/DVKHUUDPLHQWDV&RUUHFWDV\ODPRWLYDFLyQVRQ FODYHVSDUDHOp[LWRGHORVQHJRFLRV (OXVRHIHFWLYRGHODV KHUUDPLHQWDVGHWUDEDMRSXHGHQ KDFHUTXHVXQHJRFLRDGTXLHUD QLYHOHVGHLQJUHVRVMDPiV LPDJLQDGRV 9LVLyQ7UDYHOOHD\XGDUiDTXHVXQHJRFLRDGTXLHUDXQQLYHOVXSHULRU SURSRUFLRQiQGROHKHUUDPLHQWDVGH0DUNHWLQJHIHFWLYDVTXHDGHPiVGHD\XGDUOHD TXHVXQHJRFLRVHDH[LWRVROHJHQHUDQLQJUHVRV *DQH9ROXPHQGH1HJRFLR%9³%XVLQHVV9ROXPH´DODGTXLULUODVKHUUDPLHQWDV TXHFDPELDUiQVXYLGD &RQVWUX\H WXSURSLRVXHxR (VWH HPRFLRQDQWH '9' JUDEDGR HQ IRUPDWR GH DOWD GHILQLFLyQOHD\XGDUiDFRQVWUXLUVXSURSLRQHJRFLRWDQUiSLGR TXH XVWHG PLVPR VH VRUSUHQGHUi $SUHQGD FyPR SHUVRQDV FRPXQHV\FRUULHQWHVKDQFRQVHJXLGRDOFDQ]DUVXVVXHxRV 0XOWLPHGLD '9' 3UHVHQWDFLyQD %URFKXUHGHSURGXFWRV )RUPDV &'GHDXGLRVHPDQDO 6LVWHPDGH (QWUHQDPLHQWRVHPDQDO &RPSOHWR SURJUDPD GH HQWUHQDPLHQWR OH SHUPLWLUi UHFLELU VHPDQDOPHQWH XQ &' GH DXGLR FRQ ODV PHMRUHV FDSDFLWDFLRQHV &DSDFtWHVH PLHQWUDV FRQGXFH KDFH VXV ODERUHVHQHOKRJDURSUDFWLFDVXGHSRUWHIDYRULWR 0XOWLPHGLDGH 3UHVHQWDFLyQ (VWD HV OD KHUUDPLHQWD EiVLFD SDUD OD SUHVHQWDFLyQ GH QHJRFLRV&RPSDUWDFRQVXVSURVSHFWRVODVRSRUWXQLGDGHV\ ORVEHQHILFLRVTXHRIUHFH9LVLRQ7UDYHO&LHUUHYHQWDVFRQ PD\RUIUHFXHQFLD\VLpQWDVHRUJXOORVRGHWHQHUHOUHVSDOGR GH9LVLRQ7UDYHO 2ILFLQD 9LUWXDO $GPLQLVWUH\PDQHMHODLQIRUPDFLyQGHVXQHJRFLRGHPDQHUD HIHFWLYD\SURIHVLRQDO&RQVXOWHVXVFXHQWDVODVHQWUDGDVGH yUGHQHV ODV KLVWRULDV GH ODV JDQDQFLDV 5DVWUHH VXV SDTXHWHV \ UHFLED LQIRUPDFLyQ YLD HPDLO 0DQHMH VXV SURVSHFWRVDGPLQLVWUHVXVFDPSDxDV\PXFKRPiV .LWGH ,QLFLR &RPSOHWRNLWGHKHUUDPLHQWDVSDUDTXHLQLFLHVXQHJRFLRGH PDQHUDSURIHVLRQDO