Sie sind auf Seite 1von 5




 81,9(56,'$'1$&,21$/$87Ï120$'(0e;,&2

)DFXOWDGGH&LHQFLDV

3ODQGHHVWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD



‘†‡Ž‘•†‡—’‡”˜‹˜‡…‹ƒ›†‡‡”‹‡•†‡‹‡’‘

&ODYH 6HPHVWUH &UpGLWRV ÈUHD

   
&DPSRGH
3UREDELOLGDG\HVWDGtVWLFD
FRQRFLPLHQWR
(WDSD
3URIXQGL]DFLyQ

&XUVR ; 7DOOHU  /DE  6HP  
0RGDOLGDG  7LSR 7 ; 3  73  

2EOLJDWRULR ; 2SWDWLYR  
&DUiFWHU  +RUDV
2EOLJDWRULR(  2SWDWLYR(  
 6HPDQD 6HPHVWUH
 7HyULFDV 7HyULFDV
 3UiFWLFDV 3UiFWLFDV
 7RWDO 7RWDO

6HULDFLyQ

1LQJXQD  
2EOLJDWRULD  
$VLJQDWXUDDQWHFHGHQWH 

$VLJQDWXUDVXEVHFXHQWH 

,QGLFDWLYD ; 
$VLJQDWXUDDQWHFHGHQWH 0RGHORV1R3DUDPpWULFRV\GH5HJUHVLyQ

$VLJQDWXUDVXEVHFXHQWH $GPLQLVWUDFLyQ$FWXDULDOGHO5LHVJR2SWDWLYDVGHOiUHDGH
 SUREDELOLGDG\HVWDGtVWLFD

2EMHWLYRVJHQHUDOHV

x &RQRFHUHODQiOLVLVGHGDWRVUHODFLRQDGRVFRQWLHPSRVGHIDOODRWLHPSRVGHRFXUUHQFLDGHXQ
HYHQWRHVSHFtILFR
x 6HU FDSD] GH KDFHU LQIHUHQFLD DFHUFD GH OD GLVWULEXFLyQ GH ORV WLHPSRV GH VXSHUYLYHQFLD
XVXDOPHQWHFRQGDWRVFHQVXUDGRV
x 3RGHU KDFHU LQIHUHQFLD VREUH XQ PRGHOR HVWDGtVWLFR TXH UHODFLRQD XQD YDULDEOH XVXDOPHQWH
WLHPSR FRQ XQD YDULDEOH GH UHVSXHVWD /D FXDOLGDG HVHQFLDO GH ODV VHULHV HV HO RUGHQ GH ODV
REVHUYDFLRQHVGHDFXHUGRDODYDULDEOHWLHPSR

3ODQGH(VWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD
)DFXOWDGGH&LHQFLDV81$0

2EMHWLYRVHVSHFtILFRV

x &RQRFHU ORV PRGHORV GH VXSHUYLYHQFLD VXV DOFDQFHV OLPLWDFLRQHV VXV IXQGDPHQWRV PDWHPiWLFRV \
DSOLFDFLRQHVXVDQGRSDTXHWHVGHFyPSXWRHVWDGtVWLFR
x &RQRFHUORVPRGHORVGHVHULHVGHWLHPSRVXVDOFDQFHVOLPLWDFLRQHVVXVIXQGDPHQWRVPDWHPiWLFRV\
DSOLFDFLRQHVXVDQGRSDTXHWHVGHFyPSXWRHVWDGtVWLFR



ËQGLFHWHPiWLFR
+RUDV
7HPD VHPHVWUH

7HyULFDV 3UiFWLFDV
 $QiOLVLVGHVXSHUYLYHQFLD  
 6HULHVGHWLHPSR  
7RWDO  

&RQWHQLGR7HPiWLFR
 7HPD\VXEWHPDV
$QiOLVLVGHVXSHUYLYHQFLD 
      
 ,QWURGXFFLyQ
 &DUDFWHUtVWLFDVGHORVGDWRVGHVXSHUYLYHQFLD
 7LHPSRGHIDOODRVXSHUYLYHQFLD
 &HQVXUD
 7LSRVGHFHQVXUD
&HQVXUDWLSR,
&HQVXUDWLSR,,
&HQVXUDDOHDWRULD
&HQVXUDSRUODGHUHFKD
&HQVXUDSRUODL]TXLHUGD
&HQVXUDSRULQWHUYDOR
 7UXQFDPLHQWR
 7UXQFDPLHQWRSRUODGHUHFKD
7UXQFDPLHQWRSRUODL]TXLHUGD
 )XQFLRQHVLQYROXFUDGDVHQHODQiOLVLVGHVXSHUYLYHQFLD
 )XQFLyQGHVXSHUYLYHQFLD
 )XQFLyQGHULHVJR
 )XQFLyQGHULHVJRDFXPXODGR
 )XQFLyQGHPHGLDUHVLGXDO
 5HODFLRQHVHQWUHODVIXQFLRQHVSDUDHODQiOLVLVGHVXSHUYLYHQFLD
 &DVRFRQWLQXR
 &DVRGLVFUHWR
 0pWRGRVQRSDUDPpWULFRVSDUDHODQiOLVLVGHVXSHUYLYHQFLD
 7DEODGHYLGD
 7DEODGHYLGDPRGLILFDGD
 (VWLPDGRU.DSODQ\0HLHU .±0 GHODIXQFLyQGH
VXSHUYLYHQFLD
3ODQGH(VWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD
)DFXOWDGGH&LHQFLDV81$0

 8VRGHOHVWLPDGRU.0SDUDSURSRQHUXQPRGHORSDUDPpWULFR
 (VWLPDGRU1HOVRQ\$DOHQGHODIXQFLyQGHULHVJRDFXPXODGR
 0RGHORVSDUDPpWULFRVGHXVRFRP~Q\VXHVWLPDFLyQ
  /DYHURVLPLOLWXGSDUDORVGLVWLQWRVWLSRVGHFHQVXUD
  (OPRGHORH[SRQHQFLDO\VXHVWLPDFLyQ
  (VWLPDFLyQGHOPRGHOR:HLEXOO
  (VWLPDFLyQGHOPRGHOR/RJ1RUPDO
  (VWLPDFLyQGHOPRGHOR*DPPD
 (VWLPDFLyQGHRWURVPRGHORV
 &RPSDUDFLyQGHSREODFLRQHVPHGLDQWHSURFHVRVQRSDUDPpWULFRV
  ,QWURGXFFLyQ
  3UXHED/RJ5DQN
 3UXHED:LOFR[RQ
 0RGHORVFRQFRYDULDEOHV
  ,QWURGXFFLyQDGLYHUVRVPRGHORVFRQFRYDULDEOHV
  (OPRGHORGH&R[GHULHVJRVSURSRUFLRQDOHV
  $MXVWHGHOPRGHORGHULHVJRVSURSRUFLRQDOHV
  ,QWHUSUHWDFLyQGHORVSDUiPHWURV
  9HULILFDFLyQGHOVXSXHVWRGHULHVJRVSURSRUFLRQDOHV
  %RQGDGGHDMXVWHGHOPRGHOR
  'LDJQyVWLFRGHOPRGHOR
  ([WHQVLyQGHOPRGHORGHULHVJRVSURSRUFLRQDOHV
  &RYDULDEOHVGHSHQGLHQWHVGHOWLHPSR
 ,QWURGXFFLyQDPRGHORVPXOWLHVWDGRV

6HULHVGHWLHPSR  
   
 ,QWURGXFFLyQDODQiOLVLVGHVHULHVGHWLHPSR
  (MHPSORV
  2EMHWLYRVGHODQiOLVLVGHVHULHVGHWLHPSR
  6HULHVGHWLHPSRYLVWDVFRPRSURFHVRVHVWRFiVWLFRV
  8VRGHSROLQRPLRV\RSHUDGRUHVGHUHWUDVR
 3URFHVRVHVWRFiVWLFRVOLQHDOHV
 7HQGHQFLD\HVWDFLRQDOLGDG
  *UiILFDVFRQUHVSHFWRDOWLHPSR
  7UDQVIRUPDFLRQHV

  $QiOLVLVGHVHULHVTXHWLHQHQXQDWHQGHQFLD
  $XWRFRUUHODFLyQ
  (OFRUUHORJUDPD
  ,QWHUSUHWDFLyQGHOFRUUHORJUDPD
 2WUDVSUXHEDVGHDOHDWRULHGDG
 0RGHORVSDUDVHULHVGHWLHPSRXQLYDULDGDV
  0RGHORVDXWRUUHJUHVLYRV $5 
  0RGHORVGHSURPHGLRVPyYLOHV
  0RGHORV$50$
 0RGHORV$5,0$
 &RQVWUXFFLyQGHPRGHORVSDUDVHULHVGHWLHPSRXQLYDULDGDV
3ODQGH(VWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD
)DFXOWDGGH&LHQFLDV81$0

  ,GHQWLILFDFLyQ
  (VWLPDFLyQ
 9HULILFDFLyQ
 3URQyVWLFRFRQPRGHORV$5,0$
 $QiOLVLVGHDSOLFDFLRQHVXVDQGRXQSDTXHWHGHFyPSXWRHVWDGtVWLFR



(VWUDWHJLDVGLGiFWLFDV (YDOXDFLyQGHODSUHQGL]DMH
([SRVLFLyQ ;  ([iPHQHVSDUFLDOHV   ; 
7UDEDMRHQHTXLSR ;  ([DPHQILQDO    ; 
/HFWXUDV ;  7UDEDMRV\WDUHDV   ; 
7UDEDMRGHLQYHVWLJDFLyQ ;  3UHVHQWDFLyQGHWHPD    
3UiFWLFDV WDOOHURODERUDWRULR  ;  3DUWLFLSDFLyQHQFODVH  ; 
3UiFWLFDVGHFDPSR   $VLVWHQFLD  
$SUHQGL]DMHSRUSUR\HFWRV ;  5~EULFDV  
$SUHQGL]DMHEDVDGRHQSUREOHPDV ;  3RUWDIROLRV  
&DVRVGHHQVHxDQ]D   /LVWDVGHFRWHMR  
2WUDV HVSHFLILFDU  2WUDV HVSHFLILFDU 
6HUHFRPLHQGDHOXVRGHSDTXHWHVHVWDGtVWLFRVFRPR $VLPLVPR VH VXJLHUH TXH DO ILQDO GHO FXUVR HO
HO 6366 6WDWLVWLFD R 63OXV SDUD HO DQiOLVLV \ DOXPQR KDJD XQ DQiOLVLV FRPSOHWR GH XQ FRQMXQWR
PRGHODFLyQGHORVGDWRV GHGDWRV\SUHVHQWHORVUHVXOWDGRVGHPDQHUDRUDO\
(V UHFRPHQGDEOH TXH VH LPSDUWDQ FODVHV HQ HO HVFULWD
ODERUDWRULRGHFyPSXWRSDUDTXHHODOXPQRDSUHQGD 
DXVDUDOPHQRVXQRGHHVWRVSDTXHWHV



3HUILOSURIHVLRJUiILFR
7tWXORRJUDGR (VGHVHDEOHTXHHOSURIHVRUFXHQWHFRQXQSRVJUDGRHQHVWDGtVWLFD
([SHULHQFLDGRFHQWH &RQH[SHULHQFLDGRFHQWH
2WUDFDUDFWHUtVWLFD &RQH[SHULHQFLDHQHOPDQHMRGHHVWHWLSRGHGDWRV



%LEOLRJUDItDEiVLFD

$QiOLVLVGH6XSHUYLYHQFLD
x &ROOHW'  0RGHOOLQJ6XUYLYDO'DWDLQ0HGLFDO5HVHDUFK&KDSPDQ+DOO
x .DOEIOHLVFK-'3UHQWLFH5/  7KH6WDWLVWLFDO$QDO\VLVRI)DLOXUH7LPH'DWD HG 1HZ
<RUN-RKQ:LOH\
x .OHLQEDXP' .OHLQ0  6XUYLYDO$QDO\VLV$6HOI/HDUQLQJ7H[W6SULQJHU6FLHQFH
x /DZOHVV-  6WDWLVWLFDO0RGHOVDQG0HWKRGVIRU/LIHWLPH'DWD HG 1HZ<RUN-RKQ:LOH\
6RQV
x (ODQGW-RKQVRQ5& -RKQVRQ1/  6XUYLYDO0RGHOVDQG'DWD$QDO\VLV1HZ<RUN-RKQ
:LOH\ 6RQV
x &R['5 2DNHV'  $QDO\VLVRI6XUYLYDO'DWD1HZ<RUN&KDSPDQDQG+DOO/RQGRQ
x /RQGRQ'  6XUYLYDOPRGHOVDQGWKHLUHVWLPDWLRQ žHG $&7(;3XEOLFDWLRQV

6HULHVGH7LHPSR
x %URFNZHOO 3- DQG 'DYLV 5$   ,QWURGXFWLRQ WR 7LPH 6HULHV DQG )RUHFDVWLQJ  HG  1HZ
<RUN6SULQJHU9HUODJ
x &KDWILHOG&  7KH$QDO\VLVRI7LPH6HULHV HG /RQGRQ&KDSPDQDQG+DOO

3ODQGH(VWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD
)DFXOWDGGH&LHQFLDV81$0

x .HQGDOO0*DQG2UG-.  7LPH6HULHVUGHGQ6HYHQRDNV8.$UQROG
x .HQGDOO 0* 6WXDUW $ DQG 2UG -.   7KH $GYDQFHG 7KHRU\ RI 6WDWLVWLFV 9RO   HG 
/RQGRQ*ULIILQ
x :HL :   7LPH 6HULHV $QDO\VLV 8QLYDULDWH DQG 0XOWLYDULDWH 0HWKRGV  HG  $GGLVRQ
:HVOH\

%LEOLRJUDItDFRPSOHPHQWDULD

x .OHLQ - 3  0RHVFKEHUJHU 0 /   6XUYLYDO $QDO\VLV 7HFKQLTXHV IRU &HQVRUHG DQG
7UXQFDWHG'DWD$OHPDQLD6SULQJHU9HUODJ
x $DOHQ22%RUJDQ2*MHVVLQJ+.  6XUYLYDODQG (YHQW+LVWRU\ $QDO\VLV$SURFHVV
SRLQWRIYLHZ$OHPDQLD6SULQJHU9HUODJ


 

3ODQGH(VWXGLRVGHOD/LFHQFLDWXUDHQ$FWXDUtD
)DFXOWDGGH&LHQFLDV81$0


Das könnte Ihnen auch gefallen