&LWUXOLQDXQDPLQiFLGRQRHVHQFLDO
&XUVRGH0HGLFLQD1DWXUDO
1XHVWURFXUVRGHQDWXURSDWtDUHFRQRFLGRSRUHOHVWDGRORSRGUiUHDOL]DUHQXQDxRHQFyPRGRVSOD]RV\
FRQORVPHMRUHVSURIHVLRQDOHVGHOFDPSRGHODPHGLFLQDQDWXUDO
$KRUDSRUDOPHV\VLQLQWHUHVHVQLJDVWRVGHPDWULFXODFLyQ
&XUVRGH0HGLFLQD1DWXUDO&RPSUDUHQWLHQGD
&XUVRGH0HGLFLQD1DWXUDO0iVLQIR
&LWUXOLQD
/DFLWUXOLQDHVXQFRPSXHVWRELROyJLFRSUHVHQWHHQGLYHUVRVRUJDQLVPRV(VXQ
DPLQRiFLGRQRHVHQFLDO,QWHUYLQLHQWHHQHOFLFORGHODXUHD6HIRUPDSRU
WUDQVIHUHQFLDGHOJUXSRFDUEDPRLORSURYHQLHQWHGHODQKtGULGRGHOiFLGRIRVIyULFRDO
JUXSRGDPLQRGHODRUQLWLQD(OHQ]LPDRUQLWLQDWUDQVFDUEDPRLODVDHVWDPELpQ
PLWRFRQGULDO/DFLWUXOLQDGLIXQGHGHVGHODPLWRFRQGULDDOFLWRVROGRQGHFRQWLQ~DHO
UHVWRGHOFLFORGHODXUHD
KWWSZZZUGQDWWXUDOHVSODQWDV\QXWULHQWHVSDUDHORUJDQLVPRDPLQRDFLGRVFLWUXOLQD
&LWUXOLQDXQDPLQiFLGRQRHVHQFLDO
)XQFLRQHVTXHGHVHPSHxD
(VXQDVXVWDQFLDTXHWLHQH
ODFDSDFLGDGGHSURGXFLUXQUHODMDPLHQWRGHORVYDVRVFDSLODUHV$GHPiVDOVHUFRQYHUWLGDSRUHOPHWDEROLVPRHQXQDPLQRiFLGR
OODPDGRDUJLQLQDSURGXFHHIHFWRVEHQHILFLRVRVHQHOFRUD]yQHQHODSDUDWRFLUFXODWRULR\EHQHILFLDHOVLVWHPDLQPXQLWDULR
/DFLWUXOLQDWLHQHFRPRSULQFLSDOIXQFLyQDXPHQWDUORVQLYHOHVSODVPiWLFRVGHDUJLQLQDSHURVXLPSRUWDQFLDUDGLFDHQTXH
HOODHVFDSD]GHSURYRFDUDXPHQWRVLQFUHtEOHVGHHVWHDPLQRiFLGRHQHOSODVPDPXFKRPD\RUHVTXHVLVHWRPDVyOR
DUJLQLQDDLVODGDPHQWH6LVHKDFHXVRGHODODUJLQLQDFRQHOREMHWLYRGHDXPHQWDUVXSURGXFFLyQGH21y[LGRQtWULFRHV
PHMRUSHQVDUHQFRPELQDUFRQFLWUXOLQDTXHQRWLHQHULHVJRVSDUDHORUJDQLVPR
6XGpILFLWSXHGHSURYRFDU
(OVtQWRPDPiVFRP~QGHGHILFLHQFLDGHFLWUXOLQDHVODIDWLJD\GHELOLGDGVRVWHQLGDGHORVP~VFXORV$XQTXHHVWD
FRQGLFLyQSXHGHSURYHQLUGHRWURVIDFWRUHVHVLPSRUWDQWHDSOLFDUSUXHEDVGHGHILFLHQFLDGHFLWUXOLQDSDUDFRQWURODUORV
QLYHOHVGHYLWDPLQDHQVXFXHUSR)DWLJD\HVWUpVVRQORVSULQFLSDOHVREVWiFXORVHQHOORJURGHODVDOXG\ELHQHVWDU3RUOR
WDQWRSUXHEDGHGHILFLHQFLDGHFLWUXOLQDFRQVWDQWH\YLWDPLQDSUXHEDVKDUiVHJXURVTXHHVWiVHQHOFDPLQRFRUUHFWRSDUD
ODVDOXG\ELHQHVWDU
3UHFDXFLRQHV\'DWRVDWHQHUHQFXHQWD
&RPRXQDPLQRiFLGRTXHH[LVWHGHPDQHUDQDWXUDOVHFUHHTXHODFLWUXOLQDHVVHJXUD6LQHPEDUJRQRVHKDQ
HVWDEOHFLGRGRVLVPi[LPDVVHJXUDVHQQLxRVSHTXHxRVPXMHUHVHPEDUD]DGDVRHQODFWDQFLDRHQSHUVRQDVFRQ
HQIHUPHGDGKHSiWLFDRUHQDOVHYHUD
8QDIXHQWHH[yJHQDGHFLWUXOLQDHVODVDQGtDGRQGHHVWDVXVWDQFLDVHHQFXHQWUDGHIRUPDJHQHURVD
5HTXHULPLHQWRVGLDULRV
KWWSZZZUGQDWWXUDOHVSODQWDV\QXWULHQWHVSDUDHORUJDQLVPRDPLQRDFLGRVFLWUXOLQD
&LWUXOLQDXQDPLQiFLGRQRHVHQFLDO
8QDGRVLVWtSLFDGHFLWUXOLQDHVGHDJUDPRVDOGtD
$OLPHQWRVULFRVHQFLWUXOLQD
7DOHVFRPRFDUQHSHVFDGRKXHYRVOHFKHOHJXPEUHVVDQGLDPHOyQ\DOLPHQWRVULFRVHQSURWHtQDV7DPELpQKD\
FRPLGDGLIHUHQWHVVXSOHPHQWRVSDUDD\XGDUDFRUUHJLUODGHILFLHQFLDGHFLWUXOLQD(VLPSRUWDQWHWRPDUHQODDVLJQDFLyQ
GLDULDUHFRPHQGDGDGHFLWUXOLQDSDUDSUHYHQLUJUDYHGHILFLHQFLD
(QIHUPHGDGHVHQODVFXDOHVVXXVRSXHGHKDFHUVHDFRQVHMDEOH
(VWXGLRVPX\SUHOLPLQDUHVUHDOL]DGRVHQ)UDQFLDDILQDOHVGHORVDxRVGHLQVLQ~DQTXHODFLWUXOLQDSXHGHPHMRUDUOD
IXQFLyQPHQWDOHQSHUVRQDVFRQHQIHUPHGDGGH$O]KHLPHU\DGHPiVUHGXFLUODIDWLJDJHQHUDO\HOHVWUpV6LQHPEDUJR
HVWRVHVWXGLRVQRVHUHDOL]DURQDOQLYHOGHORVHVWiQGDUHVFLHQWtILFRVPRGHUQRV\QRVHOHVKDGDGRVHJXLPLHQWR
5HIHUHQFLD\%LEOLRJUDItD
%HQGDKDQ'0DWWHL-3*KDWWDV%HWDO&LWUXOOLQHPDODWHSURPRWHVDHURELFHQHUJ\SURGXFWLRQLQKXPDQH[HUFLVLQJ
PXVFOH%U-6SRUWV0HG
&DOOLV$0DJQDQGH%RUQLHU%6HUUDQR--HWDO$FWLYLW\RIFLWUXOOLQHPDODWHRQDFLGEDVHEDODQFHDQGEORRG
DPPRQLDDQGDPLQRDFLGOHYHOV6WXG\LQWKHDQLPDODQGLQPDQ$U]QHLPLWWHOIRUVFKXQJ
=XULFK0HGLFDO/DEV$EVWUDFWVDQGFOLQLFDOVWXGLHVFLWUXOOLQHPDODWH'LVSRQLEOHHQ
KWWSZZZ]XULFKODEVFRPLGBQR[W]KWP$FFHGLGRPD\R
+LFNQHU5&7DQQHU&-(YDQV&$HWDO/FLWUXOOLQHUHGXFHVWLPHWRH[KDXVWLRQDQGLQVXOLQUHVSRQVHWRDJUDGHG
H[HUFLVHWHVW
(WLTXHWDV$O]KHLPHUDPLQRiFLGRVSDUDHOFRUD]yQDPLQRiFLGRVSDUDHOVLVWHPDFLUFXODWRULRDPLQRiFLGRVSDUDHOVLVWHPD
LQPXQROyJLFRDPLQRiFLGRVSDUDHOVLVWHPDQHUYLRVRDUJLQLQD&DQVDQFLRFDUQHVFLWRVROFLWUXOLQDFRUD]yQ(VWUpV)DWLJD
FUyQLFDKXHYRVOiFWHRVOHJXPEUHVPHOyQPLWRFRQGULDRUQLWLQDSHVFDGRVSODVPDVDQJXtQHRSURWHtQDVVDQGLDVLVWHPD
KWWSZZZUGQDWWXUDOHVSODQWDV\QXWULHQWHVSDUDHORUJDQLVPRDPLQRDFLGRVFLWUXOLQD
&LWUXOLQDXQDPLQiFLGRQRHVHQFLDO
FLUFXODWRULR6LVWHPDLQPXQROyJLFRXUHD
UHVSXHVWDVD&LWUXOLQD
UGQDWWXUDOGLFH
GLFLHPEUHDODV
+RODEXHQRVGtDVPLFRQVHMRHVTXHVHWUDWHDOEHEHORDQWHVSRVLEOH\DTXHHQXQIXWXURSRGUtDWHQHUFRQVHFXHQFLDV
PX\JUDYHV
8Q&RUGLDO6DOXGR
PDU\GLFH
GLFLHPEUHDODV
%XHQRVGLDVWHQJRXQEHEHGHPHVHVHVWDEDMRGHFLWUXOLQDTXHWUDWDPLHQWRWHQJRTXHGDUOH\HQHOIXWXURTXH
FRPSOLFDFLRQHVWHQGULDVLQRORWUDWRDKRUD\FRQTXHHVSHFLDOLVWDWHQJRTXHKDFHUORDWHQGHUJUDFLDVGHVGH\D
DGPLQGLFH
MXQLRDODV
%XHQRVGtDV1RUEHUWRODFLWUXOLQDHVDPLQRiFLGRQRHVHQFLDOTXHDOPHQRVHQ(VSDxDSXHGHFRPSUDUORHQIDUPDFLDV\
DOJXQDVKHUERULVWHUtDV'HWRGDVIRUPDVLQGDJDQGRXQSRFRSRUODUHGKHHQFRQWUDGRYDULDVFDVDVTXHODVXPLQLVWUDQ
/HSRQJRHVWHHQODFHTXHOHOOHYDUiDXQDGHODVFDVDV
1RHVSUHFLVRUHFHWDPpGLFD
8QVDOXGRFRUGLDO
5H\HV5RGULJR
1DWXURSDWD
1RUEHUWR(VFREDUGLFH
MXQLRDODV
/DFLWUXOLQD"'RQGHVHFRPSUD"(QKHUERULVWHUtDVRIDUPDFLDV"FRPRVHSLGH"FRQUHFHWDVPpGLFDV"
KWWSZZZUGQDWWXUDOHVSODQWDV\QXWULHQWHVSDUDHORUJDQLVPRDPLQRDFLGRVFLWUXOLQD
&LWUXOLQDXQDPLQiFLGRQRHVHQFLDO
UGQDWWXUDOGLFH
MXQLRDODV
%XHQDVWDUGHV0DULRODGRVLVHVWDEOHFLGDGHFLWUXOLQDHVGHDJUDPRVGtD6tSXHGHFRPELQDUVHFRQRUQLWLQD3RU
VXSXHVWRHVWRHVVLQRKD\QLQJ~QSUREOHPDGHULxyQRGHKtJDGR
8QVDOXGRFRUGLDO
5H\HV5RGULJR
1DWXURSDWD
0DULRGLFH
MXQLRDODV
0HGLULMRD8GVSDUDVROLFLWDUOHLQIRUPDFLzQGHODFLWUXOLQDTXHGRVLVKD\TXHWRPDUSDUDXQDEXHQDHUHFFLzQ\VLVH
SXHGHFRPELQDUFRQRUQLWLQDJUDFLDVORVVDOXGRDWWH0DULR
KWWSZZZUGQDWWXUDOHVSODQWDV\QXWULHQWHVSDUDHORUJDQLVPRDPLQRDFLGRVFLWUXOLQD