$&(5&$'(/3$1(/'(9,68$/,=$&,Ð1'(3/$60$
5HWHQFLyQGHODLPDJHQGHOSDQHOGHYLVXDOL]DFLyQGHSODVPD
(VWDSDQHOGHYLVXDOL]DFLyQGHSODVPDWLHQHFDUDFWHUtVWLFDVTXHSXHGHQUHVXOWDUHQODUHWHQFLyQGHODLPDJHQ
GHSHQGLHQGRGHFyPRVHXWLOL]DODSDQWDOODGHSODVPD$FRQWLQXDFLyQVHHQXPHUDQORVFDVRVFRPXQHV\XVRV
HIHFWLYRVFRQUHVSHFWRDODUHWHQFLyQGHLPDJHQ
&DUDFWHUtVWLFDVGHODUHWHQFLyQGHLPDJHQ
/DUHWHQFLyQGHLPDJHQRFXUUHSRUHOGHWHULRURSDUFLDOGHOIyVIRURGHELGRDODYLVXDOL]DFLyQSDUFLDOGHFDUDFWHUHV\
¿JXUDV
Ŷ
3RUHMHPSORFXDQGRVHYLVXDOL]DQORVFDUDFWHUHVGHOD)LJ$
FRQWLQXDPHQWHGXUDQWHXQODUJRSHUtRGRGHWLHPSRVHGHWHULRUDQ
ORVIyVIRURVURMRVYHUGHVD]XOHVTXHYLVXDOL]DQORVFDUDFWHUHV
(QFRQVHFXHQFLDFXDQGRVHYLVXDOL]DXQDLPDJHQWRWDOPHQWH
EODQFDHQWRGDODSDQWDOODFRPRVHPXHVWUDHQOD)LJDODV
PDUFDVUHWHQLGDVSRUORVFDUDFWHUHVSURYRFDUiQGLIHUHQFLDVGH
FRORU2EVHUYHTXHHVRQRHVODUHWHQFLyQGHIyVIRURVTXHPDGRV
(OJUDGRGHUHWHQFLyQGHLPDJHQHVSURSRUFLRQDODOEULOOR\WLHPSR
GHYLVXDOL]DFLyQSDUDORVFDUDFWHUHV\R¿JXUDV
Ŷ
&XDQWRPiVEULOODQWHVORVFDUDFWHUHV\¿JXUDVPiVVH
GHWHULRUDUiHOIyVIRUR&RPRVHPXHVWUDHQOD)LJ%FXDQGR
VHYLVXDOL]DQLPiJHQHVTXHWLHQHQGLIHUHQWHEULOORGXUDQWHXQ
WLHPSRSURORQJDGROD)LJEPXHVWUDTXHFXDQWRPiVEULOODQWHOD
LPDJHQPiVODPLVPDWHQGHUiDSHUPDQHFHU
/DVLOXVWUDFLRQHVVRQLPiJHQHVSDUDH[SOLFDUODUHWHQFLyQGHLPDJHQ/DUHWHQFLyQUHDOGHLPDJHQSXHGHYDULDU
GHSHQGLHQGRGHFRQGLFLRQHVFRPRWLHPSRGHRSHUDFLyQ\EULOOR
0pWRGRSDUDUHGXFLUODUHWHQFLyQGHLPDJHQ
8WLOLFHODVIXQFLRQHV³&RUUHFWRU&RORU´R³&RQWUROGH,OXPLQDFLyQ´HQODSDQWDOODTXHHVWiQGLVSRQLEOHVHQHOPHQ~
)XQFLyQ&RQVXOWHODSiJLQD
'HVSXpVGHYLVXDOL]DUFLHUWDVLPiJHQHVFRPRXQDLPDJHQFRQJHODGDGXUDQWHXQWLHPSRSURORQJDGRVHSXHGH
XWLOL]DUODIXQFLyQ³&RUUHFWRU&RORU´SDUDUHGXFLUODUHWHQFLyQGHLPDJHQYLVXDOL]DQGRXQDSDQWDOODWRWDOPHQWHEODQFD
GXUDQWHDSUR[LPDGDPHQWHaKRUDV$GHPiVODIXQFLyQ³&RQWUROGH,OXPLQDFLyQ´IXQFLRQDFXDQGRVHYLVXDOL]DQ
LPiJHQHVFRPRORJRWLSRVGH79RLQGLFDFLRQHVGHUHORMHQORVFDQWRVGHODSDQWDOOD
8WLOLFHHQFRPELQDFLyQFRQLPiJHQHVHQPRYLPLHQWR
&RPRWRGDODSDQWDOODWLHQHXQDGHJUDGDFLyQUHODWLYDPHQWHXQLIRUPHGHOIyVIRURHQODVLPiJHQHVHQPRYLPLHQWRHVR
SXHGHHYLWDUODUHWHQFLyQGHLPDJHQSDUFLDO6HUHFRPLHQGDXWLOL]DUMXQWRFRQLPiJHQHVHQPRYLPLHQWRFRPRGH'9'
Ŷ
$FXpUGHVHTXHGHMDUODVLPiJHQHVHQHOPRGRGHLPiJHQHVGXUDQWHXQODUJRSHUtRGRGHWLHPSRSXHGHFDXVDU
ODUHWHQFLyQGHLPDJHQ
Ŷ
+D\DOJXQDVWUDQVPLVLRQHVGHWHOHYLVLyQTXHSUHVHQWDQLPiJHQHVFRUWDGDVHQVXVERUGHVL]TXLHUGRGHUHFKRR
VXSHULRULQIHULRU\TXHYLVXDOL]DQODLGHQWL¿FDFLyQGHODHVWDFLyQRXQUHORMGXUDQWHXQODUJRSHUtRGRGHWLHPSRHQ
ODPLVPDSRVLFLyQ7HQJDHQFXHQWDTXHHVRSXHGHFDXVDUODUHWHQFLyQGHLPDJHQ
Ŷ
6HSXHGHUHGXFLUODUHWHQFLyQGHLPDJHQPHGLDQWH³0RGR(&2´HQHOPHQ~)XQFLyQ
&DUDFWHUtVWLFDVFRPXQHVGHORVSDQHOHVGHYLVXDOL]DFLyQGHSODVPD
$FRQWLQXDFLyQVHGHVFULEHQODVFDUDFWHUtVWLFDVFRPXQHVGHORVSDQHOHVGHYLVXDOL]DFLyQGHSODVPDGHELGRD
UD]RQHVHVWUXFWXUDOHV
7HQJDHQFXHQWDTXHHVDVFDUDFWHUtVWLFDVQRLQGLFDQXQIDOORGHIXQFLRQDPLHQWR
,PDJHQUHVLGXDO
&XDQGRVHYLVXDOL]DXQDLPDJHQFRQJHODGDRPHQ~HQODSDQWDOODSRUXQFRUWRSHUtRGRGHWLHPSRDSUR[LPDGDPHQWH
XQPLQXWR\OXHJRVHFDPELDDRWUDLPDJHQSXHGHSHUPDQHFHUXQDLPDJHQUHVLGXDOHQODSDQWDOOD
/DLPDJHQUHVLGXDOGHVDSDUHFHUiQDWXUDOPHQWH
6XSHUÀFLHHQHOSDQHO
(OSDQHOGHSODVPDYLVXDOL]DLPiJHQHVJHQHUDQGRGHVFDUJDVLQWHUQDPHQWH(VRSRGUtDHOHYDUODWHPSHUDWXUDGHOD
VXSHU¿FLHGHODSDQWDOOD
$GHPiVWHQJDFXLGDGRHQQRSHUPLWLUFXDOTXLHULPSDFWRIXHUWHHQODVXSHU¿FLHGHODSDQWDOOD8QDIXHU]DDSOLFDGDDOD
VXSHU¿FLHSRGUtDGDxDUHOSDQHOGHSODVPDVHQVLWLYRD~QTXHHOPLVPRHVWpSURWHJLGRSRUXQ¿OWURGHYLGULRWHPSODGR
3t[HOHVGHIHFWXRVRVHQHOSDQHO
(OSDQHOGHYLVXDOL]DFLyQGHSODVPDVHPDQXIDFWXUDFRQXQDWHFQRORJtDGHDOWDSUHFLVLyQ6LQHPEDUJRSXHGHTXH
DOJXQRVSt[HOHVQRVHHQFLHQGDQTXHGHQPiVEULOODQWHVTXHRWURVRDSDUH]FDQHQFRORUHVGLIHUHQWHVHWF
>)LJ%@ >)LJE@
>)LJ$@ >)LJD@