FOL - Formación y orientación laboral 2013
October 17, 2018 | Author: Vicente | Category: N/A
Short Description
ISBN: 978-84-940476-1-9...
Description
Formación y Orientación Laboral Derecho del Trabajo: Bruno Jesús García González Prevención de Riesgos Laborales: Bruno Jesús García González Mª Carmen De Fez Solaz Orientación Laboral y Equipos de Trabajo: David Tena Cornelles
TuLibrodeFP Cada maestrillo tiene su librillo. Nosotros le ponemos ISBN.
'LUtMDVHD&('52&HQWUR(VSDxROGH'HUHFKRV5HSURJUi¿FRVZZZFHGURRUJ VLQHFHVLWD ! "#$! %"&'()*+',.# # / ,)012 $OERUD\D9DOHQFLD !"#$ '+(0(20'2-2+3010' % 4011'*0*-1, & ! "#$! '( & 56 76889 :; 9"8$8 (
"# A
C A2 5
"B! '3 8 > D9 7 9
!BAA ( "B! "## (
> C A 6( 2 "B! 9 GHO7UDEDMR3UHYHQFLyQGH5LHVJRV/DERUDOHV2ULHQWDFLyQ/DERUDO\(TXLSRVGH7UDEDMR\6ROXFLyQGH&RQÀLFWRV&DGDXQLGDG
E ! 8 / C E 0!2( C > C 0/ 7*( 8E 8 0&9 F"7>G 0-2 8 0 QHQWHSUiFWLFRFRPRVRQODVGH2ULHQWDFLyQ/DERUDO)DFWRUHVGH5LHVJRR(TXLSRVGH7UDEDMR\6ROXFLyQGH&RQÀLFWRV $O¿QDOGHFDGDXQLGDGVHSUHVHQWDQODVDFWLYLGDGHV¿QDOHVE 0:2 0;
0& HOOLEURSUHVHQWDQRWLFLDVGHSUHQVDGHODUHDOLGDGGHOPXQGRODERUDOSDUDTXHORVDOXPQRVUHÀH[LRQHQVREUH C > /
C > 7 H 0&( ( VRQQRWLFLDVGHSUHQVDPiVHQFDPLQDGDVDSUHVHQWDUXQFRQÀLFWRGHYDORUHV\ 7 7 # H 8 F > GF G F. > .G F. .G 8 > CA 8 8
I <&19 1= 9 >( *! ( ," 9 >129 12 )A 13 3! 1+ / 1(
(OFRQWUDWRGHWUDEDMR 1A >*2 *: *+ ,! > ,2 1XHYDVIRUPDVÀH[LEOHVGHRUJDQL]DFLyQGHOWUDEDMR,) / ,+
/DMRUQDGDGHWUDEDMR 1!>
22 *A >2) ,! C
23 2D > 2+ )! 2( 3! 2' /RVSODQHVGHLJXDOGDG)/ )1
(OVDODULR\ODQyPLQD 1A )( /DVJDUDQWtDVGHOVDODULR3,! 31 / +1
0RGL¿FDFLyQVXVSHQVLyQ\H[WLQFLyQGHOFRQWUDWR 0RGL¿FDFLyQGHOFRQWUDWR+3 *! +' ,!C (* (O¿QLTXLWR(' / '*
66
I 3DUWLFLSDFLyQGHORVWUDEDMDGRUHV 1! 1-*! 1-1 ,! 1-2 2A 1-3 /RVFRQÀLFWRVFROHFWLYRV1-+ 3A 1-' / 11-
6HJXULGDG6RFLDO\GHVHPSOHR /D6HJXULGDG6RFLDO 113 3UHVWDFLRQHVGHOD6HJXULGDG6RFLDO1*,9 1*) / 1*(
/DSUHYHQFLyQGHULHVJRVFRQFHSWRVEiVLFRV 1 1,2 )DFWRUHVGHULHVJRODERUDO1,) ,9H > 1,3 0HGLGDVGHSUHYHQFLyQ\SURWHFFLyQGHULHVJRVODERUDOHV12, / 12+
/DSUHYHQFLyQGHULHVJRVOHJLVODFLyQ\RUJDQL]DFLyQ /HJLVODFLyQVREUHSUHYHQFLyQGHULHVJRVODERUDOHV1)* /DRUJDQL]DFLyQGHODSUHYHQFLyQHQODHPSUHVD1)( 3DUWLFLSDFLyQGHORVWUDEDMDGRUHVHQODSUHYHQFLyQGHULHVJRV1)' /DJHVWLyQGHODSUHYHQFLyQHQODHPSUHVD13/ 132
)DFWRUHVGHULHVJR\VXSUHYHQFLyQ /RVIDFWRUHVGHULHVJRODERUDO1+)DFWRUHVGHULHVJRGHULYDGRVGHODVFRQGLFLRQHVGHVHJXULGDG1+)DFWRUHVGHULHVJRGHULYDGRVGHODVFRQGLFLRQHVPHGLRDPELHQWDOHV1+) )DFWRUHVGHULHVJRGHULYDGRVGHODFDUJDGHWUDEDMR1(1 )DFWRUHVGHULHVJRGHULYDGRVGHODRUJDQL]DFLyQGHOWUDEDMR1(, / 1((
=
I (PHUJHQFLDV\SULPHURVDX[LOLRV 1A 1'2 *# C 1'3 ,$ 1'( $FWXDFLyQIUHQWHDRWUDVHPHUJHQFLDV *-1 ) *-' %RWLTXtQGHSULPHURVDX[LOLRV *-' / *1-
2ULHQWDFLyQODERUDO 1
*13 */ *1( ,WLQHUDULRVIRUPDWLYRV\SURIHVLRQDOL]DGRUHV **1 /DE~VTXHGDGHHPSOHR **, )B A **) 3! **( (OFXUUtFXOXPYLWDH **' (! > *,/DPDUFDSHUVRQDOR³SHUVRQDOEUDQGLQJ´ *,) / *,3
(TXLSRVGHWUDEDMR (TXLSRGHWUDEDMR *2* )RUPDFLyQGHORVHTXLSRV *2, 7LSRVGHHTXLSRGHWUDEDMR *22 (¿FDFLD\H¿FLHQFLDHQHOWUDEDMRHQHTXLSR *2) 3DUWLFLSDFLyQHQORVHTXLSRVORVUROHV *)1 /RVSURFHVRVGHLQÀXHQFLDGHOJUXSR *)* (OOLGHUD]JR *), 'LQiPLFDVGHWUDEDMRHQHTXLSR *), / *)2
&RQÀLFWR\QHJRFLDFLyQ (OFRQÀLFWR *3* (ORULJHQGHORVFRQÀLFWRVODERUDOHV *3* 7LSRVGHFRQÀLFWR *3, 5HVROXFLyQGHFRQÀLFWRVODERUDOHV *32 ¢&yPRSUHYHQLUHOFRQÀLFWR" *33 /DUHVROXFLyQGHFRQÀLFWRVGHVGHODQHJRFLDFLyQ *33 )DVHVGHODQHJRFLDFLyQ *3( &RQVHMRVSDUDQHJRFLDU *+7iFWLFDVQHJRFLDGRUDV *+/ *+1
44
?
A9 > : $1&$! " 1= 9 > *! ," 9 > 29 )A 3!
#>&1!? " 04 8 C 9 > 0$ 0 0D > 0$ 0 >
?91A!9ADA=B9A! D/&/5B
<A19 9 ( %BB
! "
#
$ %
% $
& ) % % & ' ( )
% C"'#D'"E;&)
( " ?
"( : » . ' "
% %
»
%
#
"
» . 6.
6
»
" . '
6
$
?91A!9ADA=B9A! D/&/5B '(( +QRSXHGHGLYXOJDUVHFUHWRVGHODHPSUHVDRFREUDUJUDWL¿FDFLRQHVGHORV FOLHQWHV(QGH¿QLWLYDGHEHWUDEDMDUFRQKRQHVWLGDG '( % : . %
F 9( #
% $L :
%
. "
'
:
'
'
.
#
. " #
'
:( (
#
& % ' " " F
%6
( "
/ I #
( (
( %
" ( J$ 5
2.
:2I &803/,0,(172'(Ï5'(1(6 6
#
'. #
#
=>) ? "( : F (
M6 F
' " "
#
)
:2@ &203(7(1&,$'(6/($/ G %
'
)
! F % % #
)
! #
'
'# #
' F "
#
#
#
% =( ? "( : 6tSXHVVHSURGXFLUtDXQDFRPSHWHQFLDGHVOHDODOWUDEDMDUHQGRVHPSUHVDVGHODPLVPDDFWLYLGDGFRPRWUDEDMDGRUDSRUFXHQWDDMHQD
2 "
#
G %
(
#
:23 3FJ3@ FA* $,,B*F,3 J '. %
6
( 6
. % GHOWDOOHUGHGLEXMR3DUDHOORHOLJHDGRVWUDEDMDGRUHVFRPSHWHQWHV\OHVGDXQDQXHYDSLH]DSDUDTXHODGLEXMHQVHJ~QXQPRGHORORV JUDEDQHQYtGHR\YHFXiQWRWDUGDQSDUD¿MDUHOUHQGLPLHQWRKDELWXDO$SDUWLUGHDKtSHUPLWHXQPDUJHQGHXQGHWLHPSRH[WUDDO
%
% 3 #
"
& " (
\GHVLQWHUHVDGDSRUHOWUDEDMRFRQORTXHFRQWLQXDPHQWHVXSHUDORVWLHPSRVPi[LPRVGHGLEXMRGHODVSLH]DV¢3XHGHVHUVDQFLRQDGD ? "( : F 3 ( %
' " %
#
(L% 6
( ) & #
+ 6
2% #
% '
#;":'&$ 1;: $?&$!
7 " ( ' " ' " ' YHV 6HxDOD TXH WH KD\DQ . =>) ( " " ) ?
.
?91A!9ADA=B9A! D/&/5B0/ %4%9/9A$ 4MH$( 1 "
'HA19
1 '
MH& 10 9*(
1 #
"
1 G " % "
& ' 1 +,+
"
%
IMH& 5% ( 2 ( 1 %
8 & #
% % # ( '
)
' 1
.
% . #
) #
%
1
%
"
.
%
( ) #
%
1 J ' #
%
MH &*(%(9 0 +
:H(
1 & 9;
@MH! (2%( +( 19
E 6HSURKLEtDHOWUDEDMRDPHQRUHVGHDxRV 1 % (2
5 &
K
#H MH$*( 9 D 4XHVHDXQWUDEDMRYROXQWDULR\DTXHQDGLHHVWiREOLJDGRD¿UPDU
%
1
% .
1 F. 1 " " 1
-" 1 3MH; ;& 1 " &
1 >
%
1 #
&
F 4XHHOWUDEDMRVHDSRUFXHQWDSURSLD\DTXHQRWHQGUiXQVXHOGR¿MR
F 6XIXQFLyQHVTXHODVQRUPDVGHORVSDtVHVGHOD8(VHSDUH]FDQXQ ( #
)
6MH! (2 %( ( ( UHODFLyQODERUDOH[FOXLGD
MH$*(
1 3
' ( A*B
D 'HEDQGHVHUUDWL¿FDGRVSRUQXHVWURSDtV
E 6HU FRQVHMHUR GH XQD 6/ R GH XQD 6$ FXDQGR QR UHDOL]D QLQJ~Q %
E 6HDSOLTXHQREOLJDWRULDPHQWHDWRGRVORVSDtVHVGHOPXQGR
1 ' 1 2 =MH%( +(2+ %( % %( 1 G
1 G 1 G 1 G
1 *
1 ( ' F"
A, MH; .0 1 $ ' E /RDSUXHEDODV&RUWHV*HQHUDOHVSDUDXQL¿FDUPXFKDVOH\HVHQXQD F 6HDSUXHEDSRUHO*RELHUQRHQFDVRGHXUJHQWHQHFHVLGDG MH& *( 1 1
%
3
3
?91A!9ADA=B9A! D/&/5B0/ %4%9/9A$ (OSULQFLSLRGHFRQGLFLyQPiVEHQH¿FLRVDFRQVLV0 *( D /RVFRQWUDWRVGHWUDEDMRSXHGHQSDFWDUFRQGLFLRQHVPiVEHQH¿FLR % 1
' TXHVRQPiVEHQH¿FLRVDV 1 #
' % 6MH; 9*( ( 0 5*(*( 1
&H& 3MH%2 D 6RODPHQWHFXDQGRVHWHQJDODVHJXULGDGGHTXHXQWUDEDMDGRUKD 6
E 6RODPHQWHVREUHHOSURSLRWUDEDMDGRUSHURQXQFDHQVXWDTXLOODELH " 1
(
MH& ( % 9L 9<
1
D 6HSRGUiQSRQHUFiPDUDVHQORVOXJDUHVGHWUDEDMR\HQODV]RQDV
" #) " "
%
1
/ I
1 ( (
"
H %
1 * ' "
#
(
"
=MH&( 9 1
1 " " 1
. 1 " 4MH$( (9
MH.% ( 1 D
F
& 9 1 $
" "
%
#
( " #
1
)
F 6H UHYLVDUi VL H[LVWHQ LQGLFLRV HYLGHQWHV \ FODURV GH TXH VH HVWi
E $FXGLUDH[iPHQHVGHHVWXGLRVR¿FLDOHVSRUHOWLHPSRQHFHVDULR
1
1 3 ' ' "
6 2
MH( 9
1 3 #
% ' "
1 $ ( #) '
" " " " "
IMH& (
E 6DQFLRQDUiDORVWUDEDMDGRUHVDXQTXHKD\DSDVDGRXQDxRGHVGH TXHVHFRPHWLyODIDOWDQXQFDSUHVFULEHQODVIDOWDV
1 3
' % 1 F % "
#
% 1 3 % FRQHO¿QGHTXHHOWUDEDMRVDOJDDGHODQWH
F 3RGUiVDQFLRQDUUHEDMDQGRHOVXHOGRRHOSHULRGRGHYDFDFLRQHVVLOD ' "
H(
@MH
MH; 9*(*( ( ( 2( (%
D 6LHPSUHKD\TXHFXPSOLUODV
D 6LHPSUHDO7ULEXQDO6XSHULRUGH-XVWLFLDGHVXFRPXQLGDGDXWyQRPD
E 6H FXPSOHQ FRPR QRUPD JHQHUDO VDOYR TXH HO WUDEDMDGRU SXHGD
#
&
% ' " "
1 3 3 * #
F 6LQRHVWiGHDFXHUGRQRSRGUiUHFODPDUODVDQWHHO-X]JDGRHVVX .
F $O-X]JDGRGHOR6RFLDOVLVHWUDWDGHXQDGHPDQGDGHiPELWRSUR"
( G $O7ULEXQDO6XSUHPRSDUDLQWHUSRQHUXQUHFXUVRGHFDVDFLyQ
?91A!9ADA=B9A! D/&/5B0/ %4%9/9A$
*A@*A 37A@3
'?!J!'$:!'&)-.&"'.!'&;" &!$1&.$&1 N&9+(0O GHVSHGLGRVFRQODH[FXVDGHXVDUORVSDUD¿QHVSHUVRQDOHV\HPSUHVDVSUHRFXSDGDVSRUODVWRQHODGDVGHWLHPSR 3#
'
/=
% '
-? ¢3XHGRFRQWURODUODVSiJLQDVZHETXHYLVLWDQPLVHPSOHDGRV"´ C
" "
#
(
FRPRKHUUDPLHQWDGHWUDEDMRTXHHV6LQHPEDUJRVLHOWUDEDMDGRUQRWLHQHFRQRFLPLHQWRGHTXHODHPSUHVDORLQVSHFFLRQDFXDOTXLHUSUXHED REWHQLGDFDUHFHUiGHYDOLGH]HQXQMXLFLRWDOFRPRHVWDEOHFLyXQDVHQWHQFLDGHO7ULEXQDO6XSUHPRGHOSDVDGRGHVHSWLHPEUH $TXHOIDOORREOLJyDXQDHPSUHVDJDOOHJDDUHDGPLWLUDXQHPSOHDGRTXHKDEtDHVWDGRYLVLWDQGRSiJLQDVSRUQRJUi¿FDVHQ,QWHUQHWSRUTXH . / " "
I . / . I ³3HURVLODHPSUHVDWLHQHSURWRFRORVREUHXVRGH,QWHUQHWWLHQHXQFKHTXHHQEODQFRSXHGHPLUDUORHQFXDOTXLHUPRPHQWRVLQQHFHVLGDG GHTXHHVWpSUHVHQWHHOHPSOHDGRRORVUHSUHVHQWDQWHVVLQGLFDOHV´H[SOLFD0DUF&DUUHUDGLUHFWRUGH6DJDUGR\$ERJDGRVHQ%DUFHORQD³/R (
#
" #
% #
I 'HORVSOHLWRVOOHJDGRVDO6XSUHPRHQWUH\VHJ~Q6DJDUGR\WUHFHGHVSLGRVIXHURQFRQVLGHUDGRVSURFHGHQWHVIUHQWHDVHLV
'
#
( " 6 ( % /
' "
'
#
I 2 F ) " .
C
'( )' ." 3HURSDUDHOUHVWRGHODVFRPSDxtDVODPD\RUtDHOSUREOHPDHVHOWLHPSR³/DSUHRFXSDFLyQJHQHUDOODPiVH[WHQGLGDHVHOFRQWUROGHO WLHPSRGHWUDEDMRKD\FDVRVGHDEXVRHQDOJXQDVFRPSDxtDVVHKDQSODQWHDGRHOLPLQDUHOFRUUHRHOHFWUyQLFR´H[SOLFD6DOYDGRUGHO5H\ VRFLRGLUHFWRUGHOiUHDODERUDOGH&XDWUHFDVDV\FDWHGUiWLFRGH'HUHFKRGHO7UDEDMR\GHOD6HJXULGDG6RFLDO³$YHFHVODHPSUHVDYHTXH %
% , I (O³&ROHFWLX5RQGD´XQEXIHWHODERUDOLVWDTXHGH¿HQGHWUDEDMDGRUHVWDPELpQKDREVHUYDGRTXHHOQ~PHURGHGHVSLGRVSRUHVWHDVXQWRVH .
M
B !
/
#
#
#
2
'
" 6.
45
& % I ) ) F @ ? 1 =D 6 " 6
? =>) .
?
?91A!9ADA=B9A! D/&/5B0/ %4%9/9A$
('8&$&,Ï1(19$/25(6(1(/081'2/$%25$/
& !1 9 + ( ( N
A, 0A6. , %1 ( "
% ' 0NNN 1
3# " %
: F" E 8
% '
(/&219(1,21'(/$2,762%5(('$'0Ë1,0$3$5$75$%$-$5 (OHVWDEOHFLPLHQWRGHXQDHGDGPtQLPDSDUDODDGPLVLyQDOHPSOHRHVXQDREOLJDFLyQEiVLFDGHORV(VWDGRV0LHPEURVTXHUDWL¿TXHQHO&RQYHQLRHQHO #
: ( ' #
. #
& # PHGLRVGHHGXFDFLyQHVWpQLQVX¿FLHQWHPHQWHGHVDUUROODGRVVHSRGUiHVSHFL¿FDULQLFLDOPHQWHXQDHGDGPtQLPDGHDGPLVLyQDOHPSOHRGHFDWRUFHDxRV 6H¿MDXQDHGDGPtQLPDPiVHOHYDGDGHGLHFLRFKRDxRVHQHOFDVRGH³WRGRWLSRGHHPSOHRRWUDEDMRTXHSRUVXQDWXUDOH]DRODVFRQGLFLRQHVHQTXH VHUHDOLFHSXHGDUHVXOWDUSHOLJURVRSDUDODVDOXGODVHJXULGDGRODPRUDOLGDGGHORVPHQRUHV´6HGHMDTXHFDGDSDtVGHWHUPLQHFXiOHVVRQHVRVWLSRVGH
% 6
% . . #
#) % (VSRVLEOH¿MDUXQDHGDGPtQLPDLQIHULRUSDUDORVWUDEDMRVOLJHURVHVGHFLUSXHGHHVWDEOHFHUVHHQWUHFHDxRVODHGDGPtQLPDSDUDWUDEDMRVTXHQR VHDQVXVFHSWLEOHVGHSHUMXGLFDUODVDOXGRHOGHVDUUROORGHORVQLxRVQLLQWHU¿HUDQFRQVXDVLVWHQFLDDODHVFXHOD(QHOFDVRGHXQSDtVTXHHVWDEOH]FD
& %
& ,1)250(62%5((/75$%$-2,1)$17,/
"
( I=G( % $ % $ ( " $9 ' . %
@ #
$9 "
' ' L 9
$(HVWDEOHFLPLHQWRVXR¿FLQDV7 $
+(( 6 " % 6" %
)
F %
"
C"'#D'"E;& > : $1&$! " 1!>
*A > ,! C
2D > )! 3! +!
#>&1!? " 0 > > 0 > 0/ > 09
?9,!/5BD/9/9A D/&/5B
<9 #;":'&$ 1;: $?&$!
7 "
: F
( % #
6L HO WLHPSR GH GHVFDQVR
% 0 1
% ' "
0 " " " " ./ %
6 ORTXHVLJQL¿FDTXHVLHQXQDVH
6 4
8
4 =' (2 *( %
4 ? 6LVHWUDEDMDVHGXUDQWHVHPDQDV\XQGtDVHUtDQKRUDVDODxRVLQFRQWDUYDFDFLRQHVQLIHVWLYRV 3RUORFXDOOHUHVWDPRVGtDVODERUDEOHVGHYDFDFLRQHV\ORVGtDVIHVWLYRVTXHHTXLYDOHQFDGDXQR 9;
% : 88 - 9; - W ) 2 %
? A E
2=9 #
6 #
'( A E
=9 "
% =E(5
? 2
:
,
- 0 R¿FLDOHV %
F % (
' " 'H¿QLUVLVWHPDVGHFRQWUDWDFLyQQRGLVFULPLQDWRULRV ,' " % '.
A' ' '" ' .
)
. % " # ,GHQWL¿FDUHOSRWHQFLDOGHPXMHUHVFRQSRVLELOLGDGHVGHSURPRFLyQ\ ' ' @ " 6
#7 % #" 3RVLELOLWDUODÀH[LELOLGDGGHKRUDULRVGHHQWUDGD\VDOLGD $ ' .
" : ' G %
.
% J %
( 2 . :(
2
'H¿QLUXQSURWRFRORGHSUHYHQFLyQ\GHQXQFLDGHODFRVRVH[XDO\GHO $FRVRVH[XDO\PRUDO F ' "
J*: ,
G% 091 B
=
:2 'H9 MH 3 B6( 6
: 8
& "" 5 8
"
J
# %
3 #
% &
') ,
(2
% MHF " " #
6 .
% #
.2 " (
#
%
# (
6 %
"
8
" & #
%
8 D ¢3XHGHODHPSUHVDDXPHQWDUODMRUQDGDWRGDVHVDVKRUDVGHELGRD .
% ? 1
= " %
% ? =>)
(2
? F ¢4Xp RFXUUH FRQ ODV KRUDV GH PiV UHDOL]DGDV" ¢6H SDJDQ R VH ?
#H&9 MH3' % '(
;
" & 3 #
( ) ? 1 =>)
. ? 1 =>)
? =F. " ? 1 =>) 2. G
3
FFAA?
1 =F( .? =F
#
" .
%
%
#
%
FyQ\XJH"¢3RUTXp"
=6
?9,!/5BD/9/9A D/&/5B0/ %4%9/9A$
('8&$&,Ï1(19$/25(6(1(/081'2/$%25$/
C- .);>&. - .E;&&"#;&$'F /DSURSXHVWDGH¿MDUFXRWDVSDUDSXHVWRVGLUHFWLYRV 6HFRQRFHFRPR³7HFKRGH&ULVWDO´DTXHOWHFKRTXHVLHQGRLQYLVLEOHTXHH[LVWHHQODVHPSUHVDVHLPSLGHDODVPXMHUHVDVFHQGHUDSXHVWRVGHGLUHFFLyQ\UHVSRQVDELOLGDG8QDGHODVSURSXHVWDVSDUDVDOYDUORHV¿MDUXQDVFXRWDVSDUDTXHDVFLHQGDQXQSRUFHQWDMHGHPXMHUHVDHVRVSXHVWRV 36
NC-(9*(( FO /DSURSXHVWDGH¿MDUFXRWDVSRUVH[RVHQSXHVWRVGLUHFWLYRVKDFHWHPHUSRUHOSHVRGHORVPpULWRV/RVH[SHUWRV # &DVLXQGHORVWLWXODGRVXQLYHUVLWDULRVHQOD8QLyQ(XURSHDVRQPXMHUHV6LQHPEDUJRDSHQDVRFXSDQXQGHORVSXHVWRVGHUHVSRQ & %
' "6 * % #
" PXQGRHPSUHVDULDOODGL¿FXOWDGGHFRPSDJLQDUODFDUUHUDFRQODYLGDSHUVRQDO\IDPLOLDU\XQDVSROtWLFDVGHFRQFLOLDFLyQD~QHQSDxDOHVQR C
# (
" #
3 #
" 2 ( D % #
#
. ( ' " " =. . ? /DVLWXDFLyQFDPELDGHSDtVDSDtV(Q6XHFLD\)LQODQGLDPiVGHOGHORVFRQVHMHURVGHDGPLQLVWUDFLyQGHODVJUDQGHVHPSUHVDVVRQ PXMHUHVHQ/X[HPEXUJR3RUWXJDOR0DOWDVRQPHQRVGHO(OSDQRUDPDHVWDQGHVRODGRUTXHKDFHXQRVGtDVOD8(GLRXQXOWLPiWXPD ODVHPSUHVDV6LQRLQFRUSRUDQDPiVPXMHUHVDSXHVWRVGLUHFWLYRVVHLQVWDXUDUiQPHGLGDVFRUUHFWRUDV 2( -
(
5 - '
4H ORVFRQVHMRVGHDGPLQLVWUDFLyQ%pOJLFDHVWXGLDXQDPHGLGDVLPLODU(Q(VSDxDODOH\GHLJXDOGDG¿MDXQREMHWLYRGHSDULGDGSDUDHO 3HURHVVRORXQDUHFRPHQGDFLyQ$XQTXHVHKDDYDQ]DGRTXHGDPXFKRFDPLQRSRUUHFRUUHUODVPXMHUHVRFXSDQXQGHORVSXHVWRVGH UHVSRQVDELOLGDGGHODVHPSUHVDVGHO,EH[HQUHSUHVHQWDEDQVyORXQ &DUPHQ1DYDUURGLUHFWRUDJHQHUDOGH,JXDOGDGD¿UPDTXHQRVHGHVFDUWDDSOLFDUFXRWDVVLSDVDGRHOSOD]RTXHPDUFDODOH\ORVUHVXOWDGRV % J '. #
'1&
(OPi[LPRGHGtDVGHLQGHPQL]DFLyQ SRU PRGL¿FDFLyQ VXVWDQFLDO GHO FRQWUDWR VRQ GtDV\QRGtDV /HH HO µ&DVR 3UiFWLFR ¶ HQ OD SiJLQD \ REVHUYD TXp VXFHGH DO FDOFXODU OD LQGHPQL]DFLyQ
I@
'ODPRGL¿FDFLyQ .(ODPRGL¿FDFLyQHQHOSOD]RGHGtDVKiELOHVDO-X]JDGRGHOR6RFLDO &X %(HOFRQWUDWRFRQXQDLQGHPQL]DFLyQGH ,FRQXQPi[LPRGHGtDVGH VDODULRPHVHV ( QHOVXSXHVWRGHTXHODPRGL¿FDFLyQVXSRQJDXQ (% SRGUiSHGLUOD H[WLQFLyQGHOFRQWUDWRFRQXQDLQGHPQL]DFLyQGH,FRQXQPi[LPRGHGtDV /D PRGL¿FDFLyQ FROHFWLYDDOLJXDOTXHHQHOWUDVODGRFROHFWLYRVXUJHFXDQGRVHPRGL¿FDHQHVH PLVPRQ~PHURGHWUDEDMDGRUHV5HTXHULUiXQ (GHPi[LPRGtDVFRQORV 0 GHORVWUDEDMDGRUHV8QDYH]¿QDOLFHHOSHULRGRGHFRQVXOWDV I,GHQRWL¿FDGD ODGHFLVLyQSRUODHPSUHVD\D +ODPRGL¿FDFLyQ6LKD\GHVDFXHUGRORVUHSUHVHQWDQWHV SXHGHQDFXGLUDO7ULEXQDO6XSHULRUGH-XVWLFLDRDO-X]JDGRGHOR6RFLDOVHJ~QVLVXSHUDHOiPELWRGHXQD SURYLQFLDRQR
?9):B9%"%/%J$?$#A$%J'1&
/DOLEHUWDGVLQGLFDOQRVLHPSUH KD VLGR UHFRQRFLGD FRPR XQ GHUHFKR GH ORV WUDEDMDGRUHVVLQRTXHLQFOXVR KD VLGR FRQVLGHUDGD XQ GHOLWR $ QLYHO PXQGLDO HV OD 2,7 ODTXHDSUXHEDHQORVDxRV \ORVFRQYHQLRV Q~PHURV\SDUDUHFRQRFHUHVWHGHUHFKRHOFXDO QRHVUDWL¿FDGRSRU(VSDxD KDVWD
/RVVLQGLFDWRVHVWiQ % GHVGHSXHVDQWHULRUPHQWHVHFRQVLGHUDEDLOHJDO WDQWRFUHDUVLQGLFDWRVFRPRSHUWHQHFHUDHOORV&RQOD: ( &GHODOLEHUWDGVLQGLFDOSDVDDVHUXQGHUHFKRIXQGDPHQWDOGHWRGRVORVFLXGDGDQRVHOFXDOYLHQHUHFRJLGRHQVXDUWtFXOR /DOLEHUWDGVLQGLFDOWLHQHGRVYHUWLHQWHV %0 /DSRVLWLYDHVWDEOHFHTXHWRGRVORVFLXGDGDQRVWLHQHQGHUHFKRDD¿OLDUVHDXQVLQGLFDWRTXHHOLMDQ \DGDUVHGHEDMDYROXQWDULDPHQWH\WDPELpQD+( $HVWRVVHOHVUHFRQRFHODSRVLELOLGDG GHFRQIHGHUDUVHFRQRWURVVLQGLFDWRV 6LQHPEDUJRODOLEHUWDGVLQGLFDOQRVRORHVD¿OLDUVHDXQVLQGLFDWRRFUHDUORVLQRTXHWDPELpQH[LVWHOD OLEHUWDGVLQGLFDO %QDGLHSXHGHVHUREOLJDGRDSHUWHQHFHUDXQVLQGLFDWR(QGH¿QLWLYDOD&RQVWLWXFLyQHVWDEOHFHWDQWRODOLEHUWDGGHD¿OLDUVHFRPRODGHQRD¿OLDUVH
326,7,9$ 'HUHFKRDD¿OLDUVH\GDUVHGHEDMD $IXQGDUVLQGLFDWRV\FRQIHGHUDFLRQHV
/,%(57$' 6,1',&$/
1(*$7,9$ 'HUHFKRDQRD¿OLDUVH
3RUHOORGHELGRDTXHH[LVWHOLEHUWDGVLQGLFDOSRVLWLYD\QHJDWLYDDODKRUDGHUHSUHVHQWDUDORV FRPSDxHURVGHWUDEDMRHQODHPSUHVDQRHVREOLJDWRULRSHUWHQHFHUDXQVLQGLFDWR\TXHHOVLQGLFDWRWHHOLMD SDUDVHUUHSUHVHQWDQWHVLQRTXHVHSHUPLWHTXHORVWUDEDMDGRUHVYRWHQGLUHFWDPHQWHDVXVUHSUHVHQWDQWHVIRUPHQSDUWHRQRGHXQVLQGLFDWR'HDKtTXHH[LVWDQRPDQHUDVGH 9 ( IRUPDGDSRUORVGHOHJDGRVGHSHUVRQDO\ORVPLHPEURVGHOFRPLWpGH HPSUHVDTXHKDQVLGR %95( 0
$HVWDVHOHFFLRQHVVHSXHGHQ 9 TXHQRSHUWHQHFHQDQLQJXQRGHHOORV$OVHUHOHJLGRVSRUODSODQWLOODGHOD HPSUHVDYDQDUHSUHVHQWDUDWRGRHOSHUVRQDOGHODPLVPD OVRQORVGHOHJDGRVVLQGLFDOHV\VHFFLRQHVVLQGLFDOHVTXHKDQVLGR 0 % SDUDUHSUHVHQWDUDORVPLVPRVGHQWURGHODHPSUHVD$OVHUYRWDGRVSRUVX SURSLRVLQGLFDWRVRORYDQDUHSUHVHQWDUDHVHVLQGLFDWRQRDWRGRHOSHUVRQDOGHODHPSUHVD
5(35(6(17$&,Ï1 81,7$5,$ '2602'(/26 '( 3$57,&,3$&,Ï1 5(35(6(17$&,Ï1 6,1',&$/
&20,7e '((035(6$ '(/(*$'26 '(3(5621$/ '(/(*$'26 6,1',&$/(6 6(&&,21(6 6,1',&$/(6
?93#/D %%#/%J9A!B$ D/&/5/9BDA$
< ( /DUHSUHVHQWDFLyQXQLWDULDHVWiIRUPDGDSRUORVUHSUHVHQWDQWHVTXH % 95( $OVHUHOHJLGRVSRUODSODQWLOODGHOFHQWURGHWUDEDMR UHSUHVHQWDQDpVWDHQVXWRWDOLGDGDOFRQWUDULRGHORTXHVXFHGHFRQORVGHOHJDGRVVLQGLFDOHVTXHVROR UHSUHVHQWDQDVXVLQGLFDWR
'H VRQ66HWUDWDGHXQSURFHVRODUJR\FRPSOHMRGRQGHVRORYDPRVDGHVWDFDUODVVLJXLHQWHVFDUDFWHUtVWLFDV 7 R
( UWRGRVORVPD\RUHVGHDxRVTXHWHQJDQXQDDQWLJHGDGGHDOPHQRV PHVHV\SXHGHQYRWDUWRGRVORVPD\RUHVGHDxRVTXHWHQJDQXQDDQWLJHGDGPtQLPDGHPHV HVWiIRUPDGDSRUXQSUHVLGHQWHHOWUDEDMDGRUPiVDQWLJXR\YRFDOHVHOPiV PD\RU\HOPiVMRYHQHQHGDG+D\XQDPHVDHOHFWRUDOFDGDWUDEDMDGRUHVRIUDFFLyQSRUFDGDXQR GHORVFROHJLRVHOHFWRUDOHV 6LKD\DOPHQRVWUDEDMDGRUHVKD\XQ5GHHPSUHVD\VHIRUPDQ% XQRSDUDWpFQLFRV\DGPLQLVWUDWLYRVFXHOOREODQFR \RWURSDUDRSHUDULRVWUDEDMDGRUHVFXDOL¿FDGRV\ QRFXDOL¿FDGRVFXHOORD]XO 3RUWDQWRFDGDVHFFLyQGHWUDEDMDGRUHVHOLJHDVXVUHSUHVHQWDQWHV
C"'#D'"E;&
A /7 $ 7 % C 9 H >
B 8 >
F
(# B "
(# .
"
F
F F )
F #
# @
@
2. % 6 % '6 F
% ,.
% R
% #
) @
% F
6.
,
MH ? #
& #
& & 2
&
#
% $
"
6
<
".
6MH 0$ C
0 7
?911A:AD6A%/$) " ? 4E1 R " =#) ? 5E1 " ) =.
"? =F.
) . %. % ? 1 =F( .
% &1!? " 0 "#
0/ 8 0 0/ 04 > A 0$
7 0$ 04
?91*BD%A /%J!/&BD/!
<$(+ =E(5+ "3RGUtDPRVGH¿QLUODFRPRODVXFHVLyQGHDFWLYLGDGHV\SXHVWRVGHWUDEDMRTXHGHVHPSHxDPRVDORODUJRGH " % #
"
% '
SODQL¿FDUVH\
" \
" ' % 3 ( ) ( ' % " (VWDSODQL¿FDFLyQVHGLVHxDEiVLFDPHQWHGHVGH + + ( 0 *( X 6 ) #
& )
" ? H ¢4XpSHUVSHFWLYDVODERUDOHVOHYHV"¢(QTXpWHJXVWDUtDWUDEDMDUDO¿QDOL]DUHOFLFOR" '1 =F
#
( '(
? = #)? 1 C
' '
: =$.
"
DxRVDO¿QDOL]DUHOFLFOR"¢) " ?
J 7JRF3* 3R G @R3R A "
"
. #
6 D O : :LLNNN
L" LKK 1
=>) #
"
? 1
=F
#
.
%?
J6 (
" F % " % @ " #
' - #) + +
' "
2 *(5( *(5( 3&
(,(( #
'
* " ' #
@< 9 J " " .
" " #
% " . (
% ' " . F ( " #
( "
%
( " " +:
C"'#D'"E;&)
.? =F( ? =>) ? =>)
%?
?91*BD%A /%J!/&BD/!
@BJ*3R * 3 *@!,R3 " +
"X +
¢3RUTXpHVFRJLVWHLVORVHVWXGLRVTXHKDEpLVUHDOL]DGR"
¢&RPR FUHpLV TXH RV KDQ SUHSDUDGR YXHVWUDV H[SHULHQFLDV SURIHVLRQDOHV ?
(V PX\ LPSRUWDQWH XQDUHVSXHVWD RUGHQDGD FURQROyJLFDPHQWH \ VX¿FLHQWHPHQWHMXVWL¿FDGD+D\TXHHYLWDUUHVSXHVWDVFRPR³SRUTXHQRVDEtDTXpKD- ¢&UHpLVTXHVLQH[SHULHQFLDSRGpLVWUDEDMDUHQHVWHSXHVWRGHWUDEDMR"+D\ FHU´R³SRUTXHODQRWDQRPHGDEDSDUDKDFHURWUDFRVD´ #
#
'
2
". . ¢&yPR KDQ LQÀXLGR YXHVWURV HVWXGLRV HQ HO GHVDUUROOR GH YXHVWUD FDUUHUD ' ? ¢4XpIXQFLRQHVKDFtDLVHQHOWUDEDMRDQWHULRU" ¢4XpPyGXORV\DVLJQDWXUDVRVLQWHUHVDURQPiV"¢)
&
*
% ? =>)
% ? ¢&XiOHVVRQODVGL¿FXOWDGHVTXHHQFXHQWUD1RHOLDHQFXDQWRDOHYDQWDUSHVROOHYDU]DSDWRVGHVHJXULGDGHWF"¢/DVVXSHUD" 4 =>) % %? = #)
#
? 5 =F
#
% % % ? @6 ; =F(
#
6 ?
4
?91*BD%A /%J!/&BD/!0/ %4%9/9A$
' =MH1 1!&$&-. "W: $1.'"
3$DAF @R3J@3F,X* :
FAF,*@A » : . . < .
#
DSRUWHQH[SHULHQFLDELHQGH¿QLGDHQFRFLQDUHVROXWLYDVSROLYDOHQFLDRUJDQL]DFLyQ\VREUHWRGRTXHVHSDWUDEDMDUHQHTXLSR » : F G D
»@ # :
FAF,*@A ' ( : . . < .
WDQWHTXHORVFDQGLGDWRVGHPXHVWUHQ\DSRUWHQH[SHULHQFLDELHQGH¿QLGDHQFRFLQDUHVROXWLYDVSROLYDOHQFLDRUJDQL]DFLyQ\VREUHWRGR #
% #
%
5 5 & 7
" 6
) *
F ' #
"" B "" '
6 (
6
"
,
'
!+?*** )1***' 6HRIUHFH7LSR&RQWUDWR,QGH¿QLGR-RUQDGDODERUDO&RPSOHWD
J
6 ( $ 3 A 0 6 ' 6 1 % : $ 0 1: * * "" B * ' 6 0 1:
) 2 2SRUWXQLGDGHVGHOHQWRUQR &RQWUDWRLQGH¿QLGR6HFWRUTXHVHYHPHQRVDIHFWDGRSRUODFULVLV 3 6 0 1: 3
6 >
' >
' % G . F '
0 " 1 ( $3A ' 6 ( ( #6( #
6
7 '
'"
'
'. 6 ( $3A
4MH:'.1'&-.&"&$1':!U$ ')') "''-;&.1'
R #
. '
" #
6 ( $3A @ #
('
#
. '
% " IMH&:;..!:;;)?!1'& 1;-.!)&.'!)'J&$
D 'HVSXpVGHOHHUHOWH[WRGHODDFWLYLGDGVLJXLHQWH³¢7HQJRTXHVHUVLQFHURHQPL&XUUtFXOXP"´UHGDFWDWXFXUUtFXOXPVHJ~QHOPRGHORR¿FLDO GHOD8QLyQ(XURSHDR«VHJ~QWXLQVWLQWRFUHDWLYR5HFXHUGDTXHHOPRGHORR¿FLDOGHFXUUtFXOXPHXURSHRORSRGUiVHQFRQWUDUHQHOHQODFHGHO
1 =>)
2? 1 , #) % '
" '
I
?91*BD%A /%J!/&BD/!0/ %4%9/9A$
' C1&$J E;&"&."!$:&. &$)!:;..D:; F
3
#
% R
"
" #
QHVDXQSXHVWRGHWUDEDMRVHSXHGHQHVIXPDU3HURGHFLUODYHUGDGQRHTXLYDOHDFRQWDUORWRGRVLVHFUHHTXHQRVHHVORVX¿FLHQWHPHQWH #
( #
" 3 /DSHUVRQDOLGDGODDFWLWXG\ODFDSDFLGDGSDUDLQQRYDUSHVDQFDGDYH]PiVHQORVPDVLYRVSURFHVRVGHVHOHFFLyQGHSHUVR QDO$GHPiVGHIRUPDFLyQDFWLWXG\DSWLWXGVHSLGHFDSDFLGDGSDUDLQQRYDU&DGDYH]KD\PiVFDQGLGDWRVTXHGHVLQÀDQHO FXUUtFXOXPSDUDVHUDFHSWDGRV /HRQRU+DURVLHPSUHHQWUHJDVXFXUUtFXOXPHQPDQR³3DUDTXHYHDQFyPRVR\´H[SOLFDHQXQRGHORVVDORQHVGHOKRWHO&DWDORQLD3OD]DGH%DUFHORQDHQ
.
" #
(
6
UD GH/OREUHJDWXQDVSUXHEDVTXHDUUDQFDURQFRQPiVGHFXDWURPLODVSLUDQWHV/HRQRUDSHVDUGHVXPRGHVWRFXUUtFXOXPHVWiHQODUHFWD¿QDO /R . " #
49 & #
#
% 2 - 2 - #
"
" " " PLVJDQDV) #
" ( "? F ¢([LVWHXQSHU¿OWLSRGHFDQGLGDWRVDORVSXHVWRV"5D]RQDODUHVSXHVWD 1 =F( . ?
3
?91*BD%A /%J!/&BD/!0/ %4%9/9A$
' 3MH: )- .1')!&$1 "&$'&$1.&?!"1'
6HxDODVLODVVLJXLHQWHVD¿UPDFLRQHVVRQYHUGDGHUDVRIDOVDV\H[SOLFDSRUTXp 1RKD\TXHVDEHUVHGHPHPRULDHOSURSLRFXUUtFXOXPHOHQWUHYLVWDGRU\DORWLHQHGHODQWH 1RLPSRUWDQGHPDVLDGRORVJHVWRVQLODPLUDGDORLPSRUWDQWHHVHOFXUUtFXOXP /OHJDUFRQPLQXWRVGHDQWHODFLyQSRUVLDFDVR 3UHJXQWDUTXpREMHWLYRVWLHQHODHPSUHVD\TXLpQVHUiWXUHVSRQVDEOHGLUHFWR 'HFLUTXHHUHVPX\WUDEDMDGRUHQHOWUDEDMRDQWHULRUWXVFRPSDxHURVQRKDFtDQELHQHOWUDEDMR\W~HUDVHOTXHWUDEDMDEDPiV (VPX\LPSRUWDQWHLQIRUPDUPHSUHYLDPHQWHVREUHODHPSUHVDHQODFXDOYR\DWUDEDMDU $FHSWDUFXDOTXLHUVDODULRRQRSUHJXQWDUQXQFDHOVDODULRVRORFXDQGR\DHVWDPRVWUDEDMDQGR 'HFLUTXHHVWiVSHUIHFWDPHQWHFDSDFLWDGRSDUDHOSXHVWRGHWUDEDMR MH: ) .&"- $&.''"46-.&J;$1'")S"&"-!$ "'"
N 3) :LLNNN L NL "- -%-444
( MHC)&&$1.&?!"1'"F
1RVSRQHPRVHQJUXSRVGHWUHVSHUVRQDVVHHOHJLUiXQDRIHUWDGHHPSOHRUHODFLRQDGDFRQYXHVWURSHU¿OSURIHVLRQDO1RVGLYLGLUHPRVORVSDSHOHV HQWUHYLVWDGRUHQWUHYLVWDGR\REVHUYDGRUeVWH~OWLPRVH¿MDUiHQODFRPXQLFDFLyQYHUEDO\QRYHUEDOGHOHQWUHYLVWDGR(OHQWUHYLVWDGRUVHSUHSD( " 6( %
#
) 2 ( N
3) ) ) 6 )
6 '1&
R $ ,$@3YBA 3#
6
#
" K ( #
7
(
" , : 6RLVHOHTXLSRGHIHVWHMRV\FHOHEUDFLRQHVGHYXHVWURFLFORIRUPDWLYR'HEpLVUHXQLUXQDFDQWLGDGGHGLQHURSDUDUHDOL]DUHOYLDMHGH¿QGHFXUVR
" ) # : 1 ' E (OPRGRGH¿QDQFLDFLyQ 1 >
$ . 3G 3 ' ( # #
( '( R
% % #
#
K .
" (
)
" "%
" VHVLRQHVDOEXVFDUUHFXUVRV\IXHQWHVGH¿QDQFLDFLyQUHDOHV
7 : 10ADA&DB
3 " ,
*0%4A$ %6/9BD
" ) '(
,0BBD9%/9BD
( @
%
20%:#?!$BD
* ' ( " (
)0:B% BD0 A4/!?/9BD
3 "
3 )
@ #
) (
(
View more...
Comments