUiILFD DWUDGLFLyQD KDUPRQL]DFLyQ FRDV GHPDLV OLQJXDV URPiQLFDV HWF y HVFULWRU HQ SULQFLSLR GHEHQ SUHRFXSDUOOH WDPpQ RV DVSHFWRV GH WLSR HVWLOtVWLFR TXH KDELWXDOPHQWH RFXSDQQRPHOORUGRVFDVRVXQOXJDUPDU[LQDOQDVUHIOH[LyQVGRILOyORJR 1HVWHVHQWLGRRSURIHVRU$QWyQ)LJXHURDWHQVHUHIHULGRyTXHGHQRPLQD XQKD´H[FHVLYDILOROR[L]DFLyQµGRWH[WROLWHUDULR )LJXHURD 1XQKD VLWXDFLyQGH¶QRUPDOLGDGH·FXQKDYDULHGDGHHVWiQGDUUD]RDEOHPHQWHHVWDELOL ]DGD H VRFLDOL]DGD p GLFLU FRxHFLGD H DVXPLGD FRPR WDO SROD [HQHUDOLGDGH GRVVHXVXVXDULRVSRWHQFLDLVRHPSUHJROLWHUDULRGHVROXFLyQVGLDOHFWDLV RX YXOJDUHV FRORTXLDLV DUFDLFDV HWF  p SHUFLELGR SRORV OHFWRUHV FRPR XQKD GHVYLDFLyQ FRQ UHVSHFWR y FRQVLGHUDGR ¶QRUPDO· 'HVWH [HLWR HPLVRU H UH FHSWRU HVFULWRU H OHFWRU IXQFLRQDQ QXQKD PHVPD ORQ[LWXGH GH RQGD GH WDO [HLWRTXHRHVFULWRUSRGHHPSUHJDORGLDOHFWDOQDFRQILDQ]DGHTXHRGHVWL QDWDULR GD REUD YDL LQWHUSUHWDOD PHQVD[H GH DFRUGR FRDV SUHWHQVLyQV FRQ



(UQHVWR*RQ]iOH]6HRDQH

TXHHVWDIRLFRGLILFDGD3RODFRQWUDQXQKDVLWXDFLyQFRPRDJDOHJDHQTXHR HVWiQGDU SRORPHQRVRHVWiQGDUOp[LFR QRQHVWiSOHQDPHQWHFRQVROLGDGRH VRFLDOL]DGRHVDPtQLPDJDUDQWtDQRQH[LVWH'HVWH[HLWRFRPRLQGLFD)LJXH URD´RWH[WRQDV~DOHFWXUDYHUDVHiVYHFHVGRWDGRGXQKDDPELJLGDGHVX SOHPHQWDULDHQRQTXHULGD>@3RUSRxHUXQH[HPSORLPD[LQHPRVTXHXQ DXWRUHPSUHJDDSDODEUD;TXHHOHQWHQGHFRPRSHUWHQFHQWHyJDOHJRHVWiQ GDUSHURTXHHQUHDOLGDGHpXQORFDOLVPRRXXQGLDOHFWDOLVPRGHiPELWREHQ UHVWULQ[LGR R OHFWRU QRQ SRGHUi PHQRV GH YHU Dt XQ IHLWR HVWLOtVWLFR QRQ SRGHUiPHQRVGHOHUXQIHLWRGHHVWLORTXHSRUVXSRVWRRDXWRUQRQFRQWUROD 6XSRxDPRVTXHRDXWRUGHVH[DXWLOL]DU³FRPRRIDL*LGHSRUH[HPSOR³ XQDUFDtVPRSDUDSURGXFLUGHWHUPLQDGRVHIHFWRV¢QRQpPRLSRVLEOHTXHR OHFWRURLQWHUSUHWHFRPDXQKDSDODEUDGDVUHFpQLQWURGXFLGDVSDUDVXVWLWXtUD XQFDVWHODQLVPRFRPDXQGLDOHFWDOLVPRHWF"µ )LJXHURD  1XQ FRQWH[WR HQ TXH R GLDOHFWDOLVPR HVSHFLDOPHQWH R Op[LFR GLDOHFWDO QRQ p SHUFLELGR FRPR WDO p GLFLU FRPR IRUPD GHVYLDGD D QRQ VHU SRU XQ UHGXFLGR JUXSR GH OHFWRUHV DOWDPHQWH ILOROR[L]DGRV PiLV Fy VHX HPSUHJR FRQHVWHILQ SRUH[HPSORFRPRUHFXUVRSDUDFDUDFWHUL]DUXQSHUVRQD[HRX SDUD DPELHQWDU XQ WHPD ORFDO  LQWHUpVDQRV PiLV EHQ DQDOL]DOR DSURYHLWD PHQWRDH[SORWDFLyQOLWHUDULDGHIRUPDVGLDOHFWDLVGHFLUFXODFLyQUHVWULQ[LGDH RVHIHFWRVTXHHVDH[SORWDFLyQSRGHWHUVREUHDGLIXVLyQHRHVWDWXWRGHVDV IRUPDV&XPSUDPRVSRLVFRSURPHWLGRyFRPH]RHYH[DPRVDOJ~QVH[HP SORV $EUHQWH $[XOJDUSRORVGDWRVTXHRIUHFHR$/*DDEUHQWHpXQKDSDODEUDGHPRL HVFDVDSUHVHQFLDQRJDOHJRRUDO'HIHLWRVXPDQGRDVUHVSRVWDViVSUHJXQWDV  $OED OX]DGD PDGUXJDGD  H  $XURUD DEUHQWH DPDxHFHU DPDQHFHU  GR FXHVWLRQDULRVyDSDUHFHUH[LVWUDGRHQFLQFRSXQWRVGLVSHUVRVGDSURYLQFLDGD &RUXxD YLG 0DSD  HODERUDFLyQ SURSLD FRPR WyGRORV RXWURV TXH VH SUH VHQWDQ D SDUWLU GH PDWHULDLV LQpGLWRV GR $/*D  (Q FRQVRQDQFLD FRQ HVWD HVFDVDUHSUHVHQWDFLyQQRJDOHJRRUDOHVHJXQGRDEDVHGHGDWRVOH[LFRJUiILFD GR,/*DV~DIUHFXHQFLDQRVWH[WRVOLWHUDULRVGRVpFXOR;,;VHPHOODSURSRU FLRQDOPHQWHHVFDVD'HIHLWRVLJQLILFDWLYDPHQWHVyDSDUHFHGRFXPHQWDGDFR VHXVHQWLGRUHFWRQXQKDFiQWLJDSRSXODU 7UDVRDEUHQWHGRGtDDLDXJDIUHVFDFDWDU 'RPLQJR%ODQFR>@ 

,JXDOPHQWHVLJQLILFDWLYRpRIHLWRGHTXHHVWDYR]QRQDSDUH]DQDOH[LFR JUDItDJDOHJDDWDR9RFDEXODULR3RSXODU*DOHJR&DVWHOiQTXHRUHFROOHLJXDOFyV GLFFLRQDULRV GH &DUUp H GH (ODGLR 5RGUtJXH] XQLFDPHQWH FRD DFHSFLyQ GH ¶DPDxHFHU·



/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR

0DLVYHODTXtTXHDV~DIRUWXQDOLWHUDULDPXGDUDGLFDOPHQWHDSDUWLUGDGp FDGDGH6HHQWRGDOLWHUDWXUDSURGXFLGDQRVpFXOR;,;DEUHQWHVyDSDUH FtDXQKDYH] HQXQKDFiQWLJDSRSXODU QDGpFDGDGRVDSDUHFHYHFHV QR FRUSXV PDQH[DGR QD GpFDGD GRV  RV UH[LVWURV HOpYDQVH [D D  (Q OLxDV[HUDLVSyGHVHGLFLUTXHRVHXUHQGHPHQWRVHPDQWpQDWDDDFWXDOLGDGH 1RXWUD RUGH GH FRXVDV FRQIRUPH VH SURGXFH D V~D GLIXVLyQ QR JDOHJR HVFULWRDSDODEUDH[SHULPHQWDXQKDGREUHHYROXFLyQSRUXQKDEDQGDYDLVH FDUJDQGR HVWLOLVWLFDPHQWH GH [HLWR TXH TXHGD PDUFDGD FRPR IRUPD OLWHUDULD RXSRpWLFDIURQWHDRXWUDVVROXFLyQVPiLV¶FRP~QV·HWULYLDLV DPHQFHUDPDxH FHU  SRU RXWUD YDL DVXPLQGR QRYRV VHQWLGRV ILJXUDGRV RX PHWDIyULFRV FR GHQRPLQDGRU FRP~Q GH ¶SULPHLURV PRPHQWRV GD YLGD RX GR GHVHQYROYH PHQWRGHDOJRRXGHDOJXpQ· )RLQRSDtVORQ[DQRGRDEUHQWHGDPLxDYLGD &DUEDOOR  $PiLVDQWLJDYR]GRDEUHQWHGDFLYLOL]DFLyQRXFLGHQWDOHXURSHD )HUQiQGH]GH OD9HJDH3LxHLUR 

 0DSD'LVWULEXFLyQGHDEUHQWH



(UQHVWR*RQ]iOH]6HRDQH

$tQGDTXHRVH[HPSORVGHVWDDPSOLDFLyQVHPiQWLFDVRQPRLYDULDGRVR Pi[LPR UHQGHPHQWR SDUHFH HVWDU OLJDGR y HPSUHJR UHYHVWLGR GXQKD IRUWH FDUJDVLPEyOLFDHLGHROy[LFDFRPR¶SULPHLURVVLQDLVGXQSURFHVRTXHVXSyQ XQKDUXSWXUDRXXQKDUHYROXFLyQFRQUHVSHFWRySUHVHQWH· $VHJXUpPROD SRVHVLyQ DEVROXWD GR SRUYLU FXLRDEUHQWH OXPLRVR DQGDQ [D D DQXQFLDUHQDVVLxiV 5H[XUGLPHQWR  (VFXOFDQGR R SRUYLU TXH [D HQFHWRX R VHXDEUHQWH OXPLRVR $ 1RVD 7HUUD   $JRUD VRPRV KRPHV HVWDPRV QRDEUHQWH GXQKD QRYD HUD 2WHUR 3HGUD\R   7LxD D VHJXUDQ]D GH YLYLU QXQDEUHQWH QR TXH D FHQFLD VHUtD D VDOYDFLyQ GRV KRPHV 2WHUR3HGUD\R 

1RJDOHJRDQWHULRUiJXHUUDDEUHQWHDVXPHDtQGDXQKDDFHSFLyQPiLVDGH ¶RULHQWH·TXHVHQHPEDUJRQRQFKHJRXDFDOODUQRJDOHJROLWHUDULR 2VWHVRXURVGR$EUHQWH *yPH]/HGR  5HFRUUtDQR$EUHQWHHQSHOHULQD[HSLDGRVDHFHQWtILFD /RJRV  $VWHUUDVGR([WUHPR$EUHQWH /RJRV 

9DJDOXPHOXFHF~ 2XWUR H[HPSOR TXH SRGH LOXVWUDORV HIHFWRV GR UHVSDOGR OLWHUDULR VREUH D IRUWXQD GXQKD SDODEUD GH HVFDVD IUHFXHQFLD p R FDVR GH YDJDOXPH 1RQ SDUHFH PRL DUULVFDGR DILUPDU TXH HVWD p KR[H HQ GtD D GHQRPLQDFLyQ FRP~Q ¶HVWiQ GDU· GXQ LQVHFWR FROHySWHUR FRQ DVSHFWR GH YHUPH TXH HPLWH OX] QD HVFXUL GDGH Ð TXH SDUHFH HVWD p WDPpQ D IRUPD FRQVDJUDGD SROD OLWHUDWXUD FDQGR PHQRV QR VpFXOR ;; 1D EDVH GH GDWRV TXH WRPDPRV FRPR UHIHUHQFLD DSD UHFH DERQGRVDPHQWH UH[LVWUDGR D SDUWLU GH  TXH p D GDWD GD GRFXPHQWD FLyQPiLVDQWLJD $TXHODV VHLV OXFHV YLYHQWHV HQ SUHQD VRPD VRPHOODEDQ OXFHQWHV YDJDOXPHV &DU EDOODO 

)URQWHDHODDYR]OXFHF~ FRDVYDULDQWHVOXFHQF~OXFLF~OXFLQF~OX]DQF~ VHQ G~ELGDPHQRVSRpWLFDHHYRFDGRUDDSHQDVWLYRDSURYHLWDPHQWROLWHUDULR  RFRUUHQFLDV QR FRUSXV  GHODV HQ WH[WRV GH 0pQGH] )HUUtQ  )LQDOPHQWH RXWUDV GHQRPLQDFLyQV SRSXODUHV VRQ SUDFWLFDPHQWH GHVFRxHFLGDV QD OLWHUD WXUD H DWUHYHUtDPH D GLFLU TXH WDPpQ HQWUH ERD SDUWH GRV IDODQWHV DFWXDLV YHOODYHOOLxDYHOODIDFHQGRaTXHQWDQGRRFDOGRaDVSDSDVaDFHDYHOODPRUWDYHOODGR FDOGRaGDVSDSDVYHOODGDVVLOYHLUDVYHOODHQFRLURVYHOODFHDQGRYHUPHaELFKRFRGHOX] aGDQRLWHaOXPLHLURaDOXPyQHWF



/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR

 0DSD'LVWULEXFLyQGHYDJDOXPHHOXFHF~HYDULDQWHV 6HQHPEDUJRXQKDYLVLyQGRPDSDFRUUHVSRQGHQWHSHUPtWHQRVFRPSUR EDUFyPRRUHQGHPHQWROLWHUDULRGHFDGDXQKDGHVWDVVROXFLyQVUHVXOWDLQYHU VDPHQWH SURSRUFLRQDO i V~D SUHVHQFLD QD IDOD (Q HIHFWR YDJDOXPH D PiLV IUHFXHQWHQRVWH[WRVDWRSiPRODVyHQWUHVSXQWRVGLVSHUVRVOXFHF~HYDULDQ WHVDSDUHFHQQXQKDiUHDFRPSDFWDTXHRFXSDDPHWDGHVXUGDSURYLQFLDGH 3RQWHYHGUDH]RQDVHVWUHPHLUDVGDGH2XUHQVHDVUHVWDQWHVGHQRPLQDFLyQV VREUHDEDVHGHYHUPHRXGHYHOODDSDUHFHQHVSDOODGDVSRORUHVWRGRWHUULWRULR YLG0DSD 6HPHOODSRLVTXHDHOHYDFLyQGHYDJDOXPHiFRQGLFLyQGHIRUPD HVWiQGDUHDV~DGLIXVLyQDFWXDOpXQSURGXFWRGXQKDWUDQVIHUHQFLDGHVGHRV GRPLQLRVGDOLWHUDWXUDHQRQXQKDFRQVHFXHQFLDGRVHXSUHGRPLQLRQDIDOD (VSUHLWDU (VSUHLWDU p RXWUR FDVR GH VROXFLyQ FRQ EDL[D IUHFXHQFLD QR JDOHJR RUDO &RPRSRGHDSUHFLDUVHQR0DSDDVFLQFRORFDOL]DFLyQVDSDUHFHQVDOIHULGDV SRORVXUGDSURYLQFLDGH2XUHQVHHQRJDOHJR]DPRUDQR(QFDPELRFRQWUD R TXH FDEHUtD HVSHUDU i YLVWD GD V~D SUHVHQFLD QD IDOD HVSUHLWDU FRQVHJXLX IDFHUVHXQRFRQRJDOHJROLWHUDULR $tQGDTXHDVSULPHLUDVGRFXPHQWDFLyQVGDWDQGHILQDLVGRVpFXOR;,;R LPSXOVRGHILQLWLYRSDUDDV~DH[SDQVLyQSURG~FHVHQRYDPHQWHQDGpFDGDGRV



(UQHVWR*RQ]iOH]6HRDQH

'HIHLWRSDUDRVpFXOR;,;FRQWDPRVXQLFDPHQWHFXQSHTXHQRJUXSR GHH[HPSORVGRRXUHQViQ/DPDV&DUYDMDO 4XHPHQWUDVDQGRGHQRLWH9LGDVGRXWURVHVSUHLWDQGR0LOORUIRUDTX·HVWLYHUD 27tR0DUFRV 

 0DSD'LVWULEXFLyQGHHVSUHLWDU 3RU PiLV TXH D V~D GLIXVLyQ SRLGD WHRULFDPHQWH DWULEXtUVH D XQKD LQ IOXHQFLD GR SRUWXJXpV HQ TXH HVSUHLWDU VH XVD WDQWR FR VHQWLGR GH ¶D[H[DU· FRPRFRGH¶HVFUXWDU·RX¶REVHUYDUGHWLGDPHQWH·VHPHOODFDQGRPHQRVIDFWL EOH H[SOLFDOD FRPR XQKD HYROXFLyQ DXWyQRPD 1HVWH VHQWLGR SHQVR TXH D HVWD H[SDQVLyQ QRQ GHEHX GH VHU DOOHD D VREUHH[SORWDFLyQ GHVWD IRUPD HQ 2WHUR 3HGUD\R RXUHQViQ FRPD /DPDV D TXHQ VH GHEH PiLV GR  GDV RFRUUHQFLDV UH[LVWUDGDV 6H[D FRPR IRU D V~D GHVGLDOHFWDOL]DFLyQ SHUFtEHVH FODUDPHQWHVHFRQVLGHUiPRODVRUL[HV[HRJUiILFDVGLVSDUHVGRVHVFULWRUHVTXH DHPSUHJDQ &HOVR(PLOLR)HUUHLUR6LOYLR6DQWLDJR&DUEDOOR&DOHUR5RGUt JXH] %DL[HUDV %RX]D %UH\ 5DPLUR )RQWH 0DQXHO )RUFDGHOD $Q[R 5HL %DOOHVWHURVRX$TXLOLQR,JOHVLD$OYDULxRHQWUHRXWURVPRLWRV 'HSRUSDUWH SDUDOHODPHQWH i V~D GLIXVLyQ QD OLQJXD OLWHUDULD HVSUHLWDU FRPH]D D DVXPLU

/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR



DFHSFLyQVSUy[LPDVPDLVQRQSOHQDPHQWHFRLQFLGHQWHVFRDRUL[LQDOGH¶PLUDU iVDJDFKDGDVD[H[DU· 6RUSUHQGHXQDSHUWRGRVEDUUDFyVHVSUHLWDQGRFDUDROXJDURQGHHVWDEDQRVSUH VRV &()HUUHLUR  'HVGHDVSyERDVDOJXpQPHHVWiDHVSUHLWDUFRQELQyFXORV 5RGUtJXH]%DL[HUDV  

1XQ SDVR PiLV DOi DFDED VHQGR XVDGR FR VHQWLGR PiLV [HUDO GH ¶PLUDU· ¶FRQWHPSODU·RX¶HVFUXWDU· $ DXJD TXH FRUUH SROR YDO TXHHVSUHLWDV GHQGH R WHX WURQR QDWXUDO &DUEDOOR   1LVWHLQWUHFRPH]DRYDOTXHWHPRVGHHVSUHLWDUHFRVVHXVHVSDOODPHQWRVHDU WHOODPHQWRV 2WHUR3HGUD\R  'HWLxDRVHXFDEDORSDUDHVSUHLWDUQRFHRGHVSH[DGRGDPDxiQRYRRGXQKD FDODQGUD 5H\%DOOHVWHURV 

Ð WHPSR R XVR OLWHUDULR YDL SHUILODQGR HVSUHLWDU FRPR IRUPD HVWLOLVWLFD PHQWH PDUFDGD IURQWH D VROXFLyQV DOWHUQDWLYDV FRPR D[H[DU TXH GH FHUWR UHVXOWDPiLVWULYLDOHFRORTXLDOHPHQRVYHUViWLO SRUPRQRVpPLFD  $UUyFyPDUR 3RODFRQWUDRFDVRGHDUUySRGHVHUYLUSDUDLOXVWUDUXQSURFHVRIUXVWUDGR GH HOHYDFLyQ PHGLDQWH R FXOWLYR OLWHUDULR GXQKD VROXFLyQ PLQRULWDULD QR JDOHJR RUDO 3DUD GHVLJQDOD IDL[D GH WHUUHR QRUPDOPHQWH HOHYDGD TXH VH GHL[D VHQ FXOWLYDU FRPR PHGLR SDUD GHUUHJDU G~DV OHLUDV H[LVWHQ HQ JDOHJR GLYHUVDVVROXFLyQVXQKDGHODVDUUyUH[tVWUDVHQRVIDODUHVILVWHUUiQVQRUHVWR GR WHUULWRULR DV IRUPDV PDLRULWDULDV VRQ FyPDUR FyPEDUR H D IRUPD VXIL[DGD FRP E DUHLUR YLG0DSD  $DQiOLVHGRFRUSXVUHYHODGH[HLWRLQHTXtYRFRTXHDSHVDUGRVHXXVR OLWHUDULR PHVPR SRU SDUWH GH DXWRUHV UHOHYDQWHV $xyQ 3RQGDO &DVWHODR  DUUyQRQFRQVHJXLXWUDQVFHQGHODIURQWHLUDGRGLDOHFWDOeVLJQLILFDWLYRQHVWH VHQWLGRTXHDSHQDVWHQXVRHQHVFULWRUHVDOOHRViiUHDGDTXHpSURSLD$Vt DWRSiPROD HQ $xyQ 2XWHV  /LVDUGR %DUUHLUR 1RLD  &DVWHODR 5LDQ[R  *DUFtD5RGUtJXH] 0XURV 0DUWHOR3DXPiQ YLQFXODGRD9LPLDQ]R 3RQGDO 3RQWHFHVR  6DQ /XLV 5RPHUR &DUEDOOR  7REtR &DPSRV %ULyQ  =DSDWD *DUFtD /D[H 9DOODGDUHV $(VWUDGD HWF 3ROD FRQWUD D V~D IRUPD ULYDO FyPDUR DUULQFD [D FRQ IRU]D GHVGH XQ SULQFLSLR H YHVH UHVSDOGDGD SROR VHX HPSUHJR QDV WUHV FRURDV GR 5H[XUGL PHQWR 5RVDOtD &XUURV H R SURSLR 3RQGDO TXH D SHVDU GH QRQ WHOD FRPR SURSLD HPSUHJD FyPDUR FRQ PiLV IUHFXHQFLD Fi V~D IRUPD QDWLYD $PDLV GR SUHVWL[LR TXH OOH GHEHX FRQIHULOD V~D SUHVHQFLD QRV FOiVLFRV GR 5H[XUGL PHQWRFyPDURVHJXUDPHQWHUHFLELXXQQRYRSXORPHUFpySURIXVRHPSUHJR



(UQHVWR*RQ]iOH]6HRDQH

TXHIDLGHOD$TXLOLQR,JOHVLD$OYDULxR'RXWUDEDQGDVHVHDWHQGHiGLVSRVL FLyQ FURQROy[LFD GRV UH[LVWURV SyGHVH DGYHUWLU FyPR PHQWUHV TXH DUUy GHVDSDUHFH GRV WH[WRV D SDUWLU GD GpFDGD GRV  GHVSRLV GHVD GDWD Vy R DWRSDPRVHQ'DUtR;RiQ&DEDQDHHQ;RVp0DQXHO9DOFiUFHODPERVOXJXH VHVDtQGDTXHFRQYLQFXODFLyQVFRDiUHDILVWHUUi FyPDURPDQWpQDV~DSUHVHQ FLDQDOLWHUDWXUDSURGXFLGDQDDFWXDOLGDGH

 0DSD'LVWULEXFLyQGHDUUy 'H SRU SDUWH FRPD QRV H[HPSORV YLVWRV DQWHULRUPHQWH FyPDUR H[SHUL PHQWD SDUDOHODPHQWH i V~D GLIXVLyQ XQ LQWHUHVDQWH SURFHVR GH DPSOLDFLyQ TXHDSURYHLWDRVGRXVWUD]RVVHPiQWLFRVTXHQXFOHDQRVHXVLJQLILFDGRRUL[L QDULRRGH¶HOHYDFLyQ·HRGH¶HVWUHPD·'HVWH[HLWRDVXPHSRUXQKDEDQGD DDFHSFLyQGH¶RXWHLUR· TXHORJRSRGHVHUXVDGRPHWDIRULFDPHQWH  1RORQ[HHUJXtDVHXQFyPDURFXQSRERUR[RHUHTXHLPDGRQDDED 0pQGH] )HUUtQ  1RLDHVWiQXQSHTXHQRFyPDURPLUDQGRSDUDDUtD 'tD])HUQiQGH]  3RUTXHVHHUJXtDQQRKRUL]RQWHXQVFyPDURVGHQXEHVEUDQFDV 3LxHLUR 

HSRURXWUDDGH¶OtPLWH·QRUPDOPHQWHHQVHQWLGRDEVWUDFWR



/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR

8QKD HQIHLWL]DQWH KDUPRQtD FHOHVWLDO TXH WUDQVFHQGH RVFyPDURV GR HQWHQGH PHQWRKXPDQR /DPD  ¢4XHPXOOHUDOLQGDEDDOtDFDUyQGHPLQPHVPRQRVFyPDURVGRPHXHVSULWR" &XQTXHLUR 

3ROD FRQWUD DUUy QXQFD GHL[RX GH VHU HPSUHJDGR FR VHX VHQWLGR PDWHULDO RUL[LQDULR ;HQD 8Q FDVR VHPHOODQWH p R GH [HQD XQKD VROXFLyQ DOWHUQDWLYD yV PiLV FR P~QVFDEUDaFUDEDHFDEX[DTXHR$/*DUH[LVWUDVyHQWUHVSXQWRVGRRFFL GHQWHGH2XUHQVH YLG0DSD  $tQGDVHQGRXQKDIRUPDWDQPLQRULWDULDWHQFHUWDWUDGLFLyQQDOLWHUDWXUD QRQWDQWRSRODFDQWLGDGHFRPRSRODUHOHYDQFLDGDOJ~QVGRVHVFULWRUHVTXHD HPSUHJDURQ 6DFR D TXHQ FRUUHVSRQGH R UH[LVWUR PiLV DQWLJR 2WHUR 3H GUD\R0pQGH])HUUtQ$QWyQ7RYDU &RPRVHSRGHDSUHFLDUSRUHVWDFXUWD QyPLQD GH HVFULWRUHV WDPSRXFR [HQD FRQVHJXLX GHVGLDOHFWDOL]DUVH H GHVWH [HLWRSDVDUyIRQGRFRP~QGRJDOHJROLWHUDULR

 0DSD'LVWULEXFLyQGH[HQD



(UQHVWR*RQ]iOH]6HRDQH

$FLRFDFKR 2V FDVRV GH DFLR H FDFKR FRQVWLW~HQ XQV ERV H[SRxHQWHV GRV HIHFWRV FRQWUDSRVWRVGRFXOWLYROLWHUDULRVREUHDGLIXVLyQGHG~DVVROXFLyQVRUL[LQD ULDPHQWHPDUFDGDVFRPRGLDOHFWDLV 1R0DSDSRGHYHUVHFiOpDGLVWULEXFLyQWHUULWRULDOGHVWDVVROXFLyQVQR JDOHJR RUDO $FLR TXH RFXSD XQKD iUHD DOJR PDLRU UH[tVWUDVH IXQGDPHQWDO PHQWHQDPHWDGHQRUWHGDSURYLQFLDGH3RQWHYHGUDHDV]RQDVHVWUHPHLUDVGH /XJRH2XUHQVH DEUDQJXHQGRWRWDORXSDUFLDOPHQWHDVFRPDUFDVGR6DOQpV GD8OODHGR5LEHLURGH$YLDHGR0LxR 3RODV~DSDUWHFDFKRORFDOt]DVHHQ SXQWRVGLVSHUVRVVDOIHULGRVSRUWRGRRWHUULWRULRJDOHJRHQXQKD]RQDFRP SDFWD VLWXDGD y VXU GD SURYLQFLD GH 3RQWHYHGUD TXH LQFO~H D ]RQD GH SUR GXFFLyQ YLQtFROD GR FXUVR EDL[R GR 0LxR 1R UHVWR GR WHUULWRULR JDOHJR FRH[LVWHQ VHQ IRUPDU iUHDV GLYHUVDV VROXFLyQV FDFKR SLxD H PiLV FRPXQ PHQWHRFDVWHODQLVPRUDFLPRRXDOJXQKDGDVV~DVYDULDQWHV

 0DSD'LVWULEXFLyQGHDFLRHFDFKR 1RFRUSXVFRQVLGHUDGRDIUHFXHQFLDUHODWLYDGDVG~DVVROXFLyQVpGH RFRUUHQFLDVGHDFLRSRUFDGDDSDULFLyQGHFDFKR$GHPDLVFDFKRHVWiSUHVHQWH IXQGDPHQWDOPHQWH HQ WH[WRV GH LQVSLUDFLyQ SRSXODU HQWUH HOHV HQ GRXV

/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR



DXWRUHVGHUHOHYRFRPR5RVDOtDH3LQWRV HQWDQWRTXHDFLRDSHQDVFRQWDFRQ FRPSHWLGRUHV QD OLWHUDWXUD FXOWD $ VHOHFFLyQ GH DFLR FRPR IRUPD OLWHUDULD IDYRUHFHXVHQG~ELGDDV~DFRQYHUVLyQQDIRUPDGHUHIHUHQFLDGRHVWiQGDUH SRU RXWUD EDQGD SURSLFLRX D DPSOLDFLyQ GD V~D HVIHUD VHPiQWLFD DWD IDFHOD FDSD] GH GHVLJQDU PHWDIRULFDPHQWH XQ FRQ[XQWR QXWULGR GH HOHPHQWRV DSUHWDGRV 2V DFLRV GH DQ[RV WUHPDQ GH HPRFLyQ IDFHQGR UHQ[HU DV WUDEHV &DUEDOOR   1DFLGiGDVFDGHDVHGRVPRUWRVHQDFLRV &()HUUHLUR  'DQDFLRVGHIORUHVEUDQFDVFXQLQWHQVRDUUHFHQGRDPHO 9DOFiUFHO 

&DFKRSRODFRQWUDVypXVDGRFRVHQWLGRRUL[LQDULRGHFRQ[XQWRGHXYDV XQLGDV SRU XQ FDQJDOOR 'H SRU SDUWH D VHOHFFLyQ GH DFLR HQ GHWULPHQWRGH FDFKR QRQ VHUtD DOOHD y IHLWR GH VHU HVWD XQKD SDODEUD SROLVpPLFD H VHJXUD PHQWHFRQQRWDGDFRPRSRXFRHOHYDGD 3tQWHJDVDFDEHLUDVDODPiQWLJDVDEDQGX[D 2 FDVR GHVWDV IRUPDV UHYLVWH XQ LQWHUHVH HVSHFLDO QD PHGLGD HQ TXH D [XOJDUSRORUHSDUWRWHUULWRULDOTXHVHSRGHDSUHFLDUQR0DSDQRQSDUHFH TXH QR JDOHJR RUDO H[LVWD XQ SUHGRPLQLR FODUR GH QLQJXQKD GHODV (Q FDO TXHUD FDVR R FRQWUDVWH GD GLVWULEXFLyQ [HRJUiILFD FR XVR OLWHUDULR RIUHFH QXPHURVRV GDWRV GH LQWHUHVH $Vt DWHQGHQGR i V~D IUHFXHQFLD HQ WHUPRV DEVROXWRV DGYtUWHVH TXH StQWHJD H VDODPiQWLJD VRQ SRU HVWD RUGH DV IRUPDV PiLVHPSUHJDGDVQRVWH[WRVHQFRQWUDVWHFRQVDFDEHLUDHSLQFKRUUDTXHFXQV SRXFRVUH[LVWURVFDGDXQKDRFXSDQDEDQGDEDL[DGDHVFDOD3RURXWUDEDQGD FDQWRiGHVGLDOHFWDOL]DFLyQDDQiOLVHGRFRUSXVLQGLFDEHQiVFODUDVTXHVDFD EHLUDHSLQFKRUUDQRQFRQVHJXLURQSUR[HFWDUVHIyUDGDVV~DViUHDVRUL[LQDULDV 'HIHLWRVDFDEHLUDDSDUHFHH[FOXVLYDPHQWHHQDXWRUHVPLQGRQLHQVHV ;DQGH 0DVPD/HLUDV*R\'tD]&UHFHQWH9HJD/HQFH6DQWDU HQWDQWRTXHSLQFKR UUDDSDUHFHHQDXWRUHVQDWLYRVGDPHWDGHVXUGH/XJR $0RQWHLUD5RGUtJXH] /ySH] 'DUtR ;RKiQ &DEDQD  RX FRQ YLQFXODFLyQV FRQ HVWD iUHD &DUEDOOR &DOHUR 'H[HLWRVHPHOODQWHVDODPiQWLJDUH[tVWUDVHPDLRULWDULDPHQWHHQDXWR UHVRXUHQViQV *DUFtD)HUUHLUR3pUH]3ODFHU5LVFR0pQGH])HUUtQ 2XVR GHStQWHJDHQFDPELRQRQSDUHFHHVWDUYLQFXODGRiRUL[HGRHVFULWRU'HVWH [HLWR WpPROD HQ DXWRUHV GH SURFHGHQFLDV GLYHUVDV FRPR &RWDUHOR )XFR *yPH] ,JOHVLD $OYDULxR *yPH] /HGR 0DUJDULWD /HGR 0pQGH] )HUUtQ /ySH]&DVDQRYD5RGUtJXH]%DL[HUDV&XxD1RYiVHWF 7DQWRRXPiLVLQWHUHVDQWHUHVXOWDDGLVWULEXFLyQFURQROy[LFDTXHPRVWUD GH [HLWR LQHTXtYRFR TXH StQWHJD p IURQWH iV V~DV SRWHQFLDLV FRPSHWLGRUDV XQKD IRUPD HQ H[SDQVLyQ (Q HIHFWR VH FRQVLGHUiPRORV WH[WRV GR FRUSXV SXEOLFDGRVGHVSRLVGHDGYHUWLPRVTXHVDFDEHLUDFDUHFHGHXVRQRVWH[



(UQHVWR*RQ]iOH]6HRDQH

WRVDFWXDLVGHSLQFKRUUDUH[LVWUDPRVXQKDVRDRFRUUHQFLD QRFKDLUHJR'DUtR ;RKiQ &DEDQD  VDODPiQWLJD DSDUHFH HQ FLQFR RFDVLyQV ILQDOPHQWH StQWHJD DWLQ[HDFLIUDGHUH[LVWURVQHVHPHVPRSHUtRGR

 0DSD'LVWULEXFLyQGHStQWHJDVDFDEHLUDVDSDJXHLUDSLQFKRUUDVDEDQGX[D VDODPiQWLJDHVDUDPDJDQWD ;HEUDU 'HL[RGHOLEHUDGDPHQWHSDUDRILQDORFDVRGH[HEUDU(VWDSDODEUDUH[tV WUDVH IXQGDPHQWDOPHQWH QD EDQGD PiLV RULHQWDO GH /XJR H QR JDOHJR GH $VWXULDVH/HyQSDUDGHVLJQDODDFFLyQGHVHSDUDUSHUVRDVRXFRXVDVHHVSH FLDOPHQWHRJDQGRTXHYpQ[XQWRGRPRQWHRXGRSDVWR YLG0DSD  2VH[HPSORVGRVHXXVROLWHUDULRPRVWUDQTXHH[LVWHXQKDFRLQFLGHQFLD IXQGDPHQWDO HQWUH D ]RQD GH SURFHGHQFLD GRV HVFULWRUHV TXH D HPSUHJDQ ,JOHVLD $OYDULxR 5DPyQ 3LxHLUR )ROH *D\RVR 9HLJD 9DOHQWtQ $ULDV 5i EDGH3DUHGHV;RVp0DQXHO9DOFiUFHO HDiUHDTXHRFXSDQRJDOHJRRUDO $SDUHQWHPHQWH QRQ VH SRGH GLFLU SRLV TXH WRFDQWH y XVR OLWHUDULR [HEUDU FRQVHJXLUD FXOPLQDOR VHX SURFHVR GH GHVGLDOHFWDOL]DFLyQ 6HQ HPEDUJR H[LVWHQLQGLFLRVTXHDSXQWDQDXQKDGLIXVLyQLQFLSLHQWHHQWH[WRVQRQOLWHUD ULRVHSRURXWUDEDQGDyVHXHPSUHJRFRQVLJQLILFDGRVQRQPDWHULDLV



/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR

$ LPD[LQDFLyQ SHUPLWH LQGHSHQGL]DUVH[HEUDUVH GD LPSRVLFLyQ OLPLWDWLYD GD UHDOLGDGH 3LxHLUR  1HVWDGLYLVLyQ[HEUiEDQVHGDVDOJDVSRUXQFDUiFWHUQHJDWLYR &DVWURH)UHLUH  

 0DSD'LVWULEXFLyQGH[HEUDU 2VH[HPSORVSURSRVWRVPRVWUDQRXFDQGRPHQRVHVDIRLDQRVDSUHWHQ VLyQRVHIHFWRVHDVSRVLELOLGDGHVTXHRIUHFHDH[SORWDFLyQOLWHUDULDGROp[LFR SRXFRUHSUHVHQWDGRQRJDOHJRRUDORXSURSLRGHiUHDVGLDOHFWDLVUHVWULQ[LGDV 6HJXQGRPHQFLRQDEDPRVDQWHVQXQKDVLWXDFLyQGHGLJORVLDH[LVWHQGLILFXO WDGHV FHUWDPHQWH QRWDEOHV SDUD TXH RV HOHPHQWRV GLDOHFWDLV HPSUHJDGRV QR WH[WRSRLGDQVHUSHUFLELGRVFRPRWDOHVSRORVPiLVGRVOHFWRUHVGHSRUSDUWH QLQ VHTXHUD RV PiLV ILOROR[L]DGRV FDSDFHV GH LGHQWLILFDU HVDV YRFHV FRPR GLDOHFWDLV WHxHQ JDUDQWLGR TXH D SUHVHQFLD GHVHV HOHPHQWRV UHVSRQGD D XQ XVRHVWLOtVWLFRGHOLEHUDGRGRDXWRU$tQGDDVtDSUHVHQFLDGHOp[LFRGLDOHFWDO PLQRULWDULRQRVWH[WRVUHYpODVH~WLOHQSULPHLURWHUPRSRUTXHFDQGRPHQRV QDOJ~QV FDVRV FRQWULE~H y DUUHTXHFHPHQWR GR JDOHJR OLWHUDULR H HYHQWXDO PHQWH GR JDOHJR HVWiQGDU FRP~Q H SRU RXWUD EDQGD SRUTXH PHVPR QDV FRQGLFLyQV DFWXDLV H LQGHSHQGHQWHPHQWH GH TXH R GHVWLQDWDULR GD REUD DV LGHQWLILTXH HVSHFLILFDPHQWH FRPR YRFHV GLDOHFWDLV R HPSUHJR GH VROXFLyQV PLQRULWDULDV FRQVWLW~H XQ UHFXUVR HVWLOtVWLFR TXH QRQ VH FRQWUDGt QHFHVDULD PHQWHFRDIXQFLyQGRHVFULWRUFRPRD[HQWHGLIXVRUGRHVWiQGDU



(UQHVWR*RQ]iOH]6HRDQH 5()(5(1&,$6%,%/,2*5É),&$6

%,%/,2*5$)Ì$&,7$'$ $ORQVR 3LQWRV 6  3DUD XQKD KLVWRULD GR HVWiQGDU JDOHJR $V SURSRVWDV GR SHUtRGR 0HPRULDGHOLFHQFLDWXUD86& ÉOYDUH] %ODQFR 5   ´1D HVWUHPD GR JDOHJR D OLQJXD GR %LHU]R %DL[R WUDQVPLWLGD SRU )HUQiQGH] \ 0RUDOHVµ LQ 5 /RUHQ]R H 5 ÉOYDUH] HGV  +RPHQD[HiSURIHVRUD3LODU9i]TXH]&XHVWD 6DQWLDJR8QLYHUVLGDGHSS $UpYDOR-RDTXtQGH  ´(OGLDOHFWRµ*DOLFLD5HYLVWD5HJLRQDO,,SS &XYHLUR 3LxRO -XDQ   (O KDEOD JDOOHJD 2EVHUYDFLRQHV \ GDWRV VREUH VX RULJHQ \ YLFLVLWXGHV3RQWHYHGUD,PSGH-RVp$$QWXQH]\& )HUQiQGH] GH OD 9HJD & H 5 3LxHLUR   ´$FUDUDFLyQV GRV WUDGXWRUHVµ LQ - 3RNRUQ\&DQFLRHLURGDSRHVtDFpOWLJD 6DQWLDJR%LEOLyILORV*DOOHJRVSS;,,,;9, )LJXHURD$  'LJORVLDHWH[WR9LJR;HUDLV *DUYLQ3DXO/  ´7KH6WDQGDUG/DQJXDJH3UREOHP&RQFHSWVDQG0HWKRGVµ LQ 3DXO / *DUYLQ2Q /LQJXLVWLF 0HWKRG 6HOHFWHG 3DSHUV  7KH +DJXH 0RXWRQ SS  3DUGR%HFHUUD0DQXHO  ´'·DIDODJDOOHJDµ$0RQWHLUD,  SS   SS  SS 5HDO $FDGHPLD *DOOHJD   1RUPDV RUWRJUiILFDV H PRUIROy[LFDV GR LGLRPD JDOHJR$&RUXxD5$* 6DFR$UFH-XDQ$QWRQLR  *UDPiWLFDJDOOHJD/XJR,PSUHQWDGH6RWR)UHLUH 6DQWDPDULQD$  ´*DOHJLVFK6SUDFKQRUPLHUXQJXQG6WDQGDUGVSUDFKH1RUPD \ HVWiQGDUµ LQ * +ROWXV 0 0HW]HOWLQ H &K 6FKPLWW HGV /H[LNRQ GHU 5RPDQLVWLVFKHQ/LQJXLVWLN9RO9,7ELQJHQ1LHPH\HUSS

)217(6'26(;(03/26 $ 1RVD 7HUUD %ROHWtQ GHFHQDO ,GHDULXP GD +LUPDQGDGH GD )DOD HQ *DOLFLD H QDV FRORQLDV JDOOHJDVG $PpULFDH3RUWXJDO $&RUXxD %ODQFR'  $SRHVtDSRSXODUHQ*DOLFLD   YROV9LJR;HUDLV &DUEDOODO5  2WHVRXURDFRELOODGR$&RUXxD7HUUDD1RVD &DUEDOOR&DOHUR5  2VLOHQ]RD[LRQOODGR6DQWLDJRGH&RPSRVWHOD1yV &DVWUR 0 H / )UHLUH   *XtD GDVVHWDV RX FRJXPHORVFRPHVWLEOHV GH *DOLFLD 9LJR;HUDLV &XQTXHLUR$  2LQFHUWRVHxRUGRQ+DPOHW9LJR*DOD[LD 'tD])HUQiQGH];  &RQWRV0RQWHYLGHR3DWURQDWRGD&XOWXUD*DOHJD )HUQiQGH] GH OD 9HJD & H 5 3LxHLUR   ´$FUDUDFLyQV GRV WUDGXWRUHVµ LQ - 3RNRUQ\&DQFLRHLURGDSRHVtDFpOWLJD 6DQWLDJR%LEOLyILORV*DOOHJRV )HUUHLUR&(  /RQJDQRLWHGHSHGUD9LJR*DOD[LD )HUUHLUR&(  $IURQWHLUDLQILQGD9LJR&DVWUHORV *yPH]/HGR$  %RUUHDV0DGULG /DPD;  2VPRUDGRUHVGDQDGD9LJR*DOD[LD /RJRV%ROHWtQ&DWyOLFR0HQVXDO3RQWHYHGUD 0pQGH])HUUtQ;/  3HUFLYDOHRXWUDVKLVWRULDV9LJR*DOD[LD

/p[LFRGLDOHFWDOHHVWiQGDUOLWHUDULR 27tR0DUFRVGD3RUWHOD3DUUDIHRVFRSRERJDOOHJR 2XUHQVH 2WHUR3HGUD\R5  2HVWXGDQWH$&RUXxD1yV 2WHUR3HGUD\R5  +LVWRULDGH*DOL]D%XHQRV$LUHV1yV 3LxHLUR5  2OODGDVQRIXWXUR9LJR*DOD[LD 5HL%DOOHVWHURV$  /RDLUD9LJR*DOD[LD 5H[XUGLPHQWR%ROHWtQTXLQFHQDOÐUJDRGRVLQWHUHVHVPDULxiV %HWDQ]RV 5RGUtJXH]%DL[HUDV;  $QRVGHYLD[H9LJR;HUDLV 9DOFiUFHO;0  2VROORVGDVHQWLQHOD9LJR*DOD[LD



Lihat lebih banyak...

Comentarios

Copyright © 2017 DATOSPDF Inc.