Вы находитесь на странице: 1из 28



DESCRIPCIN BIBLIOGRFICA
SEGN LAS ISBD.
Esquemas bsicos
para el tcnico auxiliar
de biblioteca.






-RVp0DUtD*iOYH]&DUDEDOOR
EUDGRPLQ#RQRFRP
ZZZEUDGRPLQHVYJ













































6LYDVDFRSLDURGLVWULEXLU
HVWHDUFKLYRGHDOJXQDIRUPD
QRWHROYLGHVGHFLWDUODIXHQWH
GHGRQGHORKDVWRPDGR















































*/9(=&$5$%$//2-RVp0DUtD

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'HVTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDU
GHELEOLRWHFD>7H[WRLPSUHVR@-RVp0DUtD*iOYH]&DUDEDOOR(O3XHUWRGH6DQWD0DUtD
&iGL] VQ
SiJVFROFP

,6%1FDUHFH

%LEOLRWHFRQRPtD&RQFXUVRV\RSRVLFLRQHV,7tWXOR

  
5



QGLFHJHQHUDO

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

$&/$5$&,21(635(9,$6  
,38%/,&$&,21(60212*5),&$620212*5$)$6 
,,0$186&5,726  
,,,0$7(5,$/&$572*5),&2 
,90$7(5,$/(6*5),&26  
90$7(5,$/(6*5),&26352<(&7$%/(6 
9,06,&$,035(6$9,,*5$%$&,21(662125$6  
9,,*5$%$&,21(662125$6 
9,,,0,&52)250$6 
,;3(/&8/$6<9,'(2*5$%$&,21(6  
;$5&+,926'(25'(1$'25  
;,38%/,&$&,21(66(5,$'$6  


KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

$&/$5$&,21(635(9,$6

/DSUHVHQWHHVXQDSHTXHxDJXtDSDUDODFDWDORJDFLyQELEOLRJUiILFDGHWRGRWLSRGHPDWHULDOHVKDEL
WXDOHVHQELEOLRWHFDV

(QHVWHWUDEDMRVHUHFRJHQ~QLFDPHQWHHOHVTXHPDWLSRGHODILFKDFDWDORJUiILFDEiVLFDSDUDFDGDWL
SRGHPDWHULDODOJXQDVDQRWDFLRQHVDHVWHHVTXHPD\XQHMHPSOR\DUHDOL]DGRGHILFKDGHHVHPDWHULDO
/D GHVFULSFLyQ VH KD GHWDOODGR SDUD XQ QLYHO LQWHUPHGLR VHJXQGR QLYHO GH FDWDORJDFLyQ  \ HQ FRQVH
FXHQFLDHQORVHVTXHPDVORVHOHPHQWRVFRQVLGHUDGRVREOLJDWRULRVSDUDHVWHQLYHODSDUHFHQHQQHJULWD\
VXEUD\DGRVPLHQWUDVTXHORVRSWDWLYRVDSDUHFHQHQWLSRJUDItDQRUHVDOWDGD3RURWUDSDUWHVHXWLOL]DHO
VLJXLHQWHFyGLJRGHFRORUHVSDUDGLIHUHQFLDUODVGLVWLQWDViUHDVGHODGHVFULSFLyQELEOLRJUiILFD












UHDUHDGHWtWXOR\PHQFLyQGHUHVSRQVDELOLGDG

UHDUHDGHHGLFLyQ

UHDUHDGHGDWRVHVSHFtILFRVGHODFODVHGHGRFXPHQWR

UHDUHDGHSXEOLFDFLyQGLVWULEXFLyQHWF

UHDUHDGHGHVFULSFLyQItVLFD

UHDUHDGHVHULH

UHDUHDGHQRWDV

UHDUHDGHQ~PHURQRUPDOL]DGR\GHFRQGLFLRQHVGHDGTXLVLFLyQ


3RU~OWLPRHVWRVHVTXHPDVVHKDQHODERUDGRDSDUWLUGHODVLJXLHQWHELEOLRJUDItD

5HJODV GH &DWDORJDFLyQ (VSDxRODV (GLFLyQ QXHYDPHQWH UHYLVDGD 0DGULG 0LQLVWHULR GH (GXFDFLyQ
&XOWXUD\'HSRUWH%2(HGUHLPSU

5$026 )$-$5'2 &DUPHQ $5,=$ 58%,2 0DUtD \ 5(,1$ '( /$ 7255( 0DQXHOD 0DQXDO SUiFWLFR
GHFDWDORJDFLyQ*UDQDGD,PSUHGLVXU

7HPD  &DWDORJDFLyQ GH PDWHULDOHV HVSHFLDOHV HQ $$99 %LEOLRWHFRQRPtD >0DQXDO GH RSRVLFLR
QHV@0DGULG&H9H(VWXGLRVDGLVWDQFLDVDSiJV

3DUD PD\RUHV SUHFLVLRQHV WHQGUiV TXH DFXGLU D HOODV IXQGDPHQWDOPHQWH D ODV 5HJODV GH &DWDORJD
FLyQHYLGHQWHPHQWH

KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

,38%/,&$&,21(60212*5),&$6R0212*5$)$6




(1&$%(=$0,(172

6LJQDWXUD
7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXOR
WRSRJUiILFD SDUDOHORVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXOR0HQFLyQGH
UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG  0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGL
FLyQ PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD PHQ
FLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHV/XJDUGHSXEOLFDFLyQ\RGHGLVWULEXFLyQ
RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWULEXLGRU  RWURV QRPEUHV GH HGLWRU \R GLVWUL
EXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFDFLyQ\RGLV
WULEXFLyQ OXJDUGHLPSUHVLyQQRPEUHGHOLPSUHVRUIHFKDGHLPSUHVLyQ 

([WHQVLyQ \ GHVLJQDFLyQ HVSHFtILFD GH PDWHULDO LPSUHVR  LOXVWUDFLRQHV  GL


PHQVLRQHV  PDWHULDO DQHMR  7tWXOR SURSLR GH OD VHULH  7tWXORV SDUDOHORV GH OD
VHULHVXEWtWXORV\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHODVHULH0HQFLRQHV
GHUHVSRQVDELOLGDGUHODWLYDVDODVHULHRWUDVPHQFLRQHV,661GHODVHULHQ~PHURGH
VHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORVSDUDOHORVGHVXE
VHULHV\VHFFLRQHVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHVXEVH
ULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \ VHFFLRQHV  RWUDV
PHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\VHFFLRQHV  2WUD
VHULH 
1RWDV

,6%1 LQIRUPDFLyQDGLFLRQDO FRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR LQIRUPDFLyQDGL


FLRQDO 2WURV,6%1

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
 (Q FDVR GH HVSHFLILFDU OD GHVLJQDFLyQ JHQHUDO GH OD FODVH GH GRFXPHQWR HO WpUPLQR XWLOL]DGR VHUi
>7H[WRLPSUHVR@RELHQ>7H[WRHQEUDLOOH@SDUDODVSXEOLFDFLRQHVHQHVWHWLSRGHHVFULWXUD
 6L OD REUD FRQVWD GH XQ ~QLFR YROXPHQ VH KDFH FRQVWDU HO Q~PHUR GH SiJLQDV VL FRQVWD GH YDULRV
YRO~PHQHV OD H[WHQVLyQ VH HVSHFLILFDUi HQ WpUPLQRV GH YRO~PHQHV /DV LOXVWUDFLRQHV VH KDUiQ FRQVWDU
FRQODDEUHYLDWXUDLOSRGUiH[SUHVDUVHHOWLSRGHLOXVWUDFLyQGHTXHVHWUDWH/DVPHGLGDVVHH[SUHVDQ
HQFHQWtPHWURV FP FRQVLGHUDQGRODVIUDFFLRQHVGHFHQWtPHWURFRPRXQFHQWtPHWURFRPSOHWR
 /DV QRWDV SXHGHQ FRPSOHWDU OD LQIRUPDFLyQ GH ODV GLVWLQWDV iUHDV QR H[SUHVDGDV HQ VX PRPHQWR
GHEHQVHJXLUVLHPSUHHOPLVPRRUGHQTXHODViUHDVFRQODVTXHHVWpQUHODFLRQDGDV-XQWRDpVWDVSXH
GHQLQFOXLUVHDGHPiVQRWDVQRUHODFLRQDGDVFRQXQiUHDGHGHVFULSFLyQGHWHUPLQDGD(QHOFDVRGHOD
GHVFULSFLyQ GH SXEOLFDFLRQHV HQ YDULRV YRO~PHQHV SXHGH LQFOXLUVH XQD QRWD GH FRQWHQLGR PHGLDQWH OD
FXDO VH LQGLFD HO FRQWHQLGR GH OD SXEOLFDFLyQ FXDQGR pVWH QR KD VLGR VHxDODGR HQ ODV DQWHULRUHV iUHDV
SUHFHGLGRGHODH[SUHVLyQ&RQWLHQH



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR



1
-2<
XOL

-2<&(-DPHV  

8OLVHV>7H[WRLPSUHVR@-DPHV-R\FH>WUDGXFFLyQGH-RVp0DUtD9DOYHUGH@HG
%DUFHORQD6HL[%DUUDO
 

YROFP /LWHUDWXUD&RQWHPSRUiQHD6HL[%DUUDO,6%1\

7tWRULJLQDO8O\VVHV

,6%1     REUDFRPSOHWD 

,9DOYHUGH-RVp0DUtDWU,,7tWXOR,,,6HULH
  -R\FH-DPHV
5




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

,,0$186&5,726




(1&$%(=$0,(172

6LJQDWXUD
7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXOR
WRSRJUiILFD SDUDOHORVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXOR0HQFLyQGH
UHVSRQVDELOLGDGRWUDVPHQFLRQHVGHUHVSRQVDELOLGDG)HFKDGHOPDQXVFULWR
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHV
1RWDV

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8
5





$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0D
QXVFULWR@
/DGHVFULSFLyQGHPDQXVFULWRVFDUHFHGHODViUHDV HGLFLyQ  GDWRVHVSHFtILFRVGHODFODVHGHGRFX
PHQWR   VHULH  \  Q~PHUR QRUPDOL]DGR  (Q HO iUHD  SXEOLFDFLyQ\RGLVWULEXFLyQ SRURWURODGR
VyORVHFRQVLJQDUiODIHFKDFXDQGRHOPDQXVFULWRHVWpIHFKDGR
 /DV QRWDV PX\ YDULDGDV SXHGHQHVWDUUHIHULGDVHQHVWHRUGHQDODFODVHJpQHUR\IRUPDGHOPD
QXVFULWR DXWyJUDIR>HVFULWRSRUHODXWRU@PV>PDQXVFULWR@PVV>FROHFFLyQGHPDQXVFULWRV@PVILUPD
GR PHFDQRJUDILDGR >FRSLD HQ SDSHO FDUEyQ FRQ FRUUHFFLRQHV DXWyJUDIDV@ GLVFXUVR VRQHWR HQFXHVWD
GLDULR DSXQWHV SHUVRQDOHV FRUUHVSRQGHQFLD HWF  D OD OHQJXD \ WLSR GH HVFULWXUD DO WtWXOR SULQFLSDO
PHQWHGHGyQGHVHKDWRPDGRVLVHGLRXQWtWXORIDFWLFLRVHWUDQVFULEHQDOJXQDVSDODEUDVGHOFRPLHQ
]R DOOXJDUGHODHVFULWXUD\QRPEUHGHOFRSLVWDDODLOXVWUDFLyQDODSURFHGHQFLD\SRVHHGRUHVDOD
HQFXDGHUQDFLyQ\HVWDGRGHFRQVHUYDFLyQDODVHGLFLRQHVGHOWH[WR\UHIHUHQFLDVELEOLRJUiILFDVRDODV
QRWDVGHFRQWHQLGR &RQWLHQH 


KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR




$/)
JHQ

$/)2162;(/6$%,2

*HQHUDOH*UDQG(VWRULD>0DQXVFULWR@$OIRQVR;(O6DELR>@
K1XPJXDUGDV[FP

7tWXORV HQ URMR (VSDFLRV HQ EODQFR SDUD ODV LQLFLDOHV (QF HQ SHUJ YHUGH 7HMXHOR
+LVWRULDGHORV*HQWLOHV
)DOWDODKTXHFRQWHQtDGRVSUyORJRV\HOFRPHQWDULRGHOFDStWXOR,
'HOD%LEOLRWHFDGH)HOLSH9

+LVWRULDDQWLJXD,7tWXOR


5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

,,,0$7(5,$/&$572*5),&2



6LJQDWXUD

WRSRJUiILFD

(1&$%(=$0,(172
>7tWXORXQLIRUPH@

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG  0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHV0HQFLyQGHODHVFDODPHQFLyQ
GHODSUR\HFFLyQ PHQFLyQGHODVFRRUGHQDGDVPHQFLyQGHOHTXLQRFLR /XJDUGH
SXEOLFDFLyQ \R GH GLVWULEXFLyQ  RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWULEXLGRU 
RWURVQRPEUHVGHHGLWRU\RGLVWULEXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@
IHFKDGHSXEOLFDFLyQ\RGLVWULEXFLyQ OXJDUGHLPSUHVLyQQRPEUHGHOLPSUHVRUIHFKD
GHLPSUHVLyQ 

([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORV
SDUDOHORV GH OD VHULH  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH HO WtWXOR GH OD
VHULH  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD VHULH  RWUDV PHQFLRQHV ,661 GH OD
VHULHQ~PHURGHVHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORV
SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH
HO WtWXOR GH VXEVHULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \
VHFFLRQHVRWUDVPHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\
VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0D
WHULDOFDUWRJUiILFR@
 /D HVFDOD VH WUDQVFULEH VLHPSUH FRPR XQD IUDFFLyQ H[SUHVDGD HQ IRUPD GH UD]yQ PDWHPiWLFD SRU
HMHPSOR   /D SUR\HFFLyQ HV REOLJDWRULD ~QLFDPHQWH FXDQGR DSDUHFH HQ HO GRFXPHQWR (Q FDVR
GHTXHVHFLWHQODVFRRUGHQDGDVVHKDUiHQHOVLJXLHQWHRUGHQOtPLWHRHVWHGHOGRFXPHQWRFDUWRJUiILFR
ORQJLWXG  OtPLWH HVWH GHO GRFXPHQWR FDUWRJUiILFR ORQJLWXG  OtPLWH QRUWH GHO GRFXPHQWR FDUWRJUiILFR
ODWLWXG \OtPLWHVXUGHOGRFXPHQWRFDUWRJUiILFR ODWLWXG /DPHQFLyQGHOHTXLQRFFLRHVREOLJDWRULDVyOR
FXDQGRDSDUHFHHQHOGRFXPHQWRVHH[SUHVDSRUPHGLRGHXQDIHFKDSUHFHGLGDGHODDEUHYLDWXUD(T
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVDWODVEORTXHGLDJUDPDFDUWDDpUHDFDUWDQiXWLFDIRWRJUD
ItDDpUHDIRWRPDSDIRWRPRVDLFRFRQWURODGRIRWRPRVDLFRQRFRQWURODGRJORERPDSDPDSDDQDPyUILFR
PDSDFHOHVWHPDSDPXUDOPDSDHQUHOLHYHPDTXHWDRUWRIRWRPDSDSODQRSHUILOVHFFLyQYLVWDYLVWDD
YXHORGHSiMDUR6HDxDGLUiHOQ~PHURGHKRMDVTXHORFRPSRQH2WUDVFDUDFWHUtVWLFDVItVLFDVVLHVPD
QXVFULWR VH VHxDOD FRQ OD DEUHYLDWXUD PV VL HV D FRORU VH VHxDOD FRQ OD LQGLFDFLyQ FRO VH SXHGH
LQGLFDUHOVRSRUWHSXHGHLQGLFDUVHHOQ~PHURGHPDSDVGHXQDWODV3DUDODVGLPHQVLRQHVVHHVSHFLILFDUi
ODORQJLWXGSRUODDOWXUDRODORQJLWXGSRUODDQFKXUD\SRUODDOWXUDGHSHQGLHQGRGHVLHVXQGRFXPHQWR
GHGRVRWUHVGLPHQVLRQHV
(QHOiUHDGHQRWDVVHLQFOXLUiQODVTXHVHFRQVLGHUHQGHLQWHUpV\TXHKDJDQUHIHUHQFLDDODViUHDV
DQWHULRUHV\GHFRQWHQLGR &RQWLHQH 




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


(/
SOD

(/38(572'(6$17$0$5$$\XQWDPLHQWR3DWURQDWR0XQLFLSDOGH7XULVPR

3ODQRGH(O3XHUWRGH6DQWD0DUtD>0DWHULDOFDUWRJUiILFR@3DWURQDWR0XQLFLSDOGH7X
ULVPR GH (O 3XHUWR GH 6DQWD 0DUtD  FD   'RV +HUPDQDV 6HYLOOD   3XEOLPDUN
:LHWRU
SODQRFRO[FP

(O3XHUWRGH6DQWD0DUtD3ODQRV,7tWXOR

 (O3XHUWRGH6DQWD0DUtD  

5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

,90$7(5,$/(6*5),&26



6LJQDWXUD

(1&$%(=$0,(172

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
WRSRJUiILFD UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG  0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQ GH HGLFLyQ DGLFLRQDO  RWUDV PHQFLRQHV  /XJDU GH SXEOLFDFLyQ \R GH
GLVWULEXFLyQRWURVOXJDUHVQRPEUHGHOHGLWRU\RGLVWULEXLGRURWURVQRPEUHVGHHGL
WRU\RGLVWULEXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFD
FLyQ\RGLVWULEXFLyQ OXJDUGHIDEULFDFLyQQRPEUHGHOIDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORV
SDUDOHORV GH OD VHULH  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH HO WtWXOR GH OD
VHULH  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD VHULH  RWUDV PHQFLRQHV ,661 GH OD
VHULHQ~PHURGHVHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORV
SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH
HO WtWXOR GH VXEVHULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \
VHFFLRQHVRWUDVPHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\
VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0D
WHULDOJUiILFR@
6HLQGLFDUi HOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVFROODJHGLEXMRGLEXMRWpFQLFRHVWDPSDIRWRJUDItDOiPLQD
QHJDWLYRIRWRJUiILFRSLQWXUD$XQTXHODVGLPHQVLRQHVSXHGHQYDULDUVHVHxDODUiQODVGLPHQVLRQHVGDQ
GRODDOWXUD VLHPSUHHQSULPHUOXJDU SRUODDQFKXUD
 $GHPiV GH ODV QRWDV UHODFLRQDGDV FRQ ODV iUHDV DQWHULRUHV HQWUH ODV QRWDV QR UHODFLRQDGDV FRQ XQ
iUHDGHWHUPLQDGDSXHGHQVHxDODUVHODVQRWDVGHFRQWHQLGR &RQWLHQH RODVQRWDVGHIXHQWHV VHKDFH
FRQVWDUODVIXHQWHVHQODVTXHDSDUH]FDQODVGHVFULSFLRQHVPiVFRPSOHWDVGHXQDREUDRFROHFFLyQ 'H
IRUPDRSFLRQDOSXHGHLQFOXLUVHXQDGHVFULSFLyQGHODREUD\QRWDVGHSURFHGHQFLD\RULJHQ




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


$0$
DOW

$05,&$)HUQDQGRGH  

$OWR'HYD *XLS~]FRD >0DWHULDOJUiILFR@)HUQDQGRGH$PiULFD

SLQWXUDFROyOHRVREUHWHOD[FP

)LUPDHQHOiQJXORLQIHULRUGHUHFKR 5HIHUHQFLD(OSLQWRU)HUQDQGR$PiULFD-RVp
&RUUHGRU0DWKHRV\3DORPD$SHOOiQL]9LWRULD*RELHUQR9DVFR

3DLVDMHYDVFRFRQXQSULPHUSODQRGHFDVDVDOGHDQDV$OIRQGRDOWDVPRQWDxDVHQYXHO
WDVHQOLJHUDQHEOLQD
3URSLHGDGGHOD)XQGDFLyQ$PiULFD 9LWRULD 

3LQWXUDGHSDLVDMH3LQWXUDDOyOHR,7tWXOR
$PiULFD2EUDVGH$PiULFD

5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

90$7(5,$/(6*5),&26352<(&7$%/(6




6LJQDWXUD

(1&$%(=$0,(172

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
WRSRJUiILFD UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG    0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHVUHDGHGDWRVHVSHFtILFRVGHOD
FODVH GH PDWHULDO  /XJDU GH SXEOLFDFLyQ \RGHGLVWULEXFLyQRWURVOXJDUHV QRP
EUHGHOHGLWRU\RGLVWULEXLGRURWURVQRPEUHVGHHGLWRU\RGLVWULEXLGRU>PHQFLyQGHOD
IXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFDFLyQ\RGLVWULEXFLyQ OXJDUGHIDEUL
FDFLyQQRPEUHGHOIDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORV
SDUDOHORV GH OD VHULH  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH HO WtWXOR GH OD
VHULH  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD VHULH  RWUDV PHQFLRQHV ,661 GH OD
VHULHQ~PHURGHVHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORV
SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH
HO WtWXOR GH VXEVHULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \
VHFFLRQHVRWUDVPHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\
VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0D
WHULDOJUiILFRSUR\HFWDEOH@
(OiUHDGHGDWRVHVSHFtILFRVVyORVHFRQVLJQDUiFXDQGRVHHGLWDQFRPRPDWHULDOSUR\HFWDEOHPDWHULDOHV
HQ FX\D GHVFULSFLyQ VHD REOLJDGD HVWD iUHD PDWHULDO FDUWRJUiILFR P~VLFD LPSUHVD HWF  6H DSOLFDUiQ
HQWRQFHVODVUHJODVHVWDEOHFLGDVSDUDHVWRVPDWHULDOHV
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVGLDSRVLWLYDHVWHUHRJUDItDILOPLQDUDGLRJUDItDWUDQVSDUHQ
FLDORVWpUPLQRVHVWHUHRJUDItD\ILOPLQDLUiQDFRPSDxDGRVGHODSDODEUDFDUUHWHRFDUWXFKRFXDQ
GRVHDDSURSLDGD(QHOFDVRGHGLDSRVLWLYDV\ILOPLQDVVHKDUiPHQFLyQGHOVRQLGRFXDQGRHVWpLQWHJUD
GR(QHOFDVRGHGLDSRVLWLYDVVHDxDGLUiDODDEUHYLDWXUDVRQHOVLVWHPDGHVRQLGRHQWUHSDUpQWHVLV
6HLQGLFDUiWDPELpQVLODGLDSRVLWLYDRILOPLQDHVWiQSURGXFLGDVHQFRORUPHGLDQWHODDEUHYLDWXUDFRO
(QFXDQWRDODVGLPHQVLRQHVVHFRQVLJQDUiHODOWRSRUHODQFKRHQFHQWtPHWURVHQHOFDVRGHODVILOPL
QDVVHLQGLFDUiHODQFKRGHODSHOtFXODHQPLOtPHWURV\HQHOFDVRGHODVHVWHUHRJUDItDVQRVHFRQVLJQD
UiQGLPHQVLRQHV
$GHPiVGHRWUDVQRWDVHQWUHODVQRWDVQRUHODFLRQDGDVFRQODViUHDVGHGHVFULSFLyQGHVWDFDQQRWDV
VREUHODVSHUVRQDVDODVTXHVHGHGLFDHOPDWHULDOQRWDVVREUHRWURVIRUPDWRVHQORVTXHHOGRFXPHQWR
HVWp GLVSRQLEOH QRWDV GH VXPDULR R UHVXPHQ GHO FRQWHQLGR 6XPDULR  QRWDV VREUH Q~PHURV GH
LGHQWLILFDFLyQ GLVWLQWRV GHO ,6%1 \ QRWDV UHIHUHQWHV DO HMHPSODU VL HVWi GHWHULRUDGR VL IDOWD SDUWH GHO
PDWHULDOHWF 




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


5,&
PDU

5,&$57,JQDVL

/DPDULSRVD>0DWHULDOJUiILFRSUR\HFWDEOH@WH[WRGH,JQDVL5LFDUWGLEXMRV-0DQXHO
/ySH]P~VLFD)UDQFHVF%DOOHVWHU%DUFHORQD&ODUHW
GLDSRVLWLYDVVRQFROFDVHWHOLEURJXtD $SUHQGHUMXJDQGR 

(OWH[WRHVWiLQVSLUDGRHQXQSDVDMHGHODQRYHODGH1LNRV.D]DQ]DNLV=RUEDHO*ULHJR
'HVWLQDGRDDOXPQRVGH3UHHVFRODU6XPDULR(VWXGLDGHIRUPDHVTXHPiWLFD\DGDSWD
GDDORVSHTXHxRVHOFLFORGHWUDQVIRUPDFLyQGHODPDULSRVD
,6%1

,/ySH]-0DQXHOGLE,,%DOOHVWHU)UDQFHVFP~V,,,7tWXOR,96HULH
  
5







KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

9,06,&$,035(6$




6LJQDWXUD

(1&$%(=$0,(172

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
WRSRJUiILFD UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG    0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHV0HQFLyQHVSHFtILFDGHOIRUPDWR
GH P~VLFD LPSUHVD  0HQFLyQ SDUDOHOD GHO IRUPDWR GH P~VLFD LPSUHVD  /XJDU GH
SXEOLFDFLyQ \R GH GLVWULEXFLyQ  RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWULEXLGRU 
RWURVQRPEUHVGHHGLWRU\RGLVWULEXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@
IHFKDGHSXEOLFDFLyQ\RGLVWULEXFLyQ OXJDUGHLPSUHVLyQQRPEUHGHOLPSUHVRUIHFKD
GHLPSUHVLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOLOXVWUDFLRQHVGLPHQVLRQHV
PDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORVSDUDOHORVGHODVHULHVXEWtWX
OR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHODVHULH0HQFLRQHVGHUHVSRQVDELOL
GDGUHODWLYDVDODVHULHRWUDVPHQFLRQHV,661GHODVHULHQ~PHURGHVHULH'HVLJ
QDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORVSDUDOHORVGHVXEVHULHV\VHF
FLRQHVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHVXEVHULHV\VHFFLRQHV
0HQFLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDVXEVHULHV\VHFFLRQHVRWUDVPHQFLRQHV,661
GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\VHFFLRQHV  2WUDVHULH 
1RWDV

1~PHURQRUPDOL]DGRRVXHTXLYDOHQWH 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ
\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0~
VLFDLPSUHVD@
 6L QR DSDUHFH HQ OD SXEOLFDFLyQ XQD PHQFLyQ HVSHFtILFD GHO IRUPDWR GH P~VLFD LPSUHVD VH SXHGH
DxDGLUHQWUHFRUFKHWHVXQDPHQFLyQHQODOHQJXD\RHVFULWXUDGHODIXHQWHSULQFLSDOGHLQIRUPDFLyQR
GHOFHQWURFDWDORJDGRU
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDO GH XQR GH ORV VLJXLHQWHV WpUPLQRV SDUWLWXUD SDUWLWXUD DEUHYLDGD JXLyQ SDUWLWXUD GH HVWXGLR
SDUWH GH SLDQR GLUHFWRU YLROtQ GLUHFWRU HWF SDUWLWXUD YRFDO UHGXFFLyQ SDUD SLDQR SDUWHV 6H DxDGLUi
HQWUHSDUpQWHVLVHOQ~PHURGHSiJLQDVKRMDVRYRO~PHQHV
-XQWRDRWUDVQRWDVVHSRGUiQDxDGLUDGHPiVQRWDVUHODFLRQDGDVFRQODIHFKDGHFRPSRVLFLyQRGH
HVWUHQRODGXUDFLyQODQRWDFLyQ SRUHMHPSOR&LIUDGRSDUDJXLWDUUD RQRWDVUHIHUHQWHVDOHMHPSODU






KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


&$/
WUL

&$/920$1=$120DUtD5RVD  

7UtSWLFRGH1DYLGDGSDUDVHLVDUSDV>0~VLFDLPSUHVD@0DUtD5RVD&DOYR0DQ]DQR
>3DUWLWXUDSDUDVHLVDUSDV@0DGULG8QLyQ0XVLFDO(VSDxROD'/
SDUWLWXUD S FP

&RQWLHQH0DUFKDGHORV5H\HV0DJRV(O3RUWDOLWR&XHQWRGH1DYLGDG
1SOPHWiOLFD

0~VLFDSDUDDUSD,7tWXOR


5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

9,,*5$%$&,21(662125$6




(1&$%(=$0,(172

6LJQDWXUD
>7tWXORXQLIRUPH@
WRSRJUiILFD
7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXOR$XWRURWUR
DXWRUDXWRUVHFXQGDULR0HQFLyQGHHGLFLyQ PHQFLyQGHHGLFLyQSDUDOHOD0HQ
FLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDODHGLFLyQPHQFLyQGHHGLFLyQDGLFLRQDO0HQ
FLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDXQDPHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHV
 /XJDU GH SXEOLFDFLyQ \R GH GLVWULEXFLyQ  RWURV OXJDUHV  QRPEUH GHO HGLWRU \R
GLVWULEXLGRURWURVQRPEUHVGHHGLWRU\RGLVWULEXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\R
GLVWULEXLGRU@ IHFKD GH SXEOLFDFLyQ \R GLVWULEXFLyQ OXJDU GH IDEULFDFLyQ  QRPEUH GHO
IDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR GHVFULSFLyQGHOPDWHULDODQHMR  7tWX
ORGHODVHULH 7tWXORVSDUDOHORVGHODVHULHVXEWtWXORV\RLQIRUPDFLyQFRPSOHPHQ
WDULDVREUHHOWtWXORGHODVHULH0HQFLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDODVHULHRWUDV
PHQFLRQHV ,661 GH OD VHULH  Q~PHUR GH VHULH 'HVLJQDFLyQ \R WtWXOR GH VXEVH
ULHV \ VHFFLRQHV  7tWXORV SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRU
PDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHVXEVHULHV\VHFFLRQHV0HQFLRQHVGHUHVSRQVD
ELOLGDG UHODWLYDV D VXEVHULHV \ VHFFLRQHV  RWUDV PHQFLRQHV ,661 GH VXEVHULHV \ VHF
FLRQHVQ~PHURGHVXEVHULHV\VHFFLRQHV  2WUDVHULH 
1RWDV

1~PHUR QRUPDOL]DGR R HTXLYDOHQWH


\RSUHFLR

 7tWXOR FODYH  FRQGLFLRQHV GH DGTXLVLFLyQ

0DWHULD2WUDPDWHULD,$XWRUVHFXQGDULR,,2WURDXWRUVHFXQGDULR,,,6H
ULH,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
 (Q FDVR GH HVSHFLILFDU OD GHVLJQDFLyQ JHQHUDO GH OD FODVH GH GRFXPHQWR HO WpUPLQR XWLOL]DGR VHUi
>*UDEDFLyQVRQRUD@
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDO GH XQR GH ORV VLJXLHQWHV WpUPLQRV GLVFR FDVHWH FDUUHWH GH FLQWD PDJQHWRIyQLFD FDUWXFKR
FLOLQGURUROORGHSLDQRODERELQDGHKLORPDJQpWLFRFDUUHWHGHEDQGDVRQRUD7UDVODGHVLJQDFLyQGHOWLSR
GHPDWHULDOVHLQGLFDUiHQWUHSDUpQWHVLVHOQRPEUHGHXQDPDUFDFRPHUFLDORHOGHXQVLVWHPDWpFQLFR
GHWHUPLQDGRFXDQGRHOXVRGHOGRFXPHQWRHVWpFRQGLFLRQDGRDHVWDLQIRUPDFLyQ6HSXHGHKDFHUFRQV
WDUGHIRUPDFRPSOHPHQWDULDODGXUDFLyQGHODJUDEDFLyQHQWUHSDUpQWHVLV2WUDVFDUDFWHUtVWLFDVItVLFDV
TXHSXHGHQVHxDODUVHHQHVWHRUGHQVRQYHORFLGDGGHUHSURGXFFLyQ GLVFRV\FLQWDVPDJQHWRIyQLFDV 
FDUDFWHUtVWLFDVGHOVXUFR GLVFRV Q~PHURGHSLVWDV FLQWDVPDJQHWRIyQLFDVFDVHWHV\FDUWXFKRV FRQIL
JXUDFLyQGHODVSLVWDV EDQGDVRQRUDGHSHOtFXODV Q~PHURGHFDQDOHVGHVRQLGR GLVFRVFLQWDVPDJQH
WRIyQLFDV FDVHWHV \ FDUWXFKRV  FDUDFWHUtVWLFDV GH UHSURGXFFLyQ \ JUDEDFLyQ (Q FXDQWR D ODV GLPHQVLR
QHVHQORVGLVFRV\FLQWDVPDJQHWRIyQLFDVVHLQGLFDUiODPHGLGDGHOGLiPHWURHQFHQWtPHWURV\HQODV
FLQWDVVLHPSUHTXHQRVHDODPHGLGDQRUPDOL]DGDVHKDUiFRQVWDUODDQFKXUDHQPLOtPHWURV
 6RQ QRWDV REOLJDWRULDV OD LQGLFDFLyQ GHO LQVWUXPHQWR VLHPSUH TXH QR KD\D TXHGDGR UHIOHMDGD HQ XQ
iUHDDQWHULRU6HLQGLFDUiQDVtPLVPRORVLQVWUXPHQWRVFRUUHVSRQGLHQWHVDSDUWHVH[FHSWRHQJUDQGHV
FRQMXQWRVLQVWUXPHQWDOHVTXHHVXQGDWRRSFLRQDO(QODVQRWDVUHODFLRQDGDVFRQODPHQFLyQGHUHVSRQ
VDELOLGDGVHKDFHQFRQVWDUORVQRPEUHVGHORVLQWpUSUHWHVTXHVHOLPLWDQDDFWXDUHMHFXWDURLQWHUSUHWDU
XQDREUD\VXPHGLRGHHMHFXFLyQVLQRKDQVLGRUHODFLRQDGRVHQHOiUHDXQRHVWDQRWDSXHGHFRPEL
QDUVHFRQODGHFRQWHQLGR(QWUHODVQRWDVQRUHODFLRQDGDVFRQXQiUHDGHWHUPLQDGDGHVWDFDQODVQRWDV
GH FRQWHQLGR &RQWLHQH  HQ ODV TXH VH HQXPHUDQ ODV PHQFLRQHV GH UHVSRQVDELOLGDG FRQ VXV WtWXORV
DXWRUHVHLQWpUSUHWHGXUDFLyQHWF VLVHFRQVLGHUDRSRUWXQR

KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR




',5
EUR

',5(675$,76 LQW 

%URWKHUVLQDUPV>*UDEDFLyQVRQRUD@>SHUIRUPHGE\@'LUH6WUDLWVVRQJVZULWWHQE\
0DUN.QRSIOHU>HGHVSDxROD@0DGULG3RO\JUDP,EpULFD
FDVHWH FDPLQ GROEL

0DUN .QRSIOHU JXLWDUV DQG YRFDOV  $ODQ &ODUN NH\ERDUGV  *X\ )OHWFKHU NH\ERDUGV
DQGYRFDOV-RKQ,OOVOH\EDVVDQGYRFDOV2PDU+DNLPDQG7HUU\:LOOLDPVGUXPV

&RQWLHQH6RIDUDZD\0RQH\IRUQRWKLQJ:DONRIOLIH<RXUODWHVWWULFN:K\ZRUU\
5LGHDFURVVWKHULYHU7KHPDQ
VWRRVWURQJ2QHZRUOG%URWKHUVLQDUPV


0~VLFDURFN*UDEDFLRQHVVRQRUDV,.QRSIOHU0DUNDXW,,7tWXOR
  

5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

9,,,0,&52)250$6




(1&$%(=$0,(172

6LJQDWXUD
7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
WRSRJUiILFD SDUDOHORVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXOR$XWRURWUR
DXWRUDXWRUVHFXQGDULR0HQFLyQGHHGLFLyQ PHQFLyQGHHGLFLyQSDUDOHOD0HQ
FLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDODHGLFLyQPHQFLyQGHHGLFLyQDGLFLRQDO0HQ
FLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDXQDPHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHV
UHDGHGDWRVHVSHFtILFRVGHODFODVHGHGRFXPHQWR/XJDUGHSXEOLFDFLyQ\R
GH GLVWULEXFLyQ  RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWULEXLGRU  RWURV QRPEUHV GH
HGLWRU\RGLVWULEXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOL
FDFLyQ \R GLVWULEXFLyQ OXJDU GH IDEULFDFLyQ  QRPEUH GHO IDEULFDQWH IHFKD GH IDEULFD
FLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR GHVFULSFLyQGHOPDWHULDODQHMR  7tWX
ORGHODVHULH 7tWXORVSDUDOHORVGHODVHULHVXEWtWXORV\RLQIRUPDFLyQFRPSOHPHQ
WDULDVREUHHOWtWXORGHODVHULH0HQFLRQHVGHUHVSRQVDELOLGDGUHODWLYDVDODVHULHRWUDV
PHQFLRQHV ,661 GH OD VHULH  Q~PHUR GH VHULH 'HVLJQDFLyQ \R WtWXOR GH VXEVH
ULHV \ VHFFLRQHV  7tWXORV SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRU
PDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHVXEVHULHV\VHFFLRQHV0HQFLRQHVGHUHVSRQVD
ELOLGDG UHODWLYDV D VXEVHULHV \ VHFFLRQHV  RWUDV PHQFLRQHV ,661 GH VXEVHULHV \ VHF
FLRQHVQ~PHURGHVXEVHULHV\VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1 XRWURQ~PHURQRUPDOL]DGR 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\R


SUHFLR
0DWHULD2WUDPDWHULD,$XWRUVHFXQGDULR,,2WURDXWRUVHFXQGDULR,,,6H
ULH,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>0L
FURIRUPD@
(OiUHDGHGDWRVHVSHFtILFRVIRUPDSDUWHGHODGHVFULSFLyQFXDQGRVHHGLWDQPDWHULDOHVHQFX\DGHV
FULSFLyQ VHD REOLJDGD SXEOLFDFLRQHV VHULDGDV PDWHULDO FDUWRJUiILFR P~VLFD LPSUHVD HWF  \ FXDQGR OD
PLFURIRUPDVHDSRUVtPLVPDXQDSXEOLFDFLyQVHULDGD(QFDGDFDVRVHDSOLFDUiQODVUHJODVHVWDEOHFLGDV
SDUDFDGDWLSRGHGRFXPHQWR
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVPLFURILOPHPLFURILFKDPLFURRSDFRILFKDGHYHQWDQD6LVH
KD XVDGR HO WpUPLQR PLFURIRUPD SDUD OD GHVLJQDFLyQ JHQHUDO GH OD FODVH GH GRFXPHQWR SXHGH VXSUL
PLUVHHOSUHILMRPLFURGHHVWRVWpUPLQRV6LODPLFURIRUPDHVWiHQQHJDWLYRRVLFRQWLHQHLOXVWUDFLRQHVVH
KDUiQFRQVWDUGLFKDVFDUDFWHUtVWLFDV6LHVWiQHQFRORUWDPELpQVHLQGLFDUiHVWDFLUFXQVWDQFLD(QFXDQWR
DODVGLPHQVLRQHVVHLQGLFDUiODDQFKXUDGHOPLFURILOPHHQPLOtPHWURVSDUDORVPLFURILOPHVHQORVGH
PiVFDVRVVHLQGLFDUiODDOWXUDSRUODDQFKXUDLQGLFDGDVHQFHQWtPHWURV
6HSRGUiQLQGLFDUQRWDVVREUHODQDWXUDOH]DFRQWHQLGRRFXDOTXLHURWURGHWDOOHGHODREUDQRGHGXFLEOH
GHO UHVWR GH OD SXEOLFDFLyQ GH GyQGH VH KD WRPDGR HO WtWXOR SRU HMHPSOR  (Q FXDQWR D ODV QRWDV QR
UHODFLRQDGDVFRQXQiUHDGHWHUPLQDGDSXHGHQVHxDODUVHHOWLSRGHXVXDULRRHOQLYHOLQWHOHFWXDOSDUDHO
TXHVHGHVWLQDODREUDRWURVIRUPDWRVHQTXHSXHGDHVWDUHGLWDGDRVREUHQ~PHURVGHLPSRUWDQFLDGLV
WLQWRVGHXQQ~PHURLQWHUQDFLRQDOQRUPDOL]DGR

KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR




*21
DGY

*21=/(=*$5&$/XLV

(ODGYHUELRHQHVSDxRO>0LFURIRUPD@/XLV*RQ]iOH]*DUFtD6DQWLDJRGH&RPSRVWHOD
8QLYHUVLGDGGH6DQWLDJRGH&RPSRVWHOD
 PLFURILFKDV  7HVHV HQ PLFURILFKD GD 8QLYHUVLGDGH GH 6DQWLDJR GH &RPSRVWHOD 
 
FDUSHWLOOD S 

7HVLV8QLY6DQWLDJRGH&RPSRVWHOD

,6%1

 (VSDxRO OHQJXD $GYHUELR  7HVLV \ GLVHUWDFLRQHV DFDGpPLFDV , 8QLYHUVLGDG GH
6DQWLDJRGH&RPSRVWHOD,,7tWXOR
  
5




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

,;3(/&8/$6<9,'(2*5$%$&,21(6




6LJQDWXUD

(1&$%(=$0,(172

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
WRSRJUiILFD UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG    0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQGHHGLFLyQDGLFLRQDORWUDVPHQFLRQHVUHDGHGDWRVHVSHFILLFRVGH
OD FODVH GH GRFXPHQWR  /XJDU GH SXEOLFDFLyQ \R GH GLVWULEXFLyQ  RWURV OXJDUHV 
QRPEUH GHO HGLWRU \R GLVWULEXLGRU  RWURV QRPEUHV GH HGLWRU \R GLVWULEXLGRU >PHQFLyQ
GHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFDFLyQ\RGLVWULEXFLyQ OXJDUGH
IDEULFDFLyQQRPEUHGHOIDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORV
SDUDOHORV GH OD VHULH  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH HO WtWXOR GH OD
VHULH  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD VHULH  RWUDV PHQFLRQHV ,661 GH OD
VHULHQ~PHURGHVHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORV
SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH
HO WtWXOR GH VXEVHULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \
VHFFLRQHVRWUDVPHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\
VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1RVXHTXLYDOHQWH 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>3H
OtFXOD@SDUDODVSHOtFXODVFLQHPDWRJUiILFDV\>9tGHR@SDUDODVYLGHRJUDEDFLRQHV
(OiUHDGHGDWRVHVSHFtILFRVIRUPDSDUWHGHODGHVFULSFLyQ~QLFDPHQWHFXDQGRVXSXEOLFDFLyQVHDVH
ULDGD
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVHQHOFDVRGHSHOtFXODVUROORFDUWXFKRFDVHWHSHOtFXODVLQ
ILQHQHOFDVRGHYLGHRVFLQWDFDUWXFKRFDVHWHGLVFR6LQRVHKDLQFOXLGRODGHVLJQDFLyQJHQHUDOGHOD
FODVHGHGRFXPHQWRKDEUiTXHDxDGLUDHVWDVGHVLJQDFLRQHVHOWpUPLQRSHOtFXODRYtGHR FDUWXFKR
GHSHOtFXODYLGHRGLVFRV 3XHGHDxDGLUVHHQWUHSDUpQWHVLVHOQRPEUHGHXQDPDUFDFRPHUFLDORFXDO
TXLHURWUDHVSHFLILFDFLyQWpFQLFDVLHOXVRGHODYLGHRJUDEDFLyQHVWiFRQGLFLRQDGRDHVWDLQIRUPDFLyQ6H
KDUi FRQVWDU HO WLHPSR WRWDO HVSHFLILFDGR HQ HO GRFXPHQWR HQPLQXWRVH[FHSWRFXDQGRODGXUDFLyQVHD
LQIHULRU D FLQFR PLQXWRV HQ FX\R FDVR VH LQGLFDUi HQ PLQXWRV \ VHJXQGRV VL QR FRQVWD VH LQGLFDUi HO
WLHPSR DSUR[LPDGR $GHPiV VH KDUi PHQFLyQ GH ODV VLJXLHQWHV FDUDFWHUtVWLFDV ItVLFDV HQ HO VLJXLHQWH
RUGHQPDWHULDOFDUDFWHUtVWLFDVHVSHFLDOHVGHODSUR\HFFLyQ HQHOFDVRGHODVSHOtFXODV FDUDFWHUtVWLFDV
GHOVRQLGRFRORUYHORFLGDGGHSUR\HFFLyQ HQHOFDVRGHODVSHOtFXODV YHORFLGDG UHYROXFLRQHVSRUPLQX
WR HQORVYLGHRGLVFRV(QFXDQWRDGLPHQVLRQHVVHKDUiFRQVWDUODVVLJXLHQWHVD SHOtFXODVDQFKXUDGH
ODFLQWDHQPLOtPHWURV\VLODDQFKXUDHVGHPPVHHVSHFLILFDUiVLHVVLPSOHHVWiQGDUV~SHUR0DX
UHUE YLGHRFDVHWHVDQFKXUDHQPLOtPHWURVFXDQGRQRVHDODHVWiQGDU PP F YLGHRGLVFRVORQJL
WXGGHOGLiPHWURHQFHQWtPHWURV
(QUHODFLyQDOiUHDGHWtWXORSXHGHLQGLFDUVHODQDWXUDOH]D\IRUPDGHOGRFXPHQWRVLHVGRFXPHQWDO
SHOtFXODHGXFDWLYDREUDSDUDODWHOHYLVLyQSHOtFXODSXEOLFLWDULDHWF7DPELpQSXHGHLQGLFDUVHODOHQJXDR
OHQJXDVGHORVGLiORJRVFDQFLRQHVRWH[WRV6HWUDQVFULELUiQHQUHODFLyQDODPHQFLyQGHUHVSRQVDELOL
GDGORVQRPEUHVGHODVSHUVRQDVTXHRSFLRQDOPHQWHVHGHFLGD LQWpUSUHWHVDXWRUHVGHODP~VLFDDXWR
UHVGHODIRWRJUDItDHWF (QWUHODVQRWDVQRUHODFLRQDGDVFRQXQiUHDGHWHUPLQDGDSXHGHQGHVWDFDUVH
ODVGHFRQWHQLGR &RQWLHQH WLUDGDS~EOLFRDTXHVHGHVWLQDODREUDGHSyVLWROHJDOHWF




KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


$//
WRG

$//(1:RRG\

7RGRVGLFHQ,ORYH\RXXQDFRPHGLDGH:RRG\$OOHQ>9tGHR@(VFULWD\GLULJLGDSRU
:RRG\ $OOHQ  SURGXFWRUHV -DFN 5ROOLQV &KDUOHV + -RIIH \ /HWW\ $URQVRQ SURGXFLGD SRU
5REHUW*UHHQKXWGLUHFWRUGHIRWRJUDItD&DUORGL3DOPDDUUHJORV\GLUHFFLyQPXVLFDO'LFN
+\PDQ%DUFHORQD/DXUHQ)LOPV9LGHR+RJDU
FDVHWH 9+6  FDPLQ IRUPDWRSDQRUiPLFRVRQ +,), FRO
,QIRUPDFLyQWRPDGDGHOHQYDVH

:RRG\$OOHQHVVHXGyQLPRGH$OOHQ6WHZDUW.RQLJVEHUJ

,QWpUSUHWHV$ODQ$OGD:RRG\$OOHQ'UHZ%DUU\PRUH/XNDV+DQV*ROGLH+DZQ*DE\
+RIIPDQQ1DWDVKD/\RQQH(GZDUG1RUWRQ1DWDOLH3RUWPDQ-XOLD5REHUWV7LP5RWK'D
YLG2JGHQ6WLHUV


3HOtFXODVFLQHPDWRJUiILFDV,7tWXOR

  

5



KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

;$5&+,926'(25'(1$'25




6LJQDWXUD

(1&$%(=$0,(172

7tWXORSURSLDPHQWHGLFKR>'HVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWR@ 7tWXORV
SDUDOHORV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD GHO WtWXOR  0HQFLyQ GH
WRSRJUiILFD UHVSRQVDELOLGDG  RWUDV PHQFLRQHV GH UHVSRQVDELOLGDG    0HQFLyQ GH HGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD
PHQFLyQ GH HGLFLyQ DGLFLRQDO  RWUDV PHQFLRQHV  'HVLJQDFLyQ HVSHFtILFD GH OD
FODVHGHDUFKLYR H[WHQVLyQGHODUFKLYR /XJDUGHSXEOLFDFLyQ\RGHGLVWULEXFLyQ
RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWULEXLGRU  RWURV QRPEUHV GH HGLWRU \R GLVWUL
EXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFDFLyQ\RGLV
WULEXFLyQ OXJDUGHIDEULFDFLyQQRPEUHGHOIDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHRWUDVFDUDFWHUtV
WLFDVItVLFDVGLPHQVLRQHVPDWHULDODQHMR 7tWXORSURSLRGHODVHULH 7tWXORV
SDUDOHORV GH OD VHULH  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH HO WtWXOR GH OD
VHULH  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD VHULH  RWUDV PHQFLRQHV ,661 GH OD
VHULHQ~PHURGHVHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORV
SDUDOHORV GH VXEVHULHV \ VHFFLRQHV  VXEWtWXOR \R LQIRUPDFLyQ FRPSOHPHQWDULD VREUH
HO WtWXOR GH VXEVHULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \
VHFFLRQHVRWUDVPHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\
VHFFLRQHV  2WUDVHULH 
1RWDV

,6%1 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQ\RSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
(QFDVRGHHVSHFLILFDUODGHVLJQDFLyQJHQHUDOGHODFODVHGHGRFXPHQWRHOWpUPLQRXWLOL]DGRVHUi>$U
FKLYRGHRUGHQDGRU@
7pPLQRVFRPRYHUVLyQQLYHOSXEOLFDFLyQHWFSXHGHQFRQVLGHUDUVHVLQyQLPRVGHHGLFLyQHQHOFDVR
GHORVDUFKLYRVGHRUGHQDGRU
6HFRQVLJQDUiODGHVLJQDFLyQGHODFODVHGHDUFKLYRHQODOHQJXDGHOFHQWURFDWDORJDGRU1RVHXWLOL]D
UiQFRUFKHWHVDXQTXHORVGDWRVQRFRQVWHQHQODIXHQWHSULQFLSDO/DGHVLJQDFLyQVHKDUiXWLOL]DQGRXQR
GHORVVLJXLHQWHVWpUPLQRVGDWRVSURJUDPDSURJUDPDVGDWRV\SURJUDPDGDWRV\SURJUDPDV/DH[
WHQVLyQVHPHQFLRQDUiFXDQGRFRQVWHHOGDWRHQODVIXHQWHVGHLQIRUPDFLyQ\VHFRQVLGHUHGHLQWHUpVSRU
HOFHQWURFDWDORJDGRU(QHVWHFDVRVHFRQVLJQDUiHOQ~PHURGHDUFKLYRV\SUHFHGLGRVGHHVSDFLRGRV
SXQWRVHVSDFLRHOQ~PHURGHUHJLVWURV\RE\WHVHQHOFDVRGHGDWRV\HOQ~PHURGHLQVWUXFFLRQHV\R
E\WHVHQHOFDVRGHSURJUDPDV
6HLQGLFDUiHOQ~PHURGHXQLGDGHVItVLFDVGHOGRFXPHQWRVHJXLGRSDUDODGHVLJQDFLyQHVSHFtILFDGHO
PDWHULDOGHXQRGHORVVLJXLHQWHVWpUPLQRVFDUUHWHFDUWXFKRFDVHWHGLVFRFRPSDFWRGLVTXHWHVWUHD
PHU6HSRGUiQRPEUDUDFRQWLQXDFLyQHQWUHSDUpQWHVLVHOQRPEUHPRGHOR\RQ~PHURGHRUGHQDGRU
FXDQGRpVWHFRQGLFLRQHHOXVRGHODUFKLYR6LHODUFKLYRHVWiFRGLILFDGRSDUDSURGXFLUVRQLGRVVHLQGLFDUi
HVWDFDUDFWHUtVWLFDPHGLDQWHODDEUHYLDWXUDVRQ6LSXHGHYLVXDOL]DUVHHQGRVRPiVFRORUHVVHLQGLFD
UiHVWDFDUDFWHUtVWLFDPHGLDQWHODDEUHYLDWXUDFRO(QFXDQWRDGLPHQVLRQHVVHLQGLFDUiQODVVLJXLHQ
WHV D  GLVFRV \ GLVTXHWHV GLiPHWUR HQ FHQWtPHWURV E  FDUUHWHV GLiPHWUR HQ FHQWtPHWURV \ RSFLRQDO
PHQWH DQFKXUD HQ PLOtPHWURV \ ORQJLWXG HQ PHWURV F  FDUWXFKRV ORQJLWXG GH OD FDUD GHO FDUWXFKR G 
FDVHWHVODUJR\DQFKRGHODFDVHWH\DQFKXUDGHODFLQWDVLQRFRLQFLGHQFRQODPHGLGDHVWiQGDU [
FPPP 
3XHGHQLQFOXLUVHQRWDVUHIHUHQWHVDODOHQJXD\HVFULWXUDGHODUFKLYRDODIXHQWHGHOWtWXORVLpVWHKD
VLGRWUDQVFULWRGHXQDIXHQWHGLVWLQWDDOSURSLRGRFXPHQWRDYDULDQWHVGHOWtWXORDODHGLFLyQHKLVWRULD
ELEOLRJUiILFDGHODUFKLYRDODFODVH\H[WHQVLyQGHODUFKLYR\DODVFDUDFWHUtVWLFDVGHOVLVWHPDTXHFRQGL
FLRQHQ HO XVR GHO DUFKLYR SUHFHGLGDV GH OD H[SUHVLyQ &DUDFWHUtVWLFDV GHO VLVWHPD VH HVSHFLILFDUi HO
QRPEUHPRGHOR\RQ~PHURGHORUGHQDGRUODFDSDFLGDGGHPHPRULDHOQRPEUHGHOVLVWHPDRSHUDWLYR
ODVFDUDFWHUtVWLFDVGHOVRSRUWHOyJLFRFRQLQFOXVLyQGHOOHQJXDMHGHSURJUDPDFLyQORVHTXLSRVSHULIpULFRV
\ODVPRGLILFDFLRQHVGHOHTXLSRItVLFR (QFXDQWRDODVQRWDVQRUHODFLRQDGDVFRQXQiUHDGHWHUPLQDGD
SRGUiVHxDODUVHHOS~EOLFRDOTXHHVWiGHVWLQDGRHOPRGRGHXVDUORFXDQGRQRSXHGDVHUOHtGRHQWRGRV
ORVHTXLSRVXQEUHYHVXPDULR 6XPDULR RQ~PHURVGHLGHQWLILFDFLyQGLVWLQWRVGHOQ~PHURLQWHUQDFLR
QDOQRUPDOL]DGR
KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR


%(5
FKH

%(55(770DUN

7KH FKHVVPDVWHU   WK DQQLYHUVDU\ HGLWLRQ >$UFKLYR GH RUGHQDGRU@  0DUN
%HUUHWW>HWDO@YHUVLRQSDUD:LQGRZV'DWRV DUFKLYRVUHJLVWURV \
SURJUDPDV>VO@0LQGVFDSH
GLVFRFRPSDFWRVRQFROFP

&DUDFWHUtVWLFDVGHOVLVWHPD';0+]0E5$0:LQGRZVRVXSHULRU
0EGHHVSDFLROLEUHHQHOGLVFRGXUR
0

-XHJRVHOHFWUyQLFRV,7tWXOR




5







KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

;,38%/,&$&,21(66(5,$'$6




(1&$%(=$0,(172

6LJQDWXUD
778/2 3523,$0(17( ',&+2 >'HVLJQDFLyQ JHQHUDO GH OD FODVH GH GRFXPHQWR@ 
WRSRJUiILFD 7tWXORVSDUDOHORVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDGHOWtWXOR0HQFLyQ
GHUHVSRQVDELOLGDGRWUDVPHQFLRQHVGHUHVSRQVDELOLGDG0HQFLyQGHHGLFLyQ 
PHQFLyQ GH HGLFLyQ SDUDOHOD  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D OD HGLFLyQ
PHQFLyQ GH HGLFLyQ DGLFLRQDO  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D XQD PHQFLyQ GH
HGLFLyQ DGLFLRQDO  RWUDV PHQFLRQHV  'HVLJQDFLyQ QXPpULFD \R FURQROyJLFD GHO
SULPHU Q~PHURGHVLJQDFLyQ QXPpULFD \R FURQROyJLFD GHO ~OWLPR Q~PHUR  /X
JDU GH SXEOLFDFLyQ \R GH GLVWULEXFLyQ  RWURV OXJDUHV  QRPEUH GHO HGLWRU \R GLVWUL
EXLGRU>PHQFLyQGHODIXQFLyQGHHGLWRU\RGLVWULEXLGRU@IHFKDGHSXEOLFDFLyQ OXJDUGH
IDEULFDFLyQQRPEUHGHOIDEULFDQWHIHFKDGHIDEULFDFLyQ 
([WHQVLyQ\GHVLJQDFLyQHVSHFtILFDGHPDWHULDOPHQFLyQGHLOXVWUDFLyQGLPHQVLRQHV
PDWHULDODQHMR 7tWXORSURSLDPHQWHGLFKRGHODVHULH 7tWXORVSDUDOHORVGHOD
VHULHVXEWtWXORV\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHODVHULH0HQFLRQHV
GHUHVSRQVDELOLGDGUHODWLYDVDODVHULHRWUDVPHQFLRQHV,661GHODVHULHQ~PHURGH
VHULH'HVLJQDFLyQ\RWtWXORGHVXEVHULHV\VHFFLRQHV 7tWXORVSDUDOHORVGHVXE
VHULHV\VHFFLRQHVVXEWtWXOR\RLQIRUPDFLyQFRPSOHPHQWDULDVREUHHOWtWXORGHVXEVH
ULHV \ VHFFLRQHV  0HQFLRQHV GH UHVSRQVDELOLGDG UHODWLYDV D VXEVHULHV \ VHFFLRQHV  RWUDV
PHQFLRQHV,661GHVXEVHULHV\VHFFLRQHVQ~PHURGHVXEVHULHV\VHFFLRQHV  2WUD
VHULH 
1RWDV

,661 7tWXORFODYHFRQGLFLRQHVGHDGTXLVLFLyQSUHFLR

 0DWHULD  2WUD PDWHULD , $XWRU VHFXQGDULR ,, 2WUR DXWRU VHFXQGDULR,,,6HULH
,97tWXOR
&'8

5




$FODUDFLRQHVUHIHUHQWHVDDOJXQDViUHDV
 (Q FDVR GH HVSHFLILFDU OD GHVLJQDFLyQ JHQHUDO GH OD FODVH GH GRFXPHQWR HO WpUPLQR XWLOL]DGR VHUi
>7H[WRLPSUHVR@RELHQ>7H[WRHQEUDLOOH@SDUDODVSXEOLFDFLRQHVHQHVWHWLSRGHHVFULWXUD
(QHOiUHDGHQXPHUDFLyQVHKDFHQFRQVWDUORVQ~PHURV\RIHFKDVFRUUHVSRQGLHQWHVDORVIDVFtFXORV
SULPHUR\~OWLPRGHODSXEOLFDFLyQVHULDGD
/DGHVLJQDFLyQHVSHFtILFDGHOPDWHULDOVHKDUiXWLOL]DQGRORVWpUPLQRVHVWDEOHFLGRVSDUDFDGDFODVHGH
GRFXPHQWR0LHQWUDVODSXEOLFDFLyQHVWpHQFXUVRVHLQGLFDUiODGHVLJQDFLyQHVSHFtILFDGHOPDWHULDOSUH
FHGLGDGHWUHVHVSDFLRV/DVLOXVWUDFLRQHVVHLQGLFDUiQRSFLRQDOPHQWHHQWDOFDVRVHKDUiQFRQVWDUFRQ
ODDEUHYLDWXUDLO/DVPHGLGDVVHH[SUHVDQHQFHQWtPHWURV FP FRQVLGHUDQGRODVIUDFFLRQHVGHFHQ
WtPHWURFRPRXQFHQWtPHWURFRPSOHWR
 3XHGHQ FRQVLGHUDUVH QRWDV REOLJDGDV ODV DQRWDFLRQHV GH OD SHULRGLFLGDG GHO Q~PHUR HQ TXH KHPRV
EDVDGRODGHVFULSFLyQRGHOQ~PHURGHIDVFtFXORVGHTXHGLVSRQHHOFHQWURVLQRGLVSRQHGHWRGRV7DP
ELpQSXHGHQLQGLFDUVHODYDULDFLyQGHOWtWXORGHXQDpSRFDDRWUDRODHVFLVLyQGHXQWtWXORHQYDULRV


KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

'HVFULSFLyQELEOLRJUiILFDVHJ~QODV,6%'
(VTXHPDVEiVLFRVSDUDHOWpFQLFRDX[LOLDUGHELEOLRWHFD

(MHPSOR




0$1
PDQ

0$18$/GHXWLOLGDGHV\WUXFRV,QWHUQHW

0DQXDO GH XWLOLGDGHV \ WUXFRV ,QWHUQHW >7H[WR LPSUHVR@  1      0DGULG 
9QX%XVLQHVV3XEOLFDWLRQV(VSDxD'/
YLOFP&'520

0HQVXDO

'HVFULSFLyQEDVDGDHQQ  
'LVSRQLEOHVQQ\Q

,661FDUHFH3WDV 


,QIRUPiWLFD3XEOLFDFLRQHVSHULyGLFDV

  

  
5






KWWSZZZEUDGRPLQHVYJ

3iJLQDGH

Вам также может понравиться