Loading ...
Loading ...
Loading ...
(QWUHODSODFDGHFRFFLyQ\OD
SDUHGWUDVHUDGHEHGHMDUVHXQD
GLVWDQFLD PtQLPD GH  PP
HQWUHODSODFDGHFRFFLyQ\HO
PXHEOHYHUWLFDO RODVSDUHGHV
GHO ODWHUDO GHEH TXHGDU DO
PHQRVXQDVHSDUDFLyQGH
PP 6L VH LQVWDOD XQ PXHEOH
HQFLPDGHODSODFDGHFRFFLyQ
KDEUiTXHGHMDUXQDGLVWDQFLD
PtQLPDGHPP
&XDQGR YD\D D LQVWDODU XQD
FDPSDQDHQFLPDGHODSODFDGH
FRFFLyQFRQVXOWHORVUHTXLVLWRV
HVSHFtILFRVGHODFDPSDQDHQ
FXDOTXLHU FDVR OD GLVWDQFLD
HQWUHODSODFDGHFRFFLyQ\OD
FDPSDQD QR GHEHUtD VHU
LQIHULRUDPP

&Ï',*2'(352'8&727
3ODFDGHLGHQWLILFDFLyQVLWXDGDGHEDMRGHODFDUFDVDLQIHULRUGHOD
SODFDGHFRFFLyQ
$'9(57(1&,$6*(1(5$/(6
$OFRORFDUODPDUFDHQHVWHHOHFWURGRPpVWLFRJDUDQWL]DPRV
HOFXPSOLPLHQWRGHWRGRVORVUHTXLVLWRVDPELHQWDOHVVDQLWDULRV\GH
VHJXULGDG DSOLFDEOHV D HVWD FDWHJRUtD GH SURGXFWRV VHJ~Q OD
OHJLVODFLyQHXURSHD
3527(&&,Ï1'(/0(',2$0%,(17(
(VWHHOHFWURGRPpVWLFRWLHQHODPDUFDGHFRQIRUPLGDG
FRQOD'LUHFWLYDHXURSHD8(VREUHUHVLGXRV
GHDSDUDWRVHOpFWULFRV\HOHFWUyQLFRV5$((
/RV5$((FRQWLHQHQVXVWDQFLDVFRQWDPLQDQWHVTXH
SXHGHQWHQHUFRQVHFXHQFLDVQHJDWLYDVSDUDHOPHGLR
DPELHQWH \ FRPSRQHQWHV EiVLFRV TXH SXHGHQ
UHXWLOL]DUVH (V LPSRUWDQWH VRPHWHU ORV 5$(( D
SURFHGLPLHQWRVHVSHFtILFRVSDUDHOLPLQDU\GHVHFKDU
GHPDQHUDFRUUHFWDWRGRVORVFRQWDPLQDQWHVDGHPiVGHUHFXSHUDU
\UHFLFODUWRGRVORVPDWHULDOHV
7RGRV SHUVRQDOPHQWH VRPRV LPSRUWDQWHV FXDQGR VH WUDWD GH
JDUDQWL]DU TXH ORV 5$(( QR VH FRQYLHUWDQ HQ XQ SUREOHPD
DPELHQWDO 3DUD HVWR HV IXQGDPHQWDO UHVSHWDU DOJXQDV UHJODV
EiVLFDV
 /RV5$((QRGHEHQWUDWDUVHFRPRUHVLGXRVGRPpVWLFRV
 /RV 5$(( GHEHQ HQWUHJDUVH HQ ORV SXQWRV GH UHFRJLGD
SHUWLQHQWHV TXH JHVWLRQDQ ORV PXQLFLSLRV R ODV HPSUHVDV
DXWRUL]DGDV(QDOJXQRVSDtVHVH[LVWHXQVHUYLFLRGHUHFRJLGDGH
5$((GHJUDQWDPDxR
(QPXFKRVSDtVHVVHSXHGHHQWUHJDUHOHOHFWURGRPpVWLFRDQWLJXR
DOFRPSUDURWURQXHYRHQHOHVWDEOHFLPLHQWRTXHGHEHUiUHFRJHUOR
GH IRUPD JUDWXLWDVLHPSUH TXH VH WUDWH GHXQ HOHFWURGRPpVWLFR
HTXLYDOHQWH\TXHWHQJDODVPLVPDVIXQFLRQHVTXHHOVXPLQLVWUDGR
/D LQVWDODFLyQ GHO HOHFWURGRPpVWLFR HV XQD RSHUDFLyQ FRPSOLFDGD
TXH VL QR VH UHDOL]D GH PDQHUD FRUUHFWD SXHGH WHQHU JUDYHV
FRQVHFXHQFLDV HQ OD VHJXULGDG GH ORV DOLPHQWRV ORV ELHQHV
PDWHULDOHV R ODV SHUVRQDV 3RU HVWH PRWLYR HV FRPSHWHQFLD GH
SURIHVLRQDOHVFXDOLILFDGRVTXHGHEHQOOHYDUODDFDERFRQDUUHJORDORV
UHJODPHQWRVWpFQLFRV
6L VHLJQRUD HVWH FRQVHMR\ XQDSHUVRQD QR FXDOLILFDGDLQVWDOD HO
HOHFWURGRPpVWLFRHOIDEULFDQWHQRVHKDUiUHVSRQVDEOHGHORVIDOORV
WpFQLFRVTXHSXHGDSUHVHQWDUFRQLQGHSHQGHQFLDGHVLRFDVLRQDQR
QRGDxRVPDWHULDOHVROHVLRQHVDSHUVRQDVRDQLPDOHV
7UDVTXLWDUHOHPEDODMHDVHJ~UHVHGHTXHHOHOHFWURGRPpVWLFRQRHVWp
GDxDGRVLQRHVDVtSyQJDVHHQFRQWDFWRFRQHOHVWDEOHFLPLHQWRRHO
VHUYLFLRSRVYHQWDGHOIDEULFDQWH
$VHJ~UHVH GH TXH ORV PXHEOHV HQ ORV TXH VH LQVWDOH HO
HOHFWURGRPpVWLFR\GHPiVPRELOLDULRSUy[LPRVHDQGHPDWHULDOHV
TXHUHVLVWDQODVDOWDVWHPSHUDWXUDV&PtQ
$VLPLVPRVHUiSUHFLVRILMDUHOODPLQDGRSDUDGHFRUDFLyQFRQFRODGH
DOWDUHVLVWHQFLD
(O HOHFWURGRPpVWLFRSXHGH HPSRWUDUVH HQ XQ PXHEOH HQ HOPRGR
³HVWiQGDU´R³DUDV´
PP
PP
PP
PP


PP


0LQPP
3HUtPHWURGH
LQVWDODFLyQDUDV
1RWD /DV PHGLGDV GHO SHUtPHWUR LQWHUQR VRQ ODV PLVPDV HQ OD
LQVWDODFLyQHVWiQGDU
PPFPKRE


PP


PPFPKRE


3URIRQGLWjLQFDYRPP
3HUtPHWURGH
LQVWDODFLyQDUDV
/DHQFLPHUDHQODTXHVHLQVWDOHGHEHUiWHQHUXQJURVRUGHDPP
6LODSDUWHLQIHULRUGHODSODFDGHFRFFLyQHVDG\DFHQWHDXQD]RQD
QRUPDOPHQWHDFFHVLEOHGXUDQWHODVRSHUDFLRQHVGHPDQLSXODFLyQR
OLPSLH]DGHEHFRORFDUVHXQVHSDUDGRUPPSRUGHEDMRGHODSDUWH
LQIHULRUGHODSODFDGHFRFFLyQ
PLQPP
,167$/$&,Ï1
&XDQGRLQVWDOHXQKRUQREDMRODSODFDGHFRFFLyQQRVHQHFHVLWDUi
VHSDUDGRU\VHWHQGUiTXHGHMDUXQDGLVWDQFLDPtQLPDQRLQIHULRUD
PPHQWUHODSDUWHLQIHULRUGHODSODFDGHFRFFLyQ\HOKRUQR1RLQVWDOH
KRUQRVVLQHQIULDPLHQWR EDMRHVWDSODFDGHFRFFLyQ\ UHVSHWHORV
UHTXLVLWRVGHLQVWDODFLyQGHOKRUQRSDUDLQVWDODUOR

PP
PLQ
(6
Loading ...
Loading ...
Loading ...