• No results found

UHJOHUNUlYVLQWHWLOOVWnQGI|UYHUNVDPKHWHQ0RWGHQQDEDNJUXQGJ|U

1DWXUYnUGVYHUNHWEHG|PQLQJHQDWWNRPPXQHUQDE|UYDUDDQVYDULJDI|UWLOOV\QHQ

|YHUYHUNVDPKHWHUVRPVNXOOHNRPPDDWWRPIDWWDVDYDOOPlQQDUHJOHU



 0DUNRFKPLOM||YHUGRPVWROHQVGRP

 6DPPDQIDWWQLQJDYGRPHQ



,HWWPnOVRPQ\OLJHQDYJMRUWVDY0DUNRFKPLOM||YHUGRPVWROHQWRJGRPVWROHQ

VWlOOQLQJWLOOHQUDGYLNWLJDIUnJRUVRPEHU|UGHWDNWXHOODXSSGUDJHW7UDILNYHUNHW

KDGHJMRUWHQDQPlODQRPVDPUnGHQOLJWNDS†PLOM|EDONHQI|UXSSOlJJQLQJ

DY|YHUVNRWWVPDVVRUVRPJUlYWVXWLVDPEDQGPHGE\JJQDWLRQDY(L.DUOVWDGV

NRPPXQ(QOLJWNDS†PLOM|EDONHQVNDHQYHUNVDPKHWHOOHUnWJlUGVRPLQWH

RPIDWWDVDYWLOOVWnQGVHOOHUDQPlOQLQJVSOLNWHQOLJWDQGUDEHVWlPPHOVHURFKVRP

NDQNRPPDDWWYlVHQWOLJWlQGUDQDWXUPLOM|QDQPlODVI|UVDPUnGKRVGHQP\QGLJKHW

VRPXW|YDUWLOOV\Q/lQVVW\UHOVHQVRPlUWLOOV\QVP\QGLJKHWDYYLVDGHDQPlODQPHG

KlQYLVQLQJWLOODWWGHQDQPlOGDYHUNVDPKHWHQXWJ|UWLOOVWnQGVSOLNWLJGHSRQHULQJDY

DYIDOOHQOLJWNDS†PLOM|SU|YQLQJVI|URUGQLQJHQ



0DUNRFKPLOM||YHUGRPVWROHQNRQVWDWHUDGHLQOHGQLQJVYLVDWWGHXWJUlYGD

PDVVRUQDlUDYIDOOHQOLJWNDS†PLOM|EDONHQHIWHUVRPGHQDQPlOGD

XSSOlJJQLQJHQlUHWWVlWWI|U7UDILNYHUNHWDWWJ|UDVLJDYPHGPDVVRUQD'RPVWROHQ

WRJGlUHIWHUVWlOOQLQJWLOORPKDQWHULQJHQXWJ|UERUWVNDIIDQGHHOOHUnWHUYLQQLQJDY

DYIDOO0HGnWHUYLQQLQJDYVHVHQOLJWNDS†PLOM|EDONHQHQnWJlUGVRPLQQHElU

DWWDYIDOONRPPHUWLOOQ\WWDVRPHUVlWWQLQJI|UQnJRWDQQDWPDWHULDO0HG

ERUWVNDIIDQGHDYVHVDWWJ|UDVLJDYPHGDYIDOOXWDQnWHUYLQQDGHWHOOHUDWWOlPQDGHW

WLOOQnJRQVRPVDPODULQHOOHUWUDQVSRUWHUDUERUWGHW0DUNRFKPLOM||YHUGRPVWROHQ

NRQVWDWHUDGHDWWGHQDNWXHOODXSSOlJJQLQJHQDYPDVVRUXWJ|UHQGHODY

ODQGVNDSVDQSDVVQLQJHQLVDPEDQGPHGDWWSODWVHQI|UGHQEHILQWOLJDYlJHQ

nWHUVWlOOV'HWKDUGRFNLQWHIUDPNRPPLWDWWGHWILQQVQnJRWVlUVNLOWV\IWHPHG

XSSOlJJQLQJHQHOOHUDWWDQQDWPDWHULDOVNXOOHKDDQYlQWVRPLQWHPDVVRUQDIXQQLWV

WLOOJlQJOLJD)|UIDUDQGHWXWJ|UGlUI|ULQWHnWHUYLQQLQJXWDQVNDEHWUDNWDVVRP

ERUWVNDIIDQGHDYDYIDOO



'lUHIWHUWRJ0DUNRFKPLOM||YHUGRPVWROHQVWlOOQLQJWLOORPXQGDQWDJHWL

†DYIDOOVI|URUGQLQJHQlUWLOOlPSOLJWSnGHDNWXHOODPDVVRUQD(QOLJW

EHVWlPPHOVHQVNDLFNHI|URUHQDGMRUGRFKDQQDWQDWXUOLJWPDWHULDOVRPJUlYWVXWL

VDPEDQGPHGHQE\JJYHUNVDPKHWXQGDQWDVIUnQDYIDOOVI|URUGQLQJHQV

WLOOlPSQLQJVRPUnGHRPGHWlUVlNHUVWlOOWDWWPDWHULDOHWNRPPHUDWWDQYlQGDVI|U

E\JJQDWLRQLVLWWQDWXUOLJDWLOOVWnQGSnGHQSODWVGlUJUlYQLQJHQXWI|UGHVRFKDWW

DQYlQGQLQJHQLQWHVNDGDUHOOHULQQHElUQnJRQROlJHQKHWI|UPlQQLVNRUVKlOVDHOOHU

PLOM|Q%HVWlPPHOVHQKDUVLQPRWVYDULJKHWLDUWLNHOFLDYIDOOVGLUHNWLYHW



0DUNRFKPLOM||YHUGRPVWROHQVGRPGHQVHSWHPEHULPnOQU0±6HRFNVn0DUN

RFKPLOM||YHUGRPVWROHQVGRPGHQMDQXDULLPnOQU0±



'RPVWROHQNRQVWDWHUDGHDWWGHQDNWXHOODYHUNVDPKHWHQDYVHUXSSOlJJQLQJDY

FDPLFNHI|URUHQDGHMRUGRFKVFKDNWPDVVRUIUnQWLGLJDUHRH[SORDWHUDG

PDUN0DVVRUQDKDUJUlYWVXWLVDPEDQGPHGE\JJQDWLRQDYQ\YlJRFKNRPPHU

YLGXSSOlJJQLQJHQDWWDQYlQGDVI|UE\JJQDWLRQLVLWWQDWXUOLJDWLOOVWnQG$YVWnQGHW

PHOODQSODWVHQI|UXSSOlJJQLQJHQRFKGHQSODWVGlUPDVVRUQDJUlYWVXWXSSJnUWLOO

K|JVWHQNLORPHWHURFKLQQHElULQJHQVNDGDHOOHUROlJHQKHWI|UPlQQLVNRUVKlOVD

HOOHUPLOM|Q8QGDQWDJHWlUGlUI|UWLOOlPSOLJW0DUNRFKPLOM||YHUGRPVWROHQ

NRQVWDWHUDUYLGDUHDWWEHVWlPPHOVHQHQGDVWPHGJHUXQGDQWDJIUnQ

DYIDOOVI|URUGQLQJHQVWLOOlPSQLQJVRPUnGH%HVWlPPHOVHQLQQHElULQWHDWWPDVVRUQD

lYHQVNDXQGDQWDVIUnQDYIDOOVEHJUHSSHWLNDS†PLOM|EDONHQ0DVVRUQDVND

GlUI|URDYVHWWDWWXQGDQWDJHWlUWLOOlPSOLJWEHWUDNWDVVRPDYIDOOHQOLJWNDS†

PLOM|EDONHQ'HWLQQHElUYLGDUHDWWEHVWlPPHOVHUQDRPKDQWHULQJDYDYIDOOL

NDSPLOM|SU|YQLQJVI|URUGQLQJHQlUWLOOlPSOLJD(QOLJWGRPVWROHQVEHG|PQLQJ

XWJ|UGHQDNWXHOODXSSOlJJQLQJHQHQGHSRQLHQOLJWGHILQLWLRQHQL†DYIDOOV

I|URUGQLQJHQ8SSOlJJQLQJHQlUGlUI|UWLOOVWnQGVSOLNWLJHQOLJWNDS†

PLOM|SU|YQLQJVI|URUGQLQJHQ(IWHUVRPYHUNVDPKHWHQlUWLOOVWnQGVSOLNWLJHQOLJW

PLOM|SU|YQLQJVI|URUGQLQJHQVNDGHQLQWHDQPlODVI|UVDPUnGHQOLJWNDS†

PLOM|EDONHQ/lQVVW\UHOVHQJMRUGHGlUI|UUlWWVRPDYYLVDGH7UDILNYHUNHWVDQPlODQ

RPVDPUnG



0DUNRFKPLOM||YHUGRPVWROHQNRQVWDWHUDUDWWGHQVYHQVNDUHJOHULQJHQlUI|UHQOLJ

PHG(8UlWWHQ$YIDOOVGLUHNWLYHWlUHWWPLQLPLGLUHNWLY'HWILQQVGlUI|ULQJHW

I|UEXGPRWDWWHQPHGOHPVVWDWI|UHVNULYHUWLOOVWnQGVSOLNWI|UHQKDQWHULQJDYPDVVRU

VRPRPIDWWDVDYXQGDQWDJHWLDUWLNHOFLDYIDOOVGLUHNWLYHW'RPVWROHQSnSHNDU

GRFNLHQDYVOXWDQGHNRPPHQWDUDWWGHWLVLWXDWLRQHUVRPGHQI|UHYDUDQGHLPnQJD

IDOOYDUNHQlUHNRQRPLVNWI|UVYDUEDUWHOOHUSUDNWLVNWJHQRPI|UEDUWI|UHQ

YHUNVDPKHWVXW|YDUHDWWDQV|NDRPWLOOVWnQGRFKPDVVRUQDNRPPHULVWlOOHW

WUDQVSRUWHUDVWLOOEHILQWOLJDGHSRQLHU6RPIUDPJnWWVWlOOHUDYIDOOVGLUHNWLYHWLQWH

QnJRWNUDYSnWLOOVWnQGVSU|YQLQJLGHWDNWXHOODIDOOHWRFKGHWKDUHQOLJWGRPVWROHQ

LQWHIUDPNRPPLWQnJUDVNlOI|UDWWDQPlODQLQWHNDQKDQWHUDVLQRPUDPHQI|UHWW

VDPUnGHQOLJWNDS†PLOM|EDONHQ0HGKlQV\QWLOOKXUGHQVYHQVND

ODJVWLIWQLQJHQlUXWIRUPDGILQQVGHWLQWHXWU\PPHI|UQnJRQDQQDQEHG|PQLQJlQ

GHQVRPGRPVWROHQJ|U'RPVWROHQSnSHNDUGRFNDWWGHWNDQILQQDVVNlOI|U

ODJVWLIWDUHQDWW|YHUYlJDRPGHWILQQVEHKRYDYDWWI|UlQGUDUHJHOYHUNHWLQnJRW

DYVHHQGH

 1DWXUYnUGVYHUNHWVDQDO\V



1DWXUYnUGVYHUNHWNRQVWDWHUDUDWW0DUNRFKPLOM||YHUGRPVWROHQVGRPDYVHULFNH

I|URUHQDGHMRUGPDVVRUVRPJUlYWVXWLVDPEDQGPHGE\JJYHUNVDPKHWRFKVRP

DYVHVDQYlQGDVI|UE\JJQDWLRQSnGHQSODWVGlUJUlYQLQJHQXWI|UGHVGYVDYIDOO

VRPlUXQGDQWDJHWIUnQDYIDOOVI|URUGQLQJHQVWLOOlPSQLQJVRPUnGHHQOLJW†

8QGDQWDJHWPRWVYDUDUVnGDQWDYIDOOVRPlUXQGDQWDJHWIUnQDYIDOOVGLUHNWLYHWV

WLOOlPSQLQJVRPUnGHHQOLJWDUWLNHOF0HGEHJUHSSHWDQYlQGDVDYVHVHQOLJW

0DUNRFKPLOM||YHUGRPVWROHQEnGHnWHUYLQQLQJRFKERUWVNDIIDQGH'HWLQQHElU

DOOWVnDWWGHWILQQVYHUNVDPKHWHUVRPXWJ|UERUWVNDIIDQGHLIRUPDYGHSRQHULQJ



VRPWURWVGHWLQWHEHK|YHUWLOOVWnQGVSU|YDVVRPHQGHSRQHULQJRFKDOOWVnLQWH

EHK|YHUXSSI\OODGHNUDYVRPI|OMHUDYI|URUGQLQJHQ  RPGHSRQHULQJDY

DYIDOO,QRPUDPHQI|UUHJHULQJHQVXSSGUDJVND1DWXUYnUGVYHUNHWXWUHGD

I|UXWVlWWQLQJDUQDI|UXQGDQWDJIUnQWLOOVWnQGVRFKDQPlOQLQJVSOLNWHQOLJWNDS

PLOM|EDONHQXWLIUnQI|UXWVlWWQLQJDUQDLDYIDOOVGLUHNWLYHWI|UYHUNVDPKHWHUVRP

EHKDQGODUDYIDOO1DWXUYnUGVYHUNHWVNDYLGDUHI|UHVOnGHDOOPlQQDUHJOHUVRPNUlYV

I|UDWWNXQQDJ|UDXQGDQWDJIUnQDYIDOOVGLUHNWLYHWVEHVWlPPHOVHU1DWXUYnUGVYHUNHW

NRQVWDWHUDUDWWVnGDQDYIDOOVYHUNVDPKHWVRPRPIDWWDVDYGHQDNWXHOODGRPHQRFK

VRPIUDPI|UDOOWEHU|UVDYSXQNWHQLUHJHULQJHQVXSSGUDJLQWHRPIDWWDVDYNUDYSn

WLOOVWnQGHQOLJWDYIDOOVGLUHNWLYHW'HWLQQHElUDWWRP1DWXUYnUGVYHUNHWI|UHVOnUDWW

VnGDQYHUNVDPKHWVNDXQGDQWDVIUnQWLOOVWnQGVSOLNWHQOLJWNDSPLOM|EDONHQRFK

PLOM|SU|YQLQJVI|URUGQLQJHQlUGHWLQWHQ|GYlQGLJWDWWVDPWLGLJWI|UHVOnDOOPlQQD

UHJOHUI|UVnGDQYHUNVDPKHWI|UDWWOHYDXSSWLOODYIDOOVGLUHNWLYHWVNUDY

1DWXUYnUGVYHUNHWGHODU0DUNRFKPLOM||YHUGRPVWROHQVVOXWVDWVDWWGHWRIWDYDUNHQ

lUHNRQRPLVNWI|UVYDUEDUWHOOHUSUDNWLVNWULPOLJWDWWWLOOVWnQGVSU|YDGHQDNWXHOOD

DQYlQGQLQJHQ1DWXUYnUGVYHUNHWlUGlUI|UDYXSSIDWWQLQJHQDWWGHWlUULPOLJWDWWGHQ

DNWXHOODDQYlQGQLQJHQXQGDQWDVIUnQPLOM|SU|YQLQJVI|URUGQLQJHQVWLOOVWnQGVNUDY

'HWlUGlUHPRWLQWHQ|GYlQGLJWDWWYHUNVDPKHWHQLVWlOOHWE|URPIDWWDVDYDOOPlQQD

UHJOHU(QDQPlODQI|UVDPUnGHQOLJWNDS†PLOM|EDONHQNDQLPnQJDIDOOYDUD

PHUlQGDPnOVHQOLJW



Related documents