Encuesta postelectoral del CIS en Baleares

Page 1

3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6 $9$1&( '( 5(68/7$'26 (VWXGLR Q 0D\R MXQLR


3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

$9$1&( '( 5(68/7$'26 ),&+$ 7e&1,&$ (VWXGLR Q 0D\R MXQLR


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

ÉPELWR &RPXQLGDG $XWyQRPD GH ,VODV %DOHDUHV 8QLYHUVR 3REODFLyQ FRQ GHUHFKR D YRWR HQ HOHFFLRQHV DXWRQyPLFDV \ UHVLGHQWH HQ OD &RPXQLGDG $XWyQRPD GH ODV ,VODV %DOHDUHV 7DPDxR GH OD PXHVWUD 'LVHxDGD HQWUHYLVWDV 5HDOL]DGD HQWUHYLVWDV $ILMDFLyQ 3URSRUFLRQDO 3RQGHUDFLyQ 1R SURFHGH 3XQWRV GH PXHVWUHR PXQLFLSLRV 3URFHGLPLHQWR GH PXHVWUHR 3ROLHWiSLFR HVWUDWLILFDGR SRU FRQJORPHUDGRV FRQ VHOHFFLyQ GH ODV XQLGDGHV SULPDULDV GH PXHVWUHR PXQLFLSLRV \ GH ODV XQLGDGHV VHFXQGDULDV VHFFLRQHV GH IRUPD DOHDWRULD SURSRUFLRQDO \ GH ODV XQLGDGHV ~OWLPDV LQGLYLGXRV SRU UXWDV DOHDWRULDV \ FXRWDV GH VH[R \ HGDG /RV HVWUDWRV VH KDQ IRUPDGR VHJ~Q HO WDPDxR GH KiELWDW GH ORV PXQLFLSLRV GLYLGLGR HQ FDWHJRUtDV PHQRU R LJXDO D KDELWDQWHV GH D GH D GH D GH D GH D \ PiV GH GH KDELWDQWHV /RV FXHVWLRQDULRV VH KDQ DSOLFDGR PHGLDQWH HQWUHYLVWD SHUVRQDO HQ ORV GRPLFLOLRV (UURU PXHVWUDO 3DUD XQ QLYHO GH FRQILDQ]D GHO GRV VLJPDV \ 3 4 HO HUURU UHDO HV GH SDUD HO FRQMXQWR GH OD PXHVWUD \ HQ HO VXSXHVWR GH PXHVWUHR DOHDWRULR VLPSOH )HFKD GH UHDOL]DFLyQ 'HO GH PD\R DO GH MXQLR GH


3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

$9$1&( '( 5(68/7$'26 ',675,%8&,21(6 0$5*,1$/(6 (VWXGLR Q 0D\R MXQLR


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

127$6 /RV DV HQWUHYLVWDGRUHV DV QR RIUHFHQ ODV RSFLRQHV GH UHVSXHVWD 12 /((5 SHUR ODV UHJLVWUDQ FXDQGR VRQ PHQFLRQDGDV HVSRQWiQHDPHQWH SRU ODV SHUVRQDV HQWUHYLVWDGDV (Q ODV SUHJXQWDV D D \ E VH KDQ LQFRUSRUDGR ORV SDUWLGRV FRQ UHSUHVHQWDFLyQ SDUODPHQWDULD DXWRQyPLFD \ R PXQLFLSDO \ DTXpOORV FX\DV PHQFLRQHV UHSUHVHQWDQ HO R PiV GH ODV UHVSXHVWDV HVSRQWiQHDV GH ODV SHUVRQDV HQWUHYLVWDGDV (Q ODV SUHJXQWDV \ D OD RSFLyQ $SROtWLFR D QR ILJXUD HQWUH ODV FDWHJRUtDV SUHHVWDEOHFLGDV HQ HO FXHVWLRQDULR (V UHVXOWDGR GH ODV UHVSXHVWDV HVSRQWiQHDV D OD FDWHJRUtD DELHUWD 2WUD ¢FXiO"


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD 3DUD FRPHQ]DU ¢FyPR FDOLILFDUtD 8G OD VLWXDFLyQ HFRQyPLFD DFWXDO GH ODV ,VODV %DOHDUHV" 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD ¢< OD VLWXDFLyQ HFRQyPLFD DFWXDO GH (VSDxD" 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD < HQ UHODFLyQ D OD VLWXDFLyQ SROtWLFD DFWXDO GH ODV ,VODV %DOHDUHV ¢FyPR OD FDOLILFDUtD 8G " 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD ¢< OD VLWXDFLyQ SROtWLFD DFWXDO GH (VSDxD" 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD ¢&yPR FDOLILFDUtD 8G OD ODERU TXH KD OOHYDGR D FDER GXUDQWH ORV ~OWLPRV FXDWUR DxRV HO *RYHUQ %DOHDU HQ FDGD XQR GH ORV VLJXLHQWHV WHPDV PX\ EXHQD EXHQD UHJXODU PDOD R PX\ PDOD" /D HGXFDFLyQ /D VDQLGDG /D YLYLHQGD /D FUHDFLyQ GH HPSOHR /D VHJXULGDG FLXGDGDQD /D LQPLJUDFLyQ /D SURWHFFLyQ GHO PHGLR DPELHQWH /DV LQIUDHVWUXFWXUDV FDUUHWHUDV IHUURFDUULOHV

0X\ EXHQD

%XHQD 5HJXODU

0DOD 0X\ PDOD

1 6 1 &

1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢< HQ JHQHUDO FyPR FDOLILFDUtD 8G OD DFWXDFLyQ GHO *RYHUQ %DOHDU HQ HVWRV ~OWLPRV FXDWUR DxRV PX\ EXHQD EXHQD UHJXODU PDOD R PX\ PDOD" 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD ¢< FUHH 8G TXH VL KXELHUD HVWDGR HO 362( HQ HO *RYHUQ %DOHDU GXUDQWH OD SDVDGD OHJLVODWXUD OR KXELHUD KHFKR PHMRU LJXDO R SHRU" 0HMRU ,JXDO 3HRU 1 6 1 & 1

3UHJXQWD &RPR 8G UHFRUGDUi HO SDVDGR GRPLQJR GH PD\R VH FHOHEUDURQ HOHFFLRQHV DXWRQyPLFDV HV GHFLU DO 3DUODPHQWR GH ODV ,VODV %DOHDUHV 3DUD HPSH]DU PH JXVWDUtD TXH PH GLMHUD FRQ TXp LQWHUpV KD VHJXLGR 8G OD FDPSDxD HOHFWRUDO &RQ PXFKR LQWHUpV &RQ EDVWDQWH LQWHUpV 12 /((5 1L FRQ PXFKR QL FRQ SRFR LQWHUpV &RQ SRFR LQWHUpV &RQ QLQJ~Q LQWHUpV 1 & 1

3UHJXQWD ¢0H SRGUtD GHFLU VL GH XQD PDQHUD JHQHUDO OR TXH KD YLVWR X RtGR GXUDQWH OD FDPSDxD HOHFWRUDO OH KD VHUYLGR D 8G PXFKR EDVWDQWH SRFR R QDGD SDUD " ,QIRUPDUVH VREUH ORV SURJUDPDV \ SURSXHVWDV GH FDGD SDUWLGR R FRDOLFLyQ &RQRFHU PHMRU D ORV DV FDQGLGDWRV DV 9HU ODV GLIHUHQFLDV TXH H[LVWHQ HQWUH XQRV SDUWLGRV \ RWURV 'HFLGLU VX YRWR

0XFKR %DVWDQWH

3RFR 1DGD 1 6 1 &

1

3UHJXQWD ¢3RGUtD GHFLUPH FRQ TXp IUHFXHQFLD KD VHJXLGR 8G OD LQIRUPDFLyQ SROtWLFD \ HOHFWRUDO GXUDQWH OD FDPSDxD D WUDYpV GH ORV SHULyGLFRV GH LQIRUPDFLyQ JHQHUDO" ¢< D WUDYpV GH OD WHOHYLVLyQ" ¢< D WUDYpV GH OD UDGLR" 3HULyGLFRV 7HOHYLVLyQ 5DGLR

7RGRV R FDVL WRGRV &XDWUR R FLQFR GtDV 'RV R WUHV GtDV SRU ORV GtDV SRU VHPDQD VHPDQD

6yOR ORV ILQHV GH VHPDQD

'H YH] HQ FXDQGR 1XQFD R FDVL QXQFD

1 &

1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢+D XWLOL]DGR ,QWHUQHW HQ ORV ~OWLPRV WUHV PHVHV" 1RV UHIHULPRV D DFFHGHU D ,QWHUQHW GHVGH FXDOTXLHU VLWLR \ FRQ FXDOTXLHU WLSR GH GLVSRVLWLYR RUGHQDGRU SHUVRQDO R SRUWiWLO WDEOHW R WHOpIRQR PyYLO 6t 1R 1 & 1

6Ð/2 $ 48,(1(6 +$1 87,/,=$'2 ,17(51(7 (1 /26 Ó/7,026 75(6 0(6(6 HQ 3

1

3UHJXQWD D ¢7LHQH 8G FXHQWD HQ DOJXQD GH ODV VLJXLHQWHV UHGHV VRFLDOHV" 5(638(67$ 0Ò/7,3/( 0$5&$5 72'$6 /$6 48( ',*$ /$ 3(5621$ (175(9,67$'$ )DFHERRN 7ZLWWHU 7XHQWL /LQNHG,Q 2WUDV UHGHV VRFLDOHV +L *RRJOH HWF

1LQJXQD 1 & 1

6Ð/2 $ 48,(1(6 +$1 87,/,=$'2 ,17(51(7 (1 /26 Ó/7,026 75(6 0(6(6 HQ 3

1

3UHJXQWD E ¢3RGUtD GHFLUPH VL VH KD LQIRUPDGR VREUH OD FDPSDxD R VREUH ODV HOHFFLRQHV D WUDYpV GH DOJXQR GH ORV VLJXLHQWHV VLWLRV GH ,QWHUQHW" 5(638(67$ 0Ò/7,3/( 0$5&$5 72'$6 /$6 48( ',*$ /$ 3(5621$ (175(9,67$'$ (Q SiJLQDV GH PHGLRV GH FRPXQLFDFLyQ SHULyGLFRV UDGLRV HWF

(Q SiJLQDV GH SDUWLGRV R FDQGLGDWRV DV (Q SiJLQDV GH RUJDQL]DFLRQHV FLXGDGDQDV R PRYLPLHQWRV FtYLFRV (Q EORJV \ IRURV GH GHEDWH (Q UHGHV VRFLDOHV )DFHERRN 7ZLWWHU

(Q RWUR WLSR GH SiJLQDV ZHE 1 & 1

3UHJXQWD ¢+DVWD TXp SXQWR ODV HOHFFLRQHV GHO GH PD\R KDQ VLGR WHPD GH FRQYHUVDFLyQ KDELWXDOPHQWH GH YH] HQ FXDQGR UDUD YH] QXQFD R FDVL QXQFD" (Q FDVD FRQ VX IDPLOLD &RQ VXV DPLJRV DV (Q VX FHQWUR GH WUDEDMR HVWXGLRV

+DELWXDOPHQWH

'H YH] HQ FXDQGR

5DUD YH]

1XQFD R FDVL QXQFD

1R SURFHGH

1 &

1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢0H SRGUtD GHFLU VL GXUDQWH OD SDVDGD FDPSDxD HOHFWRUDO 8G " 9LR SRU WHOHYLVLyQ DOJ~Q HVSDFLR GH SURSDJDQGD HOHFWRUDO GH DOJ~Q SDUWLGR R FRDOLFLyQ /H\y R HFKy XQ YLVWD]R D FDUWDV IROOHWRV R SURJUDPDV GH DOJ~Q SDUWLGR R FRDOLFLyQ &RQWULEX\y HFRQyPLFDPHQWH FRQ DOJ~Q SDUWLGR R FDQGLGDWR D 7UDEDMy FRPR YROXQWDULR D HQ OD FDPSDxD GH DOJ~Q SDUWLGR R FDQGLGDWR D $VLVWLy D XQ PLWLQ R UHXQLyQ GH DOJ~Q SDUWLGR 9LR HQWHUR R HQ SDUWH DOJ~Q GHEDWH HQ OD 79 HQWUH ORV DV FDQGLGDWRV DV (QYLy DOJ~Q PHQVDMH GH PyYLO 606 FRUUHR HOHFWUyQLFR SRVW WZHHW HWF VREUH ODV HOHFFLRQHV ,QWHQWy FRQYHQFHU D DOJXLHQ GH TXH GHEHUtD YRWDU SRU XQ GHWHUPLQDGR SDUWLGR

6t

1R

1 &

1

3UHJXQWD ¢< WXYR 8G FRQRFLPLHQWR GH ORV UHVXOWDGRV GH DOJXQD GH ODV HQFXHVWDV R VRQGHRV SUHHOHFWRUDOHV" 6t 1R 1 & 1

6Ð/2 $ 48,(1(6 789,(521 &212&,0,(172 '( /26 5(68/7$'26 '( $/*81$ (1&8(67$ 2 621'(2 35((/(&725$/ '( /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD D ¢< HQ TXp PHGLGD PXFKR EDVWDQWH SRFR R QDGD WXYR 8G HQ FXHQWD ORV UHVXOWDGRV GH HVDV HQFXHVWDV D OD KRUD GH GHFLGLU TXp LED D YRWDU" 0XFKR %DVWDQWH 3RFR 1DGD 1 6 1 & 1

6Ð/2 $ 48,(1(6 789,(521 &212&,0,(172 '( /26 5(68/7$'26 '( $/*81$ (1&8(67$ 2 621'(2 35((/(&725$/ '( /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( < /26 789,(521 08&+2 2 %$67$17( (1 &8(17$ (1 68 '(&,6,Ð1 HQ 3 \ y HQ 3 D

1

3UHJXQWD E ¢< HQ TXp VHQWLGR ORV WXYR HQ FXHQWD" /H DQLPDURQ D YRWDU /H DQLPDURQ D DEVWHQHUVH /H D\XGDURQ D GHFLGLU HO SDUWLGR SRU HO TXH LED D YRWDU 5HIRU]DURQ VX GHFLVLyQ GH YRWDU SRU HO SDUWLGR TXH SHQVDED /H DQLPDURQ D YRWDU SRU RWUR SDUWLGR GLVWLQWR GHO TXH WHQtD SHQVDGR 1 6 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD $QWH OD GHFLVLyQ GH YRWDU R QR \ SRU TXLpQ KDFHUOR HQ ODV SDVDGDV HOHFFLRQHV DXWRQyPLFDV ¢8G " 'XGy HQWUH YDULRV SDUWLGRV R FRDOLFLRQHV 'XGy HQWUH XQ SDUWLGR R FRDOLFLyQ \ OD DEVWHQFLyQ 'XGy HQWUH XQ SDUWLGR R FRDOLFLyQ \ YRWDU HQ EODQFR R QXOR 'XGy HQWUH YRWDU HQ EODQFR \ DEVWHQHUVH 7HQtD GHFLGLGR YRWDU SRU XQ SDUWLGR R FRDOLFLyQ 7HQtD GHFLGLGR YRWDU HQ EODQFR 7HQtD GHFLGLGR DEVWHQHUVH 1 & 1

6Ð/2 $ 48,(1(6 '8'$521 48e 927$5 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( y HQ 3

1

3UHJXQWD D ¢3RGUtD GHFLUPH HQWUH TXp GRV SDUWLGRV X RSFLRQHV GXGy 8G " 33 362( 33 3RGHPRV 33 &LXGDGDQRV 33 $EVWHQFLyQ 362( 3RGHPRV 362( &LXGDGDQRV 362( ,8 362( $EVWHQFLyQ 3RGHPRV &LXGDGDQRV 3RGHPRV ,8 3RGHPRV 83\' 3RGHPRV $EVWHQFLyQ &LXGDGDQRV 83\' &LXGDGDQRV (Q EODQFR &LXGDGDQRV $EVWHQFLyQ 83\' $EVWHQFLyQ 9RWR QXOR (Q EODQFR (Q EODQFR $EVWHQFLyQ 2WUDV UHVSXHVWDV 1 & 1

3UHJXQWD +D\ PXFKDV SHUVRQDV TXH QR SXHGHQ YRWDU SRU FXDOTXLHU UD]yQ R TXH SUHILHUHQ QR KDFHUOR (Q HO FDVR GH ODV HOHFFLRQHV DXWRQyPLFDV GHO SDVDGR GH PD\R ¢FXiO GH HVWDV DILUPDFLRQHV VH DMXVWD PiV D VX FDVR" 1R SXGR YRWDU 1R TXLVR LU D YRWDU 1RUPDOPHQWH YRWD SHUR HVWD YH] QR TXLVR KDFHUOR 1RUPDOPHQWH YRWD SHUR HVWD YH] QR SXGR 6t TXH YRWy 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 12 927$521 2 1 & (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( y 1 & HQ 3

1

3UHJXQWD D < HQ FDVR GH KDEHU YRWDGR ¢SRU TXp SDUWLGR R FRDOLFLyQ OR KDEUtD KHFKR" 5(638(67$ (63217È1($ 33 362( 3RGHPRV &LXGDGDQRV ,8 0(6 3, 2WUR 1LQJXQR 1 6 1 & 1

6Ð/2 $ 48,(1(6 12 48,6,(521 927$5 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( y HQ 3

1

3UHJXQWD E 6RQ YDULDV ODV UD]RQHV TXH SXHGHQ OOHYDU D XQD SHUVRQD D OD GHFLVLyQ GH QR YRWDU (Q VX FDVR ¢FXiO IXH OD UD]yQ SULQFLSDO TXH OH LPSXOVy D QR YRWDU HQ ODV SDVDGDV HOHFFLRQHV DXWRQyPLFDV GHO GH PD\R" ¢< HQ VHJXQGR OXJDU" 1R KDEtD QLQJXQD DOWHUQDWLYD TXH OH VDWLVILFLHUD (VWi KDUWR D GH SROtWLFD \ HOHFFLRQHV 'D OR PLVPR YRWDU TXH QR YRWDU QR VLUYH SDUD QDGD (VWDED GHVRULHQWDGR D QR VDEtD D TXLpQ YRWDU 1R OH LQVSLUDED FRQILDQ]D QLQJ~Q SDUWLGR QL QLQJ~Q D SROtWLFR D 3DUD PRVWUDU VX GHVFRQWHQWR /DV HOHFFLRQHV DXWRQyPLFDV VRQ SRFR LPSRUWDQWHV <D VDEtD TXLpQ LED D JDQDU VX YRWR QR KXELHUD VHUYLGR SDUD QDGD 12 /((5 2WUD UD]yQ 1 6 1 & 1

3ULPHU OXJDU

6HJXQGR OXJDU

6Ð/2 $ 48,(1(6 12 48,6,(521 927$5 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( y HQ 3

1

3UHJXQWD F ¢&XiQGR GHFLGLy 8G TXH QR LED D YRWDU" 1XQFD YRWD HQ HOHFFLRQHV DXWRQyPLFDV /R GHFLGLy KDFH EDVWDQWH WLHPSR /R GHFLGLy DQWHV GH OD FDPSDxD HOHFWRUDO /R GHFLGLy XQRV GtDV DQWHV GH ODV HOHFFLRQHV HQ SOHQD FDPSDxD HOHFWRUDO 'XGy HQWUH YRWDU \ QR YRWDU KDVWD HO ~OWLPR PRPHQWR 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 12 38',(521 927$5 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( y HQ 3

1

3UHJXQWD G ¢0H SRGUtD GHFLU FXiO GH ODV VLJXLHQWHV UD]RQHV OH LPSLGLy YRWDU" 1R HVWDED LQVFULWR D HQ HO FHQVR HOHFWRUDO 1R WHQtD VX '1, R SDVDSRUWH 1R VDEtD GyQGH WHQtD TXH LU D YRWDU 3RU PRWLYRV IDPLOLDUHV 3RU PRWLYRV GH VDOXG 3RU PRWLYRV GH WUDEDMR (VWDED DXVHQWH 12 /((5 2WUD UHVSXHVWD 1 & 1

6Ð/2 $ 48,(1(6 927$521 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD ¢&XiQGR GHFLGLy 8G YRWDU DO SDUWLGR R FRDOLFLyQ HOHFWRUDO DO TXH ILQDOPHQWH YRWy" /R WHQtD GHFLGLGR GHVGH KDFH EDVWDQWH WLHPSR DQWHV GHO LQLFLR GH OD FDPSDxD HOHFWRUDO

/R GHFLGLy GXUDQWH OD SULPHUD VHPDQD GH OD FDPSDxD HOHFWRUDO /R GHFLGLy GXUDQWH OD ~OWLPD VHPDQD GH OD FDPSDxD HOHFWRUDO /R GHFLGLy HO PLVPR GtD GH ODV HOHFFLRQHV 1 & 1

6Ð/2 $ 48,(1(6 927$521 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD D ¢3RGUtD GHFLUPH HO QRPEUH GHO SDUWLGR R FRDOLFLyQ SRU HO FXDO YRWy 8G HQ ODV HOHFFLRQHV DXWRQyPLFDV GHO SDVDGR GH PD\R" 5(638(67$ (63217È1($ 33 362( 3RGHPRV &LXGDGDQRV ,8 83\' 0(6 3, 3$&0$ 2WUR 9RWR QXOR (Q EODQFR 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 927$521 $ $/*Ó1 3$57,'2 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3 \ FLWDQ XQ SDUWLGR HQ 3 D

1

3UHJXQWD E ¢&XiO HV OD UD]yQ SULQFLSDO TXH OH KD OOHYDGR D YRWDU D HVD RSFLyQ SROtWLFD HQ HVWDV ~OWLPDV HOHFFLRQHV DO 3DUODPHQWR GH ODV ,VODV %DOHDUHV" (V OD IXHU]D SROtWLFD TXH PHMRU GHILHQGH ORV LQWHUHVHV GH %DOHDUHV (V TXLHQ PHMRU UHSUHVHQWD ODV LGHDV H LQWHUHVHV GH OD JHQWH FRPR 8G 3UHVHQWDED HO OD PHMRU FDQGLGDWR D (V OD IXHU]D SROtWLFD PiV FDSDFLWDGD SDUD JREHUQDU %DOHDUHV 6LHPSUH YRWD D HVWD RSFLyQ SROtWLFD 3RU VX DFWXDFLyQ SROtWLFD GXUDQWH ORV ~OWLPRV FXDWUR DxRV 3DUD HYLWDU TXH JDQDVH RWUD IXHU]D SROtWLFD 12 /((5 2WUD UHVSXHVWD 1 & 1

3UHJXQWD 6L KXELHUD VDELGR TXH ORV UHVXOWDGRV GH HVWDV HOHFFLRQHV LEDQ D VHU ORV TXH KDQ VLGR ¢8G " +DEUtD YRWDGR SRU HO PLVPR SDUWLGR R FRDOLFLyQ SRU HO TXH OR KL]R 6H KDEUtD DEVWHQLGR R KDEUtD YRWDGR HQ EODQFR +DEUtD YRWDGR SRU XQ SDUWLGR R FRDOLFLyQ GLVWLQWR DO TXH YRWy +DEUtD YRWDGR SRU XQ SDUWLGR R FRDOLFLyQ HQ YH] GH YRWDU HQ EODQFR R QXOR +DEUtD YRWDGR SRU XQ SDUWLGR R FRDOLFLyQ HQ YH] GH DEVWHQHUVH 1 & 1

3UHJXQWD &RPR 8G VDEUi QLQJXQD IXHU]D SROtWLFD DOFDQ]y OD PD\RUtD DEVROXWD HQ ODV HOHFFLRQHV DXWRQyPLFDV GHO SDVDGR GH PD\R 'H ODV VLJXLHQWHV DOWHUQDWLYDV SDUD IRUPDU *RELHUQR ¢FXiO HV OD TXH 8G SUHILHUH" 8Q *RELHUQR GHO 33 HQ VROLWDULR 8Q *RELHUQR GH FRDOLFLyQ GHO 33 \ 3, 8Q *RELHUQR GH FRDOLFLyQ GHO 33 \ &LXGDGDQRV 8Q *RELHUQR GH FRDOLFLyQ GHO 33 &LXGDGDQRV \ 3, 8Q *RELHUQR GH FRDOLFLyQ GHO 362( \ 3RGHPRV 8Q *RELHUQR GH FRDOLFLyQ GHO 362( 0(6 \ 3RGHPRV 12 /((5 2WUD DOWHUQDWLYD 1 6 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD (QWUH ORV WHPDV TXH ILJXUDQ HQ HVWD WDUMHWD ¢FXiO FUHH 8G TXH GHEHUtD VHU HO PiV LPSRUWDQWH SDUD HO QXHYR *RELHUQR GH ODV ,VODV %DOHDUHV" ¢< HQ VHJXQGR OXJDU" /D HGXFDFLyQ /D VDQLGDG /D YLYLHQGD /D FUHDFLyQ GH HPSOHR /D VHJXULGDG FLXGDGDQD /D LQPLJUDFLyQ /D SURWHFFLyQ GHO PHGLR DPELHQWH /DV LQIUDHVWUXFWXUDV FDUUHWHUDV IHUURFDUULOHV

12 /((5 2WURV 1 6 1 & 1

3ULPHU OXJDU

6HJXQGR OXJDU

3UHJXQWD ¢0H SRGUtD GHFLU VL HQ ODV HOHFFLRQHV JHQHUDOHV GH QRYLHPEUH GH 8G " )XH D YRWDU \ YRWy 1R WHQtD HGDG SDUD YRWDU )XH D YRWDU SHUR QR SXGR KDFHUOR 1R IXH D YRWDU SRUTXH QR SXGR 3UHILULy QR YRWDU 1R WHQtD GHUHFKR D YRWR 1R UHFXHUGD 1 & 1

6Ð/2 $ 48,(1(6 )8(521 $ 927$5 < 927$521 (1 /$6 (/(&&,21(6 *(1(5$/(6 '( HQ 3

1

3UHJXQWD D ¢< SRGUtD GHFLUPH D TXp SDUWLGR R FRDOLFLyQ YRWy" 5(638(67$ (63217È1($ 33 362( ,8 83\' 360 (QWHVD 2WUR (Q EODQFR 1R UHFXHUGD 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD /H DJUDGHFHUtD TXH PH LQGLFDUD VL FRQRFH D FDGD XQR D GH ORV DV VLJXLHQWHV OtGHUHV SROtWLFRV DV \ TXp YDORUDFLyQ OH PHUHFH VX DFWXDFLyQ SROtWLFD 3XQW~HORV DV GH D VDELHQGR TXH HO VLJQLILFD TXH OR D YDORUD PX\ PDO \ HO TXH OR D YDORUD PX\ ELHQ )UDQFLQD $UPHQJRO %LHO %DUFHOy -RVp 5DPyQ %DX]i -DXPH )RQW $OEHUWR -DUDER ;DYLHU 3HULFD\ 6LOYLD 7XU

9DORUD 0HGLD

)UDQFLQD $UPHQJRO %LHO %DUFHOy -RVp 5DPyQ %DX]i -DXPH )RQW $OEHUWR -DUDER ;DYLHU 3HULFD\ 6LOYLD 7XU

1R FRQRFH

1 6

'HVYLDFLyQ WtSLFD

1 &

1

1

3UHJXQWD 5HVSHFWR D ORV VLJXLHQWHV SDUWLGRV SROtWLFRV PH JXVWDUtD TXH PH GLMHUD VL VH HQFXHQWUD PX\ FHUFDQR FHUFDQR QL FHUFDQR QL GLVWDQWH GLVWDQWH R PX\ GLVWDQWH GH FDGD XQR GH HOORV 33 362( 3RGHPRV &LXGDGDQRV ,8 83\' 0(6 3, *[)

0X\ FHUFDQR

&HUFDQR 1L FHUFDQR QL GLVWDQWH

'LVWDQWH

0X\ GLVWDQWH

1 6 1 &

1

3 3 $ 3 % \ 3 12 6( $3/,&$1 (1 /$ ,6/$6 %$/($5(6 3UHJXQWD +DEODQGR DKRUD GH ODV HOHFFLRQHV PXQLFLSDOHV TXH WDPELpQ WXYLHURQ OXJDU HO SDVDGR GRPLQJR GH PD\R 8G 1R SXGR YRWDU 1R TXLVR LU D YRWDU 1RUPDOPHQWH YRWD SHUR HVWD YH] QR TXLVR KDFHUOR 1RUPDOPHQWH YRWD SHUR HVWD YH] QR SXGR 6t TXH YRWy 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 927$521 (1 /$6 (/(&&,21(6 081,&,3$/(6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD D ¢&XiQGR GHFLGLy 8G YRWDU DO SDUWLGR R FRDOLFLyQ HOHFWRUDO DO TXH ILQDOPHQWH YRWy" /R WHQtD GHFLGLGR GHVGH KDFH EDVWDQWH WLHPSR DQWHV GHO LQLFLR GH OD FDPSDxD HOHFWRUDO

/R GHFLGLy GXUDQWH OD SULPHUD VHPDQD GH OD FDPSDxD HOHFWRUDO /R GHFLGLy GXUDQWH OD ~OWLPD VHPDQD GH OD FDPSDxD HOHFWRUDO /R GHFLGLy HO PLVPR GtD GH ODV HOHFFLRQHV 1 & 1

6Ð/2 $ 48,(1(6 927$521 (1 /$6 (/(&&,21(6 081,&,3$/(6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD E ¢3RGUtD GHFLUPH HO QRPEUH GHO SDUWLGR R FRDOLFLyQ SRU HO FXDO YRWy 8G HQ ODV HOHFFLRQHV PXQLFLSDOHV GHO SDVDGR GRPLQJR GH PD\R" 5(638(67$ (63217È1($ 33 362( &LXGDGDQRV ,8 83\' 0(6 360 0pV SHU 0HQRUFD 0(6 $3,% 3, 6RP 3DOPD 6RPRV 3DOPD %/2&[) $3,% 2WUR 9RWR QXOR (Q EODQFR 1 & 1

3UHJXQWD ,QGtTXHPH SRU IDYRU ¢KDVWD TXp SXQWR HVWi 8G PX\ GH DFXHUGR GH DFXHUGR HQ GHVDFXHUGR R PX\ HQ GHVDFXHUGR FRQ FDGD XQD GH ODV VLJXLHQWHV IUDVHV" (VWp TXLHQ HVWp HQ HO SRGHU VLHPSUH EXVFD VXV LQWHUHVHV SHUVRQDOHV $ WUDYpV GHO YRWR OD JHQWH FRPR 8G SXHGH LQIOXLU HQ OR TXH SDVD HQ OD SROtWLFD /RV DV SROtWLFRV DV QR VH SUHRFXSDQ PXFKR GH OD JHQWH FRPR 8G (VWi PHMRU LQIRUPDGR D VREUH SROtWLFD TXH OD PD\RUtD GH OD JHQWH

0X\ GH DFXHUGR

'H DFXHUGR

(Q GHVDFXHUGR

0X\ HQ GHVDFXHUGR

1 6

1 &

1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢&RQ FXiO GH ODV VLJXLHQWHV IUDVHV VH LGHQWLILFD 8G HQ PD\RU PHGLGD" 6H VLHQWH ~QLFDPHQWH HVSDxRO D 6H VLHQWH PiV HVSDxRO D TXH EDOHDU 6H VLHQWH WDQ HVSDxRO D FRPR EDOHDU 6H VLHQWH PiV EDOHDU TXH HVSDxRO D 6H VLHQWH ~QLFDPHQWH EDOHDU 1 6 1 & 1

3UHJXQWD /H YR\ D SUHVHQWDU DKRUD DOJXQDV IyUPXODV DOWHUQDWLYDV GH RUJDQL]DFLyQ WHUULWRULDO GHO (VWDGR HQ (VSDxD 'tJDPH SRU IDYRU ¢FRQ FXiO HVWi 8G PiV GH DFXHUGR" 8Q (VWDGR FRQ XQ ~QLFR *RELHUQR FHQWUDO VLQ DXWRQRPtDV 8Q (VWDGR HQ HO TXH ODV FRPXQLGDGHV DXWyQRPDV WHQJDQ PHQRU DXWRQRPtD TXH HQ OD DFWXDOLGDG 8Q (VWDGR FRQ FRPXQLGDGHV DXWyQRPDV FRPR HQ OD DFWXDOLGDG 8Q (VWDGR HQ HO TXH ODV FRPXQLGDGHV DXWyQRPDV WHQJDQ PD\RU DXWRQRPtD TXH HQ OD DFWXDOLGDG 8Q (VWDGR HQ HO TXH VH UHFRQRFLHVH D ODV FRPXQLGDGHV DXWyQRPDV OD SRVLELOLGDG GH FRQYHUWLUVH HQ HVWDGRV LQGHSHQGLHQWHV 1 6 1 & 1

3UHJXQWD 0H JXVWDUtD TXH PH GLMHUD VL KD UHDOL]DGR HQ EDVWDQWHV RFDVLRQHV DOJXQD YH] R QXQFD ODV VLJXLHQWHV DFFLRQHV TXH OD JHQWH OOHYD D FDER SDUD GDU D FRQRFHU VX RSLQLyQ VREUH DOJ~Q SUREOHPD

$VLVWLU D XQD PDQLIHVWDFLyQ DXWRUL]DGD &RPSUDU R GHMDU GH FRPSUDU FLHUWRV SURGXFWRV SRU UD]RQHV SROtWLFDV pWLFDV R SDUD IDYRUHFHU HO PHGLR DPELHQWH 3DUWLFLSDU HQ XQD KXHOJD 2FXSDU HGLILFLRV SDUWLFLSDU HQ HQFLHUURV R EORTXHDU HO WUiILFR 3DUWLFLSDU HQ XQ IRUR R JUXSR GH GLVFXVLyQ SROtWLFD HQ ,QWHUQHW

(Q EDVWDQWHV RFDVLRQHV

$OJXQD YH]

1XQFD

1 &

1

3UHJXQWD ¢3HUWHQHFH D DOJXQD DVRFLDFLyQ \D VHD GHSRUWLYD VLQGLFDO SROtWLFD ODERUDO GH YHFLQRV $03$ R GH FXDOTXLHU RWUR WLSR" 6t 1R 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 3(57(1(&(1 $ $/*81$ $62&,$&,Ð1 HQ 3

1

3UHJXQWD D < HQ FRQFUHWR ¢HV PLHPEUR R HVWi DILOLDGR D D " 6t

8QD DVRFLDFLyQ GH YHFLQRV 8QD DVRFLDFLyQ R JUXSR MXYHQLO 8Q SDUWLGR SROtWLFR 8Q VLQGLFDWR 8QD DVRFLDFLyQ UHOLJLRVD R SDUURTXLDO 8QD RUJDQL]DFLyQ HPSUHVDULDO 8QD DVRFLDFLyQ R FROHJLR SURIHVLRQDO 8QD DVRFLDFLyQ FXOWXUDO R DUWtVWLFD 8QD DVRFLDFLyQ R JUXSR HFRORJLVWD 8QD DVRFLDFLyQ R FOXE GHSRUWLYR 8QD DVRFLDFLyQ GH PDGUHV \ SDGUHV 8QD DVRFLDFLyQ GH FRQVXPLGRUHV 8QD 21* R DVRFLDFLyQ GH VROLGDULGDG

1R

1 &

1

3UHJXQWD 'H ORV VLJXLHQWHV ¢TXp GRV VHQWLPLHQWRV OH LQVSLUD D 8G SULQFLSDOPHQWH OD SROtWLFD" (QWXVLDVPR ,QGLIHUHQFLD $EXUULPLHQWR 'HVFRQILDQ]D &RPSURPLVR ,UULWDFLyQ ,QWHUpV 1 6 1 & 1

3ULPHU VHQWLPLHQWR

6HJXQGR VHQWLPLHQWR

3UHJXQWD ¢&yPR VH GHILQLUtD 8G HQ SROtWLFD VHJ~Q OD VLJXLHQWH FODVLILFDFLyQ" &RQVHUYDGRU D 'HPyFUDWD FULVWLDQR D /LEHUDO 3URJUHVLVWD 6RFLDOGHPyFUDWD 6RFLDOLVWD &RPXQLVWD 1DFLRQDOLVWD )HPLQLVWD (FRORJLVWD 2WUD UHVSXHVWD $SROtWLFR D 1 6 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD D ¢< FRQ DOJXQD PiV" &RQVHUYDGRU D 'HPyFUDWD FULVWLDQR D /LEHUDO 3URJUHVLVWD 6RFLDOGHPyFUDWD 6RFLDOLVWD &RPXQLVWD 1DFLRQDOLVWD )HPLQLVWD (FRORJLVWD 2WUD UHVSXHVWD $SROtWLFR D 1 6 1 & 1

3UHJXQWD &XDQGR VH KDEOD GH SROtWLFD VH XWLOL]DQ QRUPDOPHQWH ODV H[SUHVLRQHV L]TXLHUGD \ GHUHFKD (Q HVWD WDUMHWD KD\ XQD VHULH GH FDVLOODV TXH YDQ GH L]TXLHUGD D GHUHFKD ¢(Q TXp FDVLOOD VH FRORFDUtD 8G " ,]TXLHUGD 'HUHFKD 1 6 1 & 1

0HGLD 'HVYLDFLyQ WtSLFD 1

3UHJXQWD < XWLOL]DQGR HVD PLVPD HVFDOD SRU IDYRU GtJDPH ¢GyQGH FRORFDUtD 8G D FDGD XQR GH ORV VLJXLHQWHV SDUWLGRV R IRUPDFLRQHV SROtWLFDV" 33 362( 3RGHPRV &LXGDGDQRV ,8 83\' 0(6 3, *[)

,]TXLHUGD

'HUHFKD

1 6 1 &

1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6 0HGLD 33 362( 3RGHPRV &LXGDGDQRV ,8 83\' 0(6 3, *[)

'HVYLDFLyQ WtSLFD

0D\R MXQLR

1

3UHJXQWD ¢0H SRGUtD GHFLU VL HQ ODV HOHFFLRQHV DXWRQyPLFDV GHO GH PD\R GH 8G " )XH D YRWDU \ YRWy 1R WHQtD HGDG SDUD YRWDU )XH D YRWDU SHUR QR SXGR KDFHUOR 1R IXH D YRWDU SRUTXH QR SXGR 3UHILULy QR YRWDU 1R WHQtD GHUHFKR D YRWR 1R UHFXHUGD 1 & 1

6Ð/2 $ 48,(1(6 )8(521 $ 927$5 < 927$521 (1 /$6 (/(&&,21(6 $8721Ð0,&$6 '( /$6 ,6/$6 %$/($5(6 '( HQ 3

1

3UHJXQWD D ¢< SRGUtD GHFLUPH D TXp SDUWLGR R FRDOLFLyQ YRWy" 5(638(67$ (63217È1($ 33 362( ,8 83\' 360 (QWHVD *[) 2WURV 9RWR QXOR (Q EODQFR 1R UHFXHUGD 1 & 1

3UHJXQWD 6H[R +RPEUH 0XMHU 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢&XiQWRV DxRV FXPSOLy 8G HQ VX ~OWLPR FXPSOHDxRV" 'H D DxRV 'H D DxRV 'H D DxRV 'H D DxRV 'H D DxRV \ PiV DxRV 1

3UHJXQWD $FWXDOPHQWH ¢HVWi YLYLHQGR " 6ROR D 6ROR D FRQ VX V KLMR D V FRQ R VLQ RWURV DV DVFHQGLHQWHV SDULHQWHV

&RQ VX FyQ\XJH R SDUHMD FRQ R VLQ RWURV DV DVFHQGLHQWHV SDULHQWHV

&RQ VX SDGUH \ R PDGUH FRQ R VLQ KHUPDQRV R KHUPDQDV FRQ R VLQ RWURV DV DVFHQGLHQWHV SDULHQWHV

2WUD VLWXDFLyQ 1 & 1

3UHJXQWD ¢$FWXDOPHQWH VH HQFXHQWUD 8G HQ DOJXQD GH ODV VLJXLHQWHV VLWXDFLRQHV" (VWi SDJDQGR XQD KLSRWHFD 3HUFLEH UHJXODUPHQWH XQD D\XGD HFRQyPLFD GH DOJ~Q *RELHUQR R $GPLQLVWUDFLyQ 3~EOLFD EHFDV HVFRODUHV D\XGD DO DOTXLOHU D\XGD SRU HO FXLGDGR GH SHUVRQDV GHSHQGLHQWHV D\XGD SRU KLMRV DV PHQRUHV D FDUJR HWF

7LHQH FRQWUDWDGR XQ VHJXUR PpGLFR SULYDGR

6t

1R

1 &

1

3UHJXQWD ¢&XiO HV VX HVWDGR FLYLO" &DVDGR D 6ROWHUR D 9LXGR D 6HSDUDGR D 'LYRUFLDGR D 1 & 1

3UHJXQWD ¢+D LGR 8G D OD HVFXHOD R FXUVDGR DOJ~Q WLSR GH HVWXGLRV" 1R HV DQDOIDEHWR D 1R SHUR VDEH OHHU \ HVFULELU 6t KD LGR D OD HVFXHOD 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 +$1 ,'2 $ /$ (6&8(/$ HQ 3

1

3UHJXQWD D ¢&XiOHV VRQ ORV HVWXGLRV GH PiV DOWR QLYHO RILFLDO TXH 8G KD FXUVDGR FRQ LQGHSHQGHQFLD GH TXH ORV KD\D WHUPLQDGR R QR " 0HQRV GH DxRV GH HVFRODUL]DFLyQ (GXFDFLyQ SULPDULD )3 JUDGR LQLFLDO (GXFDFLyQ VHFXQGDULD )3 GH JUDGR PHGLR %DFKLOOHUDWR )3 GH JUDGR VXSHULRU $UTXLWHFWXUD R LQJHQLHUtD WpFQLFDV 'LSORPDWXUD (VWXGLRV GH JUDGR (VWXGLRV GH OLFHQFLDWXUD $UTXLWHFWXUD R LQJHQLHUtD VXSHULRUHV 0iVWHU RILFLDO XQLYHUVLWDULR 'RFWRUDGR 7tWXORV SURSLRV GH SRVJUDGR 1

3UHJXQWD DD (678',26 6LQ HVWXGLRV 3ULPDULD 6HFXQGDULD HWDSD 6HFXQGDULD HWDSD ) 3 6XSHULRUHV 1

3UHJXQWD ¢&yPR VH GHILQH 8G HQ PDWHULD UHOLJLRVD FDWyOLFR D FUH\HQWH GH RWUD UHOLJLyQ QR FUH\HQWH R DWHR D" &DWyOLFR D &UH\HQWH GH RWUD UHOLJLyQ 1R FUH\HQWH $WHR D 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 6( '(),1(1 (1 0$7(5,$ 5(/,*,26$ &202 &$7Ð/,&26 $6 2 &5(<(17(6 '( 275$ 5(/,*,Ð1 y HQ 3

1

3UHJXQWD D ¢&RQ TXp IUHFXHQFLD DVLVWH 8G D PLVD X RWURV RILFLRV UHOLJLRVRV VLQ FRQWDU ODV RFDVLRQHV UHODFLRQDGDV FRQ FHUHPRQLDV GH WLSR VRFLDO SRU HMHPSOR ERGDV FRPXQLRQHV R IXQHUDOHV" &DVL QXQFD 9DULDV YHFHV DO DxR $OJXQD YH] DO PHV &DVL WRGRV ORV GRPLQJRV \ IHVWLYRV 9DULDV YHFHV D OD VHPDQD 1 & 1

3UHJXQWD ¢&yPR FDOLILFDUtD 8G VX VLWXDFLyQ HFRQyPLFD SHUVRQDO HQ HVWRV PRPHQWRV PX\ EXHQD EXHQD UHJXODU PDOD R PX\ PDOD" 0X\ EXHQD %XHQD 5HJXODU 0DOD 0X\ PDOD 1 6 1 & 1

3UHJXQWD ¢4XLpQ HV OD SHUVRQD TXH DSRUWD PiV LQJUHVRV DO KRJDU" /D SHUVRQD HQWUHYLVWDGD 2WUD SHUVRQD 12 /((5 /D SHUVRQD HQWUHYLVWDGD \ RWUD FDVL D SDUWHV LJXDOHV 1 & 1

3UHJXQWD ¢(Q FXiO GH ODV VLJXLHQWHV VLWXDFLRQHV VH HQFXHQWUD 8G DFWXDOPHQWH" 7UDEDMD -XELODGR D R SHQVLRQLVWD DQWHULRUPHQWH KD WUDEDMDGR

3HQVLRQLVWD DQWHULRUPHQWH QR KD WUDEDMDGR

3DUDGR D \ KD WUDEDMDGR DQWHV 3DUDGR D \ EXVFD VX SULPHU HPSOHR (VWXGLDQWH 7UDEDMR GRPpVWLFR QR UHPXQHUDGR 2WUD VLWXDFLyQ 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 75$%$-$1 HQ 3

1

3UHJXQWD D ¢3LHQVD 8G TXH HV PX\ SUREDEOH EDVWDQWH SRFR R QDGD SUREDEOH TXH GXUDQWH ORV SUy[LPRV GRFH PHVHV SLHUGD VX HPSOHR DFWXDO" 0X\ SUREDEOH %DVWDQWH SUREDEOH 3RFR SUREDEOH 1DGD SUREDEOH 1 6 1 & 1

6Ð/2 $ 48,(1(6 (67É1 3$5$'26 $6 < +$1 75$%$-$'2 $17(6 HQ 3

1

3UHJXQWD E ¢&XiQWR WLHPSR OOHYD HQ VLWXDFLyQ GH GHVHPSOHR" 0HQRV GH PHVHV (QWUH PHVHV \ DxR (QWUH \ DxRV (QWUH \ DxRV 0iV GH DxRV 1R UHFXHUGD 1 & 1

6Ð/2 $ 48,(1(6 (67É1 3$5$'26 $6 < +$1 75$%$-$'2 $17(6 HQ 3

1

3UHJXQWD F ¢5HFLEH 8G " /D SUHVWDFLyQ SRU GHVHPSOHR 2WUR WLSR GH VXEVLGLR SUHVWDFLyQ DVLVWHQFLDO SRU GHVHPSOHR UHQWD DFWLYD GH LQVHUFLyQ GH HXURV 3(5

1LQJ~Q WLSR GH SUHVWDFLyQ R VXEVLGLR SRU GHVHPSOHR 1 6 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 (67É1 3$5$'26 $6 y HQ 3

1

3UHJXQWD G ¢< FUHH 8G TXH HV PX\ SUREDEOH EDVWDQWH SRFR R QDGD SUREDEOH TXH GXUDQWH ORV SUy[LPRV GRFH PHVHV HQFXHQWUH 8G WUDEDMR" 0X\ SUREDEOH %DVWDQWH SUREDEOH 3RFR SUREDEOH 1DGD SUREDEOH 1 6 1 & 1

3UHJXQWD ¢< FXiO HV HUD VX DFWXDO ~OWLPD RFXSDFLyQ X RILFLR" (V GHFLU ¢HQ TXp FRQVLVWH WtD HVSHFtILFDPHQWH VX WUDEDMR" 'LUHFWRUHV DV \ JHUHQWHV 7pFQLFRV DV \ SURIHVLRQDOHV FLHQWtILFRV DV H LQWHOHFWXDOHV 7pFQLFRV DV SURIHVLRQDOHV GH DSR\R (PSOHDGRV DV FRQWDEOHV DGPLQLVWUDWLYRV DV \ RWURV HPSOHDGRV DV GH RILFLQD 7UDEDMDGRUHV DV GH ORV VHUYLFLRV GH UHVWDXUDFLyQ SHUVRQDOHV SURWHFFLyQ \ YHQGHGRUHV DV 7UDEDMDGRUHV DV FXDOLILFDGRV DV HQ HO VHFWRU DJUtFROD JDQDGHUR IRUHVWDO \ SHVTXHUR $UWHVDQRV DV \ WUDEDMDGRUHV DV FXDOLILFDGRV DV GH ODV LQGXVWULDV PDQXIDFWXUHUDV \ OD FRQVWUXFFLyQ H[FHSWR RSHUDGRUHV DV GH LQVWDODFLRQHV \ PDTXLQDULD 2SHUDGRUHV DV GH LQVWDODFLRQHV \ PDTXLQDULD \ PRQWDGRUHV DV 2FXSDFLRQHV HOHPHQWDOHV 2FXSDFLRQHV PLOLWDUHV 1 6 2FXSDFLyQ PDO HVSHFLILFDGD R LQVXILFLHQWH 1 & 1

3UHJXQWD ¢8G R OD SHUVRQD TXH DSRUWD PiV LQJUHVRV DO KRJDU WUDEDMD R WUDEDMDED FRPR " $VDODULDGR D ILMR D D VXHOGR FRPLVLyQ MRUQDO HWF FRQ FDUiFWHU ILMR

$VDODULDGR D HYHQWXDO R LQWHULQR D D VXHOGR FRPLVLyQ MRUQDO HWF FRQ FDUiFWHU WHPSRUDO R LQWHULQR

(PSUHVDULR D R SURIHVLRQDO FRQ DVDODULDGRV DV 3URIHVLRQDO R WUDEDMDGRU D DXWyQRPR D VLQ DVDODULDGRV DV

$\XGD IDPLOLDU VLQ UHPXQHUDFLyQ UHJODPHQWDGD HQ OD HPSUHVD R QHJRFLR GH XQ IDPLOLDU

0LHPEUR GH XQD FRRSHUDWLYD 2WUD VLWXDFLyQ 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 (67É1 $6$/$5,$'26 $6 y HQ 3

1

3UHJXQWD D ¢7UDEDMD ED 8G R OD SHUVRQD TXH DSRUWD PiV LQJUHVRV DO KRJDU HQ OD $GPLQLVWUDFLyQ 3~EOLFD HQ XQD HPSUHVD S~EOLFD HQ XQD HPSUHVD SULYDGD HQ XQD RUJDQL]DFLyQ SULYDGD VLQ ILQHV GH OXFUR R HQ HO VHUYLFLR GRPpVWLFR" $GPLQLVWUDFLyQ 3~EOLFD (PSUHVD S~EOLFD (PSUHVD SULYDGD 2UJDQL]DFLyQ VLQ ILQHV GH OXFUR 6HUYLFLR GRPpVWLFR 2WURV 1 & 1

3UHJXQWD ¢$ TXp DFWLYLGDG VH GHGLFD SULQFLSDOPHQWH OD HPSUHVD X RUJDQL]DFLyQ GRQGH 8G R OD SHUVRQD TXH DSRUWD PiV LQJUHVRV DO KRJDU WUDEDMD ED" $JULFXOWXUD ,QGXVWULD &RQVWUXFFLyQ 6HUYLFLRV 1 & 1

3UHJXQWD D &21',&,Ï1 62&,2(&21Ï0,&$ '(/ ,1( ,1$&7,926 'LUHFWRUHV DV \ SURIHVLRQDOHV 7pFQLFRV DV \ FXDGURV PHGLRV 3HTXHxRV DV HPSUHVDULRV DV $JULFXOWRUHV DV (PSOHDGRV DV GH RILFLQDV \ VHUYLFLRV 2EUHURV DV FXDOLILFDGRV DV 2EUHURV DV QR FXDOLILFDGRV DV -XELODGRV DV \ SHQVLRQLVWDV 3DUDGRV DV (VWXGLDQWHV 7UDEDMR GRPpVWLFR QR UHPXQHUDGR 1R FODVLILFDEOHV 1

3UHJXQWD E (67$786 62&,2(&21Ï0,&2 &ODVH DOWD PHGLD DOWD 1XHYDV FODVHV PHGLDV 9LHMDV FODVHV PHGLDV 2EUHURV DV FXDOLILFDGRV DV 2EUHURV DV QR FXDOLILFDGRV DV 1R FRQVWD 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD $FWXDOPHQWH HQWUH WRGRV ORV PLHPEURV GHO KRJDU LQFOXLGD OD SHUVRQD HQWUHYLVWDGD \ SRU WRGRV ORV FRQFHSWRV ¢GH FXiQWRV LQJUHVRV GLVSRQHQ SRU WpUPLQR PHGLR HQ VX KRJDU DO PHV GHVSXpV GH OD GHGXFFLyQ GH LPSXHVWRV R VHD LQJUHVRV QHWRV " 1R OH SLGR TXH PH LQGLTXH OD FDQWLGDG H[DFWD VLQR TXH PH VHxDOH HQ HVWD WDUMHWD HQ TXp WUDPR GH OD HVFDOD HVWiQ FRPSUHQGLGRV ORV LQJUHVRV GH VX KRJDU 1R WLHQHQ LQJUHVRV GH QLQJ~Q WLSR 0HQRV R LJXDO D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 0iV GH ʑ 1 & 1

3UHJXQWD ¢< HQ TXp WUDPR GH HVD PLVPD HVFDOD HVWiQ FRPSUHQGLGRV VXV LQJUHVRV SHUVRQDOHV GHVSXpV GH ODV GHGXFFLRQHV GH LPSXHVWRV HV GHFLU VXV LQJUHVRV QHWRV" 1R WLHQH LQJUHVRV GH QLQJ~Q WLSR 0HQRV R LJXDO D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 'H D ʑ 0iV GH ʑ 1 & 1

3UHJXQWD ¢$ TXp FODVH VRFLDO GLUtD 8G TXH SHUWHQHFH" $OWD 0HGLD DOWD 0HGLD PHGLD 0HGLD EDMD %DMD 1 6 1 & 1

3UHJXQWD ¢< WLHQH 8G OD QDFLRQDOLGDG HVSDxROD GHVGH TXH QDFLy R OD KD DGTXLULGR FRQ SRVWHULRULGDG" 'HVGH TXH QDFLy /D KD DGTXLULGR FRQ SRVWHULRULGDG 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

3UHJXQWD ¢(Q TXp SDtV KD QDFLGR 8G " (Q (VSDxD (Q RWUR SDtV 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 +$1 1$&,'2 (1 (63$f$ HQ 3

1

3UHJXQWD D ¢(Q TXp SURYLQFLD" $UDED ÈODYD $OEDFHWH $ODFDQW $OLFDQWH $OPHUtD $VWXULDV %DGDMR] ,OOHV %DOHDUV %DUFHORQD %XUJRV &iFHUHV &iGL] &DQWDEULD &LXGDG 5HDO &yUGRED &RUXxD $

&XHQFD *LURQD *UDQDGD *XDGDODMDUD +XHOYD -DpQ /HyQ /OHLGD /XJR 0DGULG 0iODJD 0XUFLD 1DYDUUD 2XUHQVH 3DOHQFLD 3DOPDV /DV

3RQWHYHGUD 5LRMD /D

6DODPDQFD 6HJRYLD 6HYLOOD 7ROHGR 9DOqQFLD 9DOHQFLD 9DOODGROLG %L]NDLD =DPRUD =DUDJR]D 1 & 1

3iJ


$*4

(VWXGLR Q 3267(/(&725$/ (/(&&,21(6 $8721Ï0,&$6 &2081,'$' $87Ï120$ '( /$6 ,6/$6 %$/($5(6

0D\R MXQLR

6Ð/2 $ 48,(1(6 12 +$1 1$&,'2 (1 (63$f$ HQ 3

1

3UHJXQWD E ¢&XiO" $XVWULD %pOJLFD 'LQDPDUFD )UDQFLD ,WDOLD 3RUWXJDO $OHPDQLD 5XVLD 0DUUXHFRV 1LJHULD 0p[LFR &XED 5HS~EOLFD 'RPLQLFDQD $UJHQWLQD %ROLYLD %UDVLO &RORPELD &KLOH (FXDGRU 3DUDJXD\ 3HU~ 8UXJXD\ 9HQH]XHOD 1

3UHJXQWD ¢'LVSRQHQ HQ VX YLYLHQGD GH WHOpIRQR ILMR" 6t 1R 1 & 1

3UHJXQWD ¢7LHQH 8G WHOpIRQR PyYLO" 6t XQD OtQHD 6t PiV GH XQD OtQHD 1R 1 & 1

3iJ


Turn static files into dynamic content formats.

Create a flipbook
Issuu converts static files into: digital portfolios, online yearbooks, online catalogs, digital photo albums and more. Sign up and create your flipbook.