VALUE CHAIN ANA - INTECRAL
Transcription
VALUE CHAIN ANA - INTECRAL
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FC$-4F4<;$9:$;I$9+<11..3$CM.DFb 3. -4DFC4*IF4<; <1 3$CM.DF F.+3;<9<2P $:<;2 F3. 4;F.CM4.N.- 1$C:.CD 4D C.AC.D.;F.- 4; -+A9% hdbF4D;<F.-;.$C9P3$91mbn<1F3.:ID.$*<F3:$;I$9DFC4AA4+8.-_$;-D.:4j:.+3$;4+$9 DFC4A A4+8.- m+34jDBI$C._ A }b}~nb ;9P ~b <1 F3. 1$C:.CD ID. F3. :$;I$9 DFC4A A4+8.- F.+3;<9<2P_-I.9$+8<1$9F.C;$F4M.Db3.FPA.<13$CM.DFF.+3;<9<2P4:A94.D-4C.+F9P<;F3.9$*<C +<DFD_ +<;D4-.C4;2 F3$F :$;I$9 DFC4A A4+8.- F.+3;<9<2P 4D :<C. F4:. +<;DI:4;2 $;- 9$*<C 4;F.;D4M.b -+A9%hdQ9C%:;%",2303+F3(;,%"3((%%+93D%9: <11..C<+.DD4;2 3. N$P <1 AC<+.DD4;2 $;- F3. -CP4;2 :.F3<- 4;F.C1.C. *4<+3.:4+$99P_ A3PD4+$99P $;- A3PD4<9<24+$99P <; F3. +<11.. *.$;D_ F3ID $11.+F4;2 14;$9 $C<:$ $;- 19$M<C m<D$ .F $9b_ }~` 4MC$:.;F<_ }} nb 3. AC<+.DD4;2 <1 F3. +<11.. +3.CC4.D +$; *. A.C1<C:.- *P FN< -411.C.;F :.F3<-D m<D$ .F $9b_ }~` _ }~` 4MC$:.;F<_ }} ` .4;$F< .F $9b_ }~` $DF<9-4 u $DF<9-4_}~na b CP:.F3<-a$9D<+$99.-;$FIC$9+<11..AC<+.DD4;2b3.+<11..+3.CC4.D$C.8.AF4;F$+FN4F3 F3.D84;$;-F3.:I+49$2.b3.+3.CC4.D$C.DAC.$-4;F<DI;-CP4;2P$C-DF499C.$+34;2IA F3.:<4DFIC.+<;F.;F<1~~ b .F :.F3<-a C.:<M.D F3. AI9A 1C<: F3. *.$;D $;- F3. *.$;D -CP N4F3 <;9P F3. A$C+3:.;FD84;9.1F<;b3.C.$C.D.M.C$9N$PDa+<11..+3.CC4.D+$;*.A..9.-_C.:<M4;2 F3. D84; $;- A$CF <1 F3. A$C+3:.;F` -.:I+49$2.-_ AI9A $;- 3ID8D $C. :.+3$;4+$99P D.A$C$F.- 1C<: F3. *.$;` <Cg$;- +<11.. +$; A$DD F3C<I23 $ *4<9<24+$9 1.C:.;F$F4<;_ N3.C.F3.AI9A$;-:I+49$2.$C.C.:<M.-*PN$F.Cj1499.-1.C:.;F$F4<;F$;8D ; C$Q49_ 4F 4D AC.-<:4;$;F F3. -CP :.F3<- 1<C F3. C$*4+$ +<11.._ N34+3 +3$C$+F.C4Q.D F3. C$Q494$; +<11.. N<C9-N4-. 8;<N; $D e C$Q494$; ;$FIC$9 +<11..f m$DF<9-4 u $DF<9-4_ }~nb 3. 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C.D4-I$9N$F.C_N34+3A<D.D$;.;M4C<;:.;F$9AC<*9.:_$;-<11.CD$+<;DFC$4;F<14:A9.:.;F$F4<; IA<;F3..;M4C<;:.;F$9CI9.D_F<9-.*.Cmj n4;A.CD<;$9+<;M.CD$F4<;b -+A9%heQ3:;W,9C%:;93"%::-2+79%$31-22"%132+"3((%%+93D%9: <11..CP4;2 1F.C <;. <C +<:*4;$F4<; <1 DF.AD_ F3. AI9A.- $;- 1.C:.;F.-_ F3. +<11.. *.$;D $C. -C4.- F499 C.$+34;2F3.~~14;$9:<4DFIC.m_}~nb3.+<11..-CP4;2AC<+.-IC.+$;*..O.+IF.-ID4;2 FN<-411.C.;F:.F3<-Da • C$-4F4<;$9 DI;j-CP4;2 +<11.. P$C-D_ N34+3 +$; *. -4CF P$C-D_ +<;+C.F. <C $DA3$9F :I- P$C-Dm.4;$F<.F$9b_}~n • CP.C :$+34;._ N34+3 +$; *. 3<C4Q<;F$9 <C M.CF4+$9 +C<DD 19<N 9$C2. FI:*9.CD m49M$ u $C-<D<<*C4;3<_}}~`_}~n 94M.4C$.F$9bm}}~n3$M.;<F-.F.+F.-$D42;414+$;F-411.C.;+.4;+<11..BI$94FP4;F3.4C$;$9PQ.- D$:A9.D DI*:4FF.- F< -411.C.;F -CP4;2 :.F3<-D_ DI+3 4; DI;j-CP4;2 +<11.. P$C-D <C -CP.C :$+34;.Db <N.M.C_ F3.P <*D.CM.- +3$;2.D 4; F3. BI$94FP N4F3 3423 F.:A.C$FIC. 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C$Q494$; -4.Fb <N.M.C_ 4F 4D DI*7.+F.- F< $ -.2C.. <1 +<:A.F4F4M.;.DD +$99.- e%9(%"; "317%;-;-32f M4$ F3. DIAA9P $;- -4DFC4*IF4<; DPDF.:b ++<C-4;2 F< .99J }~_ F3. A.C1.+F +<:A.F4F4<; 3$AA.;D N3.; F3.C. 4D 3423 +<;+.;FC$F4<; <1 *IP.CD $;- D.99.CD FC$-4;2 D:$99 BI$;F4F4.D <1 AC<-I+FD_ 3$M4;2 A<N.C 4; D.FF4;2 F3. AC4+. <1 F3.2<<-<CD.CM4+.FC$-.-b3.BI$;F4F4.D<1DIAA9P$;--.:$;--4+F$F.F3.AC4+.1<C:$F4<;b; F34DD+.;$C4<_F3.C.4D$9:<DF3<:<2.;.4FP<1F3.AC<-I+F_N34+34;F34DDFI-P4DF3.AC<-I+.N4F3 $9:<DF<C;<-411.C.;F4$F4<;<1F3.AC<-I+Fb3$F4DN3PF3.$N$C.;.DDF<F3.*$D4+D<1AC<-I+. +<;D.CM$F4<; <1 BI$94FP $;- D$1.FP_ DI+3 $D C.1C42.C$F4<; $;- $AAC<AC4$F. *<O.D 1<C :<M4;2 F3. 2<<-D9$+8D*.34;-b 23 Cited IN Seabra & Marafon (n.d.) <N.M.C_ -I. F< F3. 4;+C.$D. 4; F3. C.F$49 D.+F<C_ F3. +<:A.F4F4M.;.DD F.;-D F< D341F D9423F9P F<N$C-D ;.$C F< <942<A<9P <C 1.N D.99.CDb 3.C. $C. 1.N A<N.C1I9 C.F$49.C +3$4;D_ DI+3 $D DIA.C:$C8.FD$;-e<CF41CIF4Df_N34+3:423F+<;FC4*IF.F<$DF$*494Q$F4<;<1F3.AC4+._+<;FC<99.- *P F3.: $F $ 3423.C DF$2.b 3. +<:A.F4F4<; <1 F3. C.F$49.CD $9D< .;3$;+.D F3. BI$94FP <1 F3. AC<-I+. $;- <11.CD $ 3423.C AC<-I+F -4M.CD414+$F4<; *P +ICC.;F +<;DI:.C ;..-D_ DI+3 $ 2C.$F.C +<;M.;4.;+._$;--411.C.;F4$F.-AC<-I+FD_$DAC.M4<ID9P+4F.-b jRhRgR 39;-"A0;A9%19/%;70"% jRhRgReR 311%9"-0-G;-32",22%0 -+A9%jiC.AC.D.;FDF3.+<::.C+4$94Q$F4<;+3$;;.9<1F3.1$C:.CC.DA<;-.;FD4;F3.$9I.3$4; <CF4+I9FIC.b %$%9093+911%: lp 3;,%9Y$-9%";:%00-2+ 399%:;A92;Z ip ,39<(9A<",-2 ip :;9%%;19/%; lp efp ]1-$$0%1%2] jfp -+A9%jiQ311%9"-0-G;-32",22%03(;,%-2;%9C-%D%$(91%9:C0A%",-2 3. :$7<C4FP <1 F3. 1$C:.CD mn +<::.C+4$94Q. F3.4C AC<-I+. F3C<I23 F3. e:4--9.:.;fb 34D 1$+F4D$C.$94FP1$+.-4;F3.DFI-P$C.$-I.F<AC<*9.:D<19<24DF4+D$;--4114+I9F<AA<CFI;4FP1<C 1$C:.CDF<D.99-4C.+F9P4;F3. j4<b$C:.CDD$PF3.P1$+.$-4114+I9FFC$-.j<11F<+<;D4-.C<; F3.4C -.+4D4<;Db 3.F3.C DF$P $;- AC<-I+. m+<;D4-.C4;2 F3. D+$C+. $M$49$*9. 9$*<ICn <C F< 9.$M. F3.1$C:$;-2<F<F3.N3<9.D$9.$FF3.+$A4F$9<A.C$F4;23423+<DFD$;-C.-I+.-AC<-I+F4<;<; F3.9$;-b.M.CF3.9.DD_D<:.1$C:.CDAC$+F4+.F3.+<::.C+4$94Q$F4<;-4C.+F9PM4$ m~n4; F3.$M494<;~b;F34DD.;D._F3.C<9.<1F3.:4--9.:.;4D.DD.;F4$9$D$;$+F4M.$2.;F.DA.+4$99P <; F3. AC<-I+. +<99.+F4<; $;- 1ICF3.C C.-4DFC4*IF4<; F< F3. N3<9.D$9. +.;F.Cb 4F3<IF F3. 4;F.C:.-4$CP_F3.*IC-.;<1+<::.C+4$94Q$F4<;N<I9-*.F<F$9IA<;F3.1$C:.Cb3.:4--9.:.; $C. $9D< DI*7.+F.- F< F3. D.91jC.2I9$F4;2 AC4+. .;M4C<;:.;F_ 4; N34+3 F3. *IC-.; +<:.D F< F3. 1$C:.CD_+<;D4-.C4;2F3$FF3.FC$-.CN499.$C;<;F3.F<A<1F3.FC$-.-AC4+.b ;F.C.DF4;2F<<*D.CM.4DF3.A$CF4+4A$F4<;<11$C:.CD4;.-.C$9C<2C$::.D_4b.b m$F4<;$9 +3<<9 ..-4;2 C<2C$::.n $;- m<<- IC+3$D. 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F.I-<lm++.DD.-I2IDF}~nb <M.C;<-< DF$-<-<4<-.$;.4C<m}~ncC<2C$:$4<IC$94:A9$;F$~I;4-$-.D.:$CC.j $4.<C+4K;+I9$d_;989*/Q2/+:*!_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNbC7b2<Mb*CgN.*g4:AC.;D$g.O4*.+<;F.I-<^$CF4+9.j4- b C$.I*_b b_3$AA.99_bb_ 4FF:$;_b_.-.C:$;;_b_.CC_bb$;-.::499j.CC.;_b m}~nc3.F$F.<1$:49P$C:D4;F3. <C9-d_28/#$>$/260$1:_ 9D.M4.C_o<;94;.p M$49$*9.1C<:a3FFAagg-Ob-<4b<C2g~}b~}~g7bN<C9--.Mb}~b}b}~b $M.9_bm;b-bncC$4;PI<F.j4F$F4<;d_L26$*912::)$!21>*!:*21:):920$:)*1(?*//:;812;: ?$//KKKMHo<;94;.pM$49$*9.1C<:a 3FFAaggNNNb*C$4;PBI<F.b+<:g+4F$F4<;gBI<F.DgBI<F.DgMgM$+9$M3$M.~b3F:9^+F$+9$M $M.9m++.DD.-~I2IDF}~nb .994;_b$;-.47.C_bm}}n;*#$/*1$9'28>/;$!)*11/A9*9_o<;94;.pM$49$*9.1C<:a 1FAagg1FAb1$<b<C2g.Dg.D$g94D1$:.g2I4-.9lM$9I.3$4;bA-1b .;F+3.8._bbm}~nc$CF493$-<.:AC.2$-<.-<.:AC.2$-<CCIC$9d_<CF<9.2C._C4*I;$9 .24<;$9-<C$*$993<-$$C.24(<b m}}$n$192(826$!;8*2\ZZ`Q(8*!;/:;80*/*8H8*0$*829$9;/:#29K89*/H 81#$9$(*5$9$1*##$9#$#$8"2_4<-.$;.4C<_;DF4FIF<C$D49.4C<-..<2C$14$. DF$F5DF4+$b m}}*nc.;D<2C<A.+I&C4<}}j.2I;-$AIC$,(<d_*9:$0 #$$!;6$8"2 ;:20:*!Q K 19:*:;:289*/$*82#$$2(8'*$9::+9:*!_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNbD4-C$b4*2.b2<Mb*Cg*-$gA.DBI4D$Dg+$g-.1$I9Fb$DA^<u4m++.DD.-~I;. }~nb m}}n$192(826$!;8*2\ZZ`K89*/H81#$9$(*5$9$1*##$9#$#$8"2K_4<-. $;.4C<_;DF4FIF<C$D49.4C<-..<2C$14$. DF$F5DF4+$b m~ nc.;D<2C<A.+I&C4<-.~j~d_ 19:*:;:289*/$*82#$$2(8'*$9::+9:*!_ o<;94;.pM$49$*9.1C<:a 3FFAagg4*2.b2<Mb*Cg3<:.g.DF$F4DF4+$g.+<;<:4$g$2C<A.+I$C4$g+.;D<$2C<g~l~g+<;+.4F <DbD3F:m++.DD.-I;.}~nb m}~}$nc h.;D<}~}d_$192$02(8'*!2\Z[Z_o<;94;.pM$49$*9.1C<:a 3FFAagg+.;D<}~}b4*2.b2<Mb*Cgm++.DD.-I9P}~nb m}~$nc h4-$-.Dh4<-.$;.4C<h<M$C4*IC2<d_*##$9V_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNb+4-$-.Db4*2.b2<Mb*CgOFC$DgA.C149bA3A^9$;2u+<-:I;}}uD.$C+3C4<j-.j 7$;.4C<h;<M$j1C4*IC2<h4;1<2C$14+<Daj4;1<C:$+<.Dj+<:A9.F$Dm++.DD.-I9P}~nb m}~*nc h4-$-.Dh4<-.$;.4C<h$CC.j$4d_*##$9V_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNb+4-$-.Db4*2.b2<Mb*CgOFC$DgA.C149bA3A^9$;2u+<-:I;}~uD.$C+3C4<j-.j 7$;.4C<hM$CC.jD$4h4;1<2C$14+<Daj4;1<C:$+<.Dj+<:A9.F$Dm++.DD.-I9P}~nb m}~+nc$A$Dd_ 19:*:;:289*/$*82#$$2(8'*$9::+9:*!_o<;94;.pM$49$*9.1C<:a 3FFAagg:$A$Db4*2.b2<Mb*Cgm++.DD.-~$P}~nb m}~}*n$97;*9#$8"0$1:290*/*8$9\ZZbQ\ZZcJ7;*9*"2/*0$1:8#20*!*/*86$8 !6*:H89*/$81#$9$(*5$9_4<-.$;.4C<_;DF4FIF<C$D49.4C<-..<2C$14$. DF$F5DF4+$_o<;94;.pM$49$*9.1C<:a 3FFAagg*4*94<F.+$b4*2.b2<Mb*CgM4DI$94Q$+$<g94MC<Dg94M}bA-1b m}~n$97;*9!*21/628029:8#$20*!+/*2921:+1;_8 /)2$$1#*0$1:2K 2:9$:2#2/3(*!9H>2/;0$[_4<-.$;.4C<_o<;94;.pM$49$*9.1C<:a 1FAagg1FAb4*2.b2<Mb*CgC$*$93<l.l.;-4:.;F<g.DBI4D$l$+4<;$9lA<Cl:<DFC$l-.l<:4+49 4<Dl+<;F4;I$g<F$Dl:.F<-<9<24+$Dg;<F$Dl:.F<-<9<24+$DbA-1b m}~-ncC<-I,(<2C5+<9$I;4+4A$9d_ 19:*:;:289*/$*82#$$2(8'*$9::+9:*!_ o<;94;.pM$49$*9.1C<:a 3FFAaggNNNb4*2.b2<Mb*Cg3<:.g.DF$F4DF4+$g.+<;<:4$gA$:g}~g-.1$I9FbD3F:m++.DD.- I9P}~nb m}~nc4DF.:$ -..+IA.C$,(<IF<:&F4+$jd_82#;:2 1:$8128;:2#29 ;1*!+6*29_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNbD4-C$b4*2.b2<Mb*Cg*-$gF$*.9$gAC<F$*9b$DA^+~uQAu<}u4m++.DD.- I9P}~nb m}~.nc4DF.:$ -..+IA.C$,(<IF<:&F4+$jd_ 19:*:;:289*/$*82#$$2(8'* $9::+9:*!_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNbD4-C$b4*2.b2<Mb*Cg*-$gF$*.9$gAC<F$*9b$DA^+~~uQAu< u4m++.DD.-~ $P}~nb _4;4DF/C4<-$$K-.$;-4;4DF/C4<-<9$;.7$:.;F<C,$:.;F<..DF(<m}~}n$97;*9 #$8"0$1:290*/*8$9\ZZbQ\ZZcJ>/*"21;:8*!*21/##*9621* */*##$#20*!*/*8#$ /*0$1:291289*/_4<-.$;.4C<_o<;94;.pM$49$*9.1C<:a 3FFAaggNNNb4*2.b2<Mb*Cg.;294D3g.DF$F4DF4+$gA<AI9$+$<g+<;-4+$<-.M4-$gA<1g}} l}}l$M$9 l;IFC4+4<;$9gA<1}} }}l$M$94$+$<bA-1b m}~n(8*!;/:;8/>/;$!)*1'*11!$9:8:$(A1##$9*(1_;F.C;$F4<;$9I;-1<C 2C4+I9FIC$9.M.9<A:.;Fmnb _$;-m}~n(8*!;/:;8/>/;$!)*1#$>$/260$1:J)8$:2826628:;1*:A'28 ?20$1M9$06/2A0$1:G_;F.C;$F4<;$9$*<ICC2$;4Q$F4<;`<<-$;-2C4+I9FIC. 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BI$9 / < +IDF< :.;D$9 .: :/-4$ myn C.DA.+F4M< A$C$ :$;F4:.;F< m.O.:A9<a .;.C24$_ $9I2I.9n . :$;IF.;,(< mF/+;4+<D A$C$ C.A$C$,(<n -<D D.ID .BI4A$:.;F<D .g<I4;DF$9$,?.D^ ~~j I$9$+$A$+4-$-.:&O4:$-.$C:$Q.;$:.;F<m.:I;4-$-.D-.AC<-IF<nAC$$DDI$D:.C+$-<C4$D^ ~j m$nD.;3<Cm$n1.Q$92I:4;M.DF4:.;F<A$C$<D.I;.2=+4<^ 4:☐(<☐ .D4:_A<-.C4$;<D4;1<C:$C$AC<O4:$-$:.;F.<M$9<Cmyn-<D.I4;M.DF4:.;F<_D.1<4.:AC/DF4:<_.% BI$;F<F.:A<1<41.4F<^m.O.:A9<a+<:AC$-.I:+$:4;3(<_.F+n ~j I.:D(<D.ID+<;DI:4-<C.D^$C.74DF$D_DIA.C:.C+$-<D<I<IFC<D^ ~j I$9/$:$4<C-414+I9-$-.BI.<m$nD.;3<Cm$n.;1C.;F$.:2.C$9;<D.IFC$*$93<^ ~j I$9/$DI$D$F4D1$,(<+<:.DF$I;4-$-.-< ;<.DF$-<-<4<-.$;.4C<.A<CBI.^ ~j $DI$<A4;4(<<BI.A<-.C4$D.C:.93<C$-<;$+<:.C+4$94Q$,(<-.AC<-IF<D$2C5+<9$D;<.DF$-<-<4< -.$;.4C<_$92I:AC<*9.:$.:.DA.+414+<^ I4F<<*C42$-$A.9$DI$$7I-$] I$+<;14-.;+4$94-$-.D.C&:$;F4-$] edRlR 77%2$-EjQA%:;-322-9%-$$0%122$-:;9-!A;39Y39;-"A0;A9%Z .2:.;F<a.+<934:.;F<.+<:/C+4<-.AC<-IF<D3<CF41CKF4.:<M$C4*IC2< %;39Q ;Q A%:;-329-3_Q 3"0Q -73Q ~b m$nD.;3<Cm$nD.+<;D4-.C$BI$9F4A<-.$2.;F.+<:.C+4$9^ mn+<:AC$-<CgM.;-.-<C4;F.C:.-4&C4< mn2.;F.14;$;+.4C< mnF$+$-4DF$ mn$C.74DF$ mn2C<4;-KDFC4$ mnC$;DA<CF$-<C mn<<A.C$F4M$ ~ b <:<<m$nD.;3<Cm$n+<;D4-.C$<F4A<-..C+$-<-.AC<-IF<D3<CF41CKF4;$C.24(<D.CC$;$-< DF$-<-<4< -.$;.4C<^ mn O4DF.::I4F<D+<:AC$-<C.D.$+<;+<CC0;+4$/$9F$ mn<:.;F.3&I:+<:AC$-<C mn O4DF.:A<I+<D+<:AC$-<C.D mn<IFC<_.DA.+414+$Ca ~b O4DF.$92I:F4A<-.$+<C-<+<;FC$FI$9AC/j.DF$*.9.+4-<.;FC.<D+<:AC$-<C.D.<DAC<-IF<C.D_.g<I.;FC.<D +<:AC$-<C.D.<IFC$D.:AC.D$D^.D4:_A<C1$M<C_C.9$F.BI$9/$+<;-4,(<b mn4:mn(< <;-4,(<a }b I$9/<-.DF4;<m:.C+$-<+<;DI:4-<Cn:$4D+<:I:-$:$F/C4$jAC4:$M.;-4-$A.9<m$nD.;3<Cm$n^ ~b m$nD.;3<Cm$nA<DDI4$92I:F4A<-.4;DF$9$,(<A$C$$+<9.F$.+<:.C+4<-.:$F/C4$jAC4:$_+<:<.O.:A9<_ $C:$Q/:<I<IFC$D.DFCIFIC$D.DA.+514+$D^<C1$M<C_-.D+C.M.C+$-$I:$b b I$9$DI$+$A$+4-$-.:&O4:$m.:I;4-$-.D.Ob+$4O$D-.F<:$F.n-.$C:$Q.;$:.;F<$<A<C-4$^ b <-.C4$4;1<C:$CBI$9/<+IDF<-$D4;DF$9$,?.D$-BI4C4-$D.3&BI$;F<F.:A<$DA<DDI4^ b m$nD.;3<Cm$nF.:$92I:+IDF<+<:FC$;DA<CF.-.AC<-IF<D3<CF41CKF4-.D-.<AC<-IF<C$F/<-.DF4;<14;$9^ .D4:BI$9/$AC<O4:$-$:.;F.<+IDF<:.;D$9+<:FC$;DA<CF.+<:<_A<C.O.:A9<_A.-&24<_1C.F._ +<:*IDF5M.9^ mn4:mn(<+IDF<myna b O4DF.$92I:+IDF<-.FC$;D$,(<_+<:<A<C.O.:A9<_4:A<DF<D_.A.C-$D-.M4-<$M&C4<D1$F<C.D^<-.C4$ 4;1<C:$C$AC<O4:$-$:.;F.<+IDF<:.;D$9^ b m$nD.;3<C$m$nA<-.C4$;<D4;1<C:$C_+$D<D.$A94BI._<M$9<Cmyn$AC<O4:$-<-.4;M.DF4:.;F<DC.$94Q$-<D ;<DK9F4:<D$;<D_+<:<A<C.O.:A9<.:I:$4;DF$9$,(<<I+<:AC$-.$IF<:=M.9^ b I$9/$BI$;F4-$-.+<:AC$-$m.:I;4-$-.D_.Oba+$4O$DnD.:$;$9:.;F.-<DAC<-IF<C.D-<DAC<-IF<D 94DF$-<D$*$4O<^ C<-IF< I$;F4-$-.+<:AC$-$ ;4-$-.m:<93<_+$4O$n 91$+. +.92$ $9D$ <IM.j19<C <:$F. $2.: .F.CC$*$ b m$nD.;3<Cm$nA<-.C4$;<D-4Q.CBI$9/<AC.,<m.:C.$4DynA$2<A.9<m$nD.;3<Cm$n;$+<:AC$-.DD.D AC<-IF<DA<CI;4-$-.^ C<-IF< 5;4:<myn &O4:<myn 91$+. +.92$ $9D$ <IM.j19<C <:$F. $2.: b I$9/<C.,<m.:C.$4Dyn-.M.;-$A.9<m$nD.;3<Cm$n$<:.C+$-<D.2I4;F._A<CI;4-$-.-<DAC<-IF<D 94DF$-<D$*$4O<^ C<-IF< C.,<-.M.;-$myn ;4-$-.m+$4O$n 91$+. +.92$ $9D$ <IM.j19<C <:$F. $2.: .F.CC$*$ }b O4DF.D$Q<;$94-$-.;<DAC.,<D^I$9/<:$4<C:<F4M<-$19IFI$,(<;<DAC.,<D^ mn4:mn(<<F4M<a ~b I$9/<M<9I:.$AC<O4:$-<M.;-4-<A<C$;<-<DAC<-IF<D94DF$-<D$*$4O<_A.9<m$nD.;3<Cm$n^ C<-IF< I$;F4-$-.M.;-4-$ ;4-$-.m+$4O$n 91$+. +.92$ $9D$ <IM.j19<C <:$F. $2.: .F.CC$*$ b O4DF.$92I:$F$O$<I4:A<DF<D<*C.<AC<-IF<^.D4:_BI$;F<D.C4$A<CI;4-$-.-.AC<-IF< $AC<O4:$-$:.;F.^ mn4:mn(<$9<C$AC<O4:$-<myna b I$9/$:$4<C-414+I9-$-..;1C.;F$-$;<D.IFC$*$93<^ b $DI$<A4;4(<_BI$9/<:$4<CAC<*9.:$;<+<:/C+4<-.AC<-IF<D3<CF41CKF4;< DF$-<-<4<-.$;.4C<^ I4F<*C42$-$A.9$DI$+<<A.C$,(<] +<;14-.;+4$94-$-.-.DI$D4;1<C:$,?.DD.C&:$;F4-$] edRmR 77%2$-EkQA%:;-322-9%-2-93"%::-2+02; .2:.;F<aC<+.DD$:.;F<-.3<CF41CKF4;$C.24(<D.CC$;$ %;39Q ;Q A%:;-329-3_Q 3"0Q -73Q b I$9/+$F.2<C4$-.DF$.:AC.D$AC<+.DD$-<C$-.3<CF41CKF4^ mn2C<4;-KDFC4$ mn.C.;-$.D+<9$C mn4;4jAC<+.DD$-<D mn<IFC$b DA.+414BI.a b <:<<m$nD.;3<Cm$n+<;D4-.C$<F4A<-.:.C+$-<-.3<CF41CKF4;$C.24(<.CC$;$-< DF$-<-<4<-. $;.4C<^ mn O4DF.::I4F<D+<:AC$-<C.D.$+<;+<CC0;+4$/$9F$ mn<:.;F.3&I:+<:AC$-<C mn O4DF.:A<I+<D+<:AC$-<C.D mn<IFC<_.DA.+414+$Ca b I$9/<:$4<C:.C+$-<+<;DI:4-<C-.DF$.:AC.D$^ b O4DF.$92I:F4A<-.$+<C-<+<;FC$FI$9AC/j.DF$*.9.+4-<.;FC.<D$FC$M.DD$-<C.D.$$2C<4;-KDFC4$^I$9$ +$F.2<C4$^ mn4:mn(<+$F.2<C4$a b I$9/.::/-4$<M<9I:.m.:I;4-$-.D_.Ob+$4O$D-.F<:$F.n-.AC<-IF<D3<CF41CKF4AC<+.DD$-<D -4$C4$:.;F.A<C.DF$.:AC.D$^ }b I$9/<AC.,<myn-.+<:AC$;<C:$9:.;F.$<DAC<-IF<D94DF$-<D*$4O<^ C<-IF< I$;F4-$-.+<:AC$-$m+$4O$D_:<93<Dn C.,<y 91$+. +.92$ $9D$ <IM.j19<C <:$F. $2.: .F.CC$*$ ~b I$4D<DF4A<D-.AC<-IF<DAC<-IQ4-<DA.9$.:AC.D$^ b ::/-4$BI$9/<+IDF<myn.<AC.,<-.M.;-$mynA<CI;4-$-.-.AC<-IF<7&AC<+.DD$-<-<DAC<-IF<D 1$*C4+$-<DA<C.DF$^ C<-IF< IDF<A<CI;4-$-.myn C.,<M.;-4-<y b I$9/<4;DI:<-.:$4<C+IDF<mynA$C$.DF$.:AC.D$^ b I$9/<M<9I:.-.AC<-IF<DM.;-4-<DA<C.DF$.:AC.D$$<-4$^ b I$9<M<9I:.-.A.C-$D-.M4-<$<AC<+.DD$:.;F<m.:nA<C-4$^ b I$9/$+$A$+4-$-.-.$C:$Q.;$:.;F<;<-4$-.:$F/C4$AC4:$^ b m$nD.;3<Cm$nA<-.C4$2.;F49:.;F.;<D$7I-$C$C.$94Q$C$A.DBI4D$4;1<C:$;-<_A<C1$M<C<D+IDF<D :/-4<Dmyn.4;M.DF4:.;F<D-$.:AC.D$-.AC<+.DD$:.;F<^$DF$+<:A9.F$C$F$*.9$+<:-$-<D $AC<O4:$-<Db$D<;(<D.$A94BI._;(<3&;.+.DD4-$-.-.AC..;+34:.;F<b .DA.D$D14O$D I:.C<mI;4-$-.n IDF<myn4;M.DF4:.;F< :<*494&C4< .BI4A$:.;F<D $IF<:=M.4D ;DF$9$,?.DAC.-4$4D .CM4,<DA$2<D IDF<myn$<:0D .:I;.C$,(<-<AC<AC4.F&C4< .:I;.C$,(<-.F/+;4+<D .:I;.C$,(<-.1I;+4<;&C4<D <;F$-.&2I$9IQ.<IFC<D .AC.+4$,(<-<D4;M.DF4:.;F<D14O<D <;<C&C4<+<;F$-<C $;IF.;,(<-..BI4A$:.;F<D :A<DF<D.F$O$D IFC$D-.DA.D$D <:AC$:$F/C4$jAC4:$ $9<Cmyn C<-IF<D<CF41CKF4 :A<DF<DD<*C.<+$1/ I4F<<*C42$-$A.9$DI$+<<A.C$,(<]D4;1<C:$,?.D$BI4$AC.D.;F$-$DD.C(<:$;F4-$D-.1<C:$ +<;14-.;+4$9] edRedR 77%2$-ElQ3:&%99%-9YZ 2;%9C-%D92:"9-7; 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