Ingeniero

%,(19(1,'2 $/ 0$18$/ '( $87235(3$5$&,21 3$5$ (/ 32678/$17( /D 8QLYHUVLGDG 3HUXDQD GH &LHQFLDV $SOLFDGDV 83& WLHQH HO DJUDGR GH GDUOH OD ELHQYHQLGD DO 0DQXDO GH $XWRSUHSDUDFLyQ SDUD HO SRVWXODQWH (Q HVWH FXDGHUQR HQFRQWUDUi WRGD OD LQIRUPDFLyQ QHFHVDULD SDUD SUHSDUDUVH DGHFXDGDPHQWH ORV GLYHUVRV WHPDV \ KDELOLGDGHV TXH VH HYDO~DQ HQ OD (YDOXDFLyQ (VFULWD (VWH PDQXDO GH RULHQWDFLyQ HVWiFRQIRUPDGR SRU PDWHULDOHV H[SOLFDWLYRV VREUH ORV VXVWHQWRV WHyULFRV TXH GHEHQ VHU GRPLQDGRV SDUD UHQGLU VDWLVIDFWRULDPHQWH ODV SUXHEDV GH OD (YDOXDFLyQ (VFULWD (VWH GRFXPHQWR FRQVWD GH WUHV VHFFLRQHV FDGD XQD FRUUHVSRQGLHQWH D XQD SUXHED GH OD (YDOXDFLyQ (VFULWD $SWLWXG 1XPpULFD $SWLWXG 9HUEDO \ +DELOLGDG $QDOtWLFD /RV FRQFHSWRV HVWiQ LOXVWUDGRV FRQ HMHPSORV \ HMHUFLFLRV TXH OH DFRQVHMDPRV LUVLJXLHQGR \ GHVDUUROODQGR MXQWR FRQ OD OHFWXUD /H DFRQVHMDPRV HVWXGLDU GHWDOODGDPHQWH HVWH PDQXDO SDUD UHIRU]DU VXV KDELOLGDGHV FRQ PLUDV D XQ GHVHPSHxR VDWLVIDFWRULR HQ ODV SUXHEDV HVFULWDV GH DGPLVLyQ TXH UHQGLUi HQ EUHYH 8QLYHUVLGDG 3HUXDQD GH &LHQFLDV $SOLFDGDV 83& ³)RUPDPRV OtGHUHV tQWHJURV \ UHDOL]DPRV SURSXHVWDV LQQRYDGRUDV SDUD OD FUHDFLyQ GH XQD QXHYD UHDOLGDG´

0DQXDO GH $XWRSUHSDUDFLyQSDUD HO 3RVWXODQWH



680$5,2 0DWHULDOHV GH 3UHSDUDFLyQ



                                          



$SWLWXG 1XPpULFD $ULWPpWLFD7HRUtD GH &RQMXQWRV &RQMXQWRV 1XPpULFRV 2SHUDFLRQHV %iVLFDV \ 2UGHQ GH 2SHUDFLRQHV &DUDFWHUtVWLFDV ,PSRUWDQWHV GH ORV 1~PHURV 1DWXUDOHV )UDFFLRQHV GH 1~PHURV 1DWXUDOHV 3URSRUFLRQDOLGDG 3RUFHQWDMHV ÈOJHEUD 'HILQLFLRQHV )XQGDPHQWDOHV 3RWHQFLDFLyQ 2SHUDFLRQHV %iVLFDV FRQ ([SUHVLRQHV $OJHEUDLFDV 3URGXFWRV 1RWDEOHV )DFWRUL]DFLyQ 6LPSOLILFDFLyQ GH ([SUHVLRQHV )UDFFLRQDULDV 1RWDFLyQ )XQFLRQDO (FXDFLyQ FRQ XQD,QFyJQLWD ,QHFXDFLyQ FRQ 9DULDEOHV 5HDOHV *HRPHWUtD 3ODQD 6HJPHQWRV ÈQJXORV 3DUDOHOLVPR \ 3HUSHQGLFXODULGDG 3ROtJRQRV 5HJXODUHV 7ULiQJXORV 6HPHMDQ]D GH 7ULiQJXORV 5HODFLRQHV 0pWULFDV HQ HO 7ULiQJXOR 5HFWiQJXOR &XDGULOiWHURV &RQYH[RV &LUFXQIHUHQFLD 3ROtJRQRV \ &LUFXQIHUHQFLD ÈUHDV GH 5HJLRQHV 3ROLJRQDOHV \ &LUFXODUHV $SWLWXG 9HUEDO &RPSUHQVLyQ GH /HFWXUD *HQHUDOLGDGHV 7LSRV GH 3UHJXQWDV ¢&XiO HVOD 0HMRU 0DQHUD GH /HHU ORV 7H[WRV" $QDORJtDV *HQHUDOLGDGHV 7LSRV GH $QDORJtDV &ODYHV SDUD 5HVSRQGHU &RUUHFWDPHQWH 2UDFLRQHV ,QFRPSOHWDV *HQHUDOLGDGHV &ODYHV 3DUD 5HVSRQGHU 2WUDV 0RGDOLGDGHV 9HUEDOHV *HQHUDOLGDGHV 7LSRV GH SUHJXQWDV &ODYHV 3DUD 5HVSRQGHU

                            

                0DQXDO GH $XWRSUHSDUDFLyQ SDUD HO 3RVWXODQWH



        

+DELOLGDG $QDOtWLFD 2UGHQDPLHQWR GH 'DWRV 5HODFLRQHV (VSDFLDOHV /LQHDOHV ± &LUFXODUHV 5HODFLRQHV 7HPSRUDOHV 5HODFLRQHV GH &DQWLGDG &UHFLHQWH ± 'HFUHFLHQWH 5HODFLRQHV GH 3DUHQWHVFR &RPELQDFLyQ GH 'DWRV &RPELQDFLRQHV GH 5HODFLRQHV ,QIHUHQFLDV TXH ,QYROXFUDQ &RQMXQWRV ,QIHUHQFLDV %DVDGDV([FOXVLYDPHQWH HQ &RQHFWRUHV

         

0DQXDO GH $XWRSUHSDUDFLyQ SDUD HO 3RVWXODQWH



 $37,78' 180e5,&$

0DQXDO GH $XWRSUHSDUDFLyQ SDUD HO 3RVWXODQWH





 'HILQLFLRQHV EiVLFDV



$5,70e7,&$

7(25Ë$ '( &21-81726

1RFLyQ GH FRQMXQWR $JUXSDFLyQ R FROHFFLyQ GH ³REMHWRV´ TXH OODPDPRV HOHPHQWRV 3HUWHQHQFLD 6L XQ HOHPHQWR [SHUWHQHFH DO FRQMXQWR $ GHQRWDUHPRV [ ∈ $  3RU HMHPSOR 6L $ = ^` VH SXHGH GHFLU TXH  ∈ $  \ TXH  ∉ $  ,QFOXVLyQ 6H GLFH TXH $ HVWi LQFOXLGR HQ % R TXH $ HV VXEFRQMXQWR GH % VL \ VyOR VL WRGR HOHPHQWR GH $ HVWi HQ %  6H GHQRWD $ ⊂ %  3RU HMHPSOR 6L $ = ^`  % = ^` \ & = ^` HQWRQFHV & ⊂ $  \D TXH WRGR HOHPHQWR GH & HVWi WDPELpQ HQ $  3RU RWUR ODGR & QR HV VXEFRQMXQWR GH %...