Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes
A small-sized gamma-detection block of scintillator-photodiodetem is reported. The block operates in the 0.05-3.0 meV energy range and the dose rate range from 10⁻⁶ to 10³ R/h and more. The detection block operates in a combined counting-current mode with spectrometry functions. Transition from the...
Gespeichert in:
| Datum: | 2004 |
|---|---|
| Hauptverfasser: | , , , , |
| Format: | Artikel |
| Sprache: | English |
| Veröffentlicht: |
НТК «Інститут монокристалів» НАН України
2004
|
| Schriftenreihe: | Functional Materials |
| Schlagworte: | |
| Online Zugang: | https://nasplib.isofts.kiev.ua/handle/123456789/139306 |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| Назва журналу: | Digital Library of Periodicals of National Academy of Sciences of Ukraine |
| Zitieren: | Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes / V.V. Nekrasov, V.V. Belogub , E.M. Selegenev, B.V. Grynyov, Yu.A. Borodenko // Functional Materials. — 2004. — Т. 11, № 2. — С. 420-425. — Бібліогр.: 4 назв. — англ. |
Institution
Digital Library of Periodicals of National Academy of Sciences of Ukraine| id |
nasplib_isofts_kiev_ua-123456789-139306 |
|---|---|
| record_format |
dspace |
| spelling |
nasplib_isofts_kiev_ua-123456789-1393062025-02-09T14:00:02Z Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes Розробка блока детектування системи сцинтилятор-фотодіод сполученого режиму роботи (лічильно-токовий) для азимутально-виявного комплексу Nekrasov, V.V. Belogub, V.V. Selegenev, E.M. Grynyov, B.V. Borodenko, Yu.A. News of technology A small-sized gamma-detection block of scintillator-photodiodetem is reported. The block operates in the 0.05-3.0 meV energy range and the dose rate range from 10⁻⁶ to 10³ R/h and more. The detection block operates in a combined counting-current mode with spectrometry functions. Transition from the counting mode to the current mode and back is carried out automatically. The detection block is designed for use in azimuthal detectin g complexes of surveyor robots, in multifunctional dosimeters, direction-finding dosimeters, etc. Разработан малогабаритный блок детектирования у -излучения системы сцинтиллятор-фотодиод, работающий в диапазоне энергий 0,05-3,0 меВ и диапазоне мощностей доз от 10⁻⁶ до 10³ Р/ч и более. Блок детектирования имеет совмещенный счетно-токовый режим с функцией спектрометрии. Переход со счетного режима на токовый и обратно происходит автоматически. Блок детектирования предназначен для использования в азимутально-обнаружительном комплексе робота-разведчика, многофункциональном дозиметре-пеленгаторе и др. Розроблено малогабаритний блок детектування у-випромінювання системи сцинтилятор-фотодіод, що працює у діапазоні енергій 0,05-3,0 MеВ і діапазоні потужностей доз від 10⁻⁶ до 10³ і більш Р/год. Блок детектування має суміщений рахунково-струмовий режим з функцією спектрометрії. Перехід з рахункового режиму на струмовий і назад проходить автоматично. Блок детектування призначено для використання у азимутально-виявляючому комплексі робота-розвідник, багатофункціональному дозиметрі, дозиметрі-пеленгаторі та ін. 2004 Article Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes / V.V. Nekrasov, V.V. Belogub , E.M. Selegenev, B.V. Grynyov, Yu.A. Borodenko // Functional Materials. — 2004. — Т. 11, № 2. — С. 420-425. — Бібліогр.: 4 назв. — англ. 1027-5495 https://nasplib.isofts.kiev.ua/handle/123456789/139306 en Functional Materials application/pdf НТК «Інститут монокристалів» НАН України |
| institution |
Digital Library of Periodicals of National Academy of Sciences of Ukraine |
| collection |
DSpace DC |
| language |
English |
| topic |
News of technology News of technology |
| spellingShingle |
News of technology News of technology Nekrasov, V.V. Belogub, V.V. Selegenev, E.M. Grynyov, B.V. Borodenko, Yu.A. Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes Functional Materials |
| description |
A small-sized gamma-detection block of scintillator-photodiodetem is reported. The block operates in the 0.05-3.0 meV energy range and the dose rate range from 10⁻⁶ to 10³ R/h and more. The detection block operates in a combined counting-current mode with spectrometry functions. Transition from the counting mode to the current mode and back is carried out automatically. The detection block is designed for use in azimuthal detectin g complexes of surveyor robots, in multifunctional dosimeters, direction-finding dosimeters, etc. |
| format |
Article |
| author |
Nekrasov, V.V. Belogub, V.V. Selegenev, E.M. Grynyov, B.V. Borodenko, Yu.A. |
| author_facet |
Nekrasov, V.V. Belogub, V.V. Selegenev, E.M. Grynyov, B.V. Borodenko, Yu.A. |
| author_sort |
Nekrasov, V.V. |
| title |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| title_short |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| title_full |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| title_fullStr |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| title_full_unstemmed |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| title_sort |
development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes |
| publisher |
НТК «Інститут монокристалів» НАН України |
| publishDate |
2004 |
| topic_facet |
News of technology |
| url |
https://nasplib.isofts.kiev.ua/handle/123456789/139306 |
| citation_txt |
Development of a detection block of a combined mode scintillator-photodiode system (counting-current) for azimuthal detecting complexes / V.V. Nekrasov, V.V. Belogub , E.M. Selegenev, B.V. Grynyov, Yu.A. Borodenko // Functional Materials. — 2004. — Т. 11, № 2. — С. 420-425. — Бібліогр.: 4 назв. — англ. |
| series |
Functional Materials |
| work_keys_str_mv |
AT nekrasovvv developmentofadetectionblockofacombinedmodescintillatorphotodiodesystemcountingcurrentforazimuthaldetectingcomplexes AT belogubvv developmentofadetectionblockofacombinedmodescintillatorphotodiodesystemcountingcurrentforazimuthaldetectingcomplexes AT selegenevem developmentofadetectionblockofacombinedmodescintillatorphotodiodesystemcountingcurrentforazimuthaldetectingcomplexes AT grynyovbv developmentofadetectionblockofacombinedmodescintillatorphotodiodesystemcountingcurrentforazimuthaldetectingcomplexes AT borodenkoyua developmentofadetectionblockofacombinedmodescintillatorphotodiodesystemcountingcurrentforazimuthaldetectingcomplexes AT nekrasovvv rozrobkablokadetektuvannâsistemiscintilâtorfotodíodspolučenogorežimurobotilíčilʹnotokovijdlâazimutalʹnoviâvnogokompleksu AT belogubvv rozrobkablokadetektuvannâsistemiscintilâtorfotodíodspolučenogorežimurobotilíčilʹnotokovijdlâazimutalʹnoviâvnogokompleksu AT selegenevem rozrobkablokadetektuvannâsistemiscintilâtorfotodíodspolučenogorežimurobotilíčilʹnotokovijdlâazimutalʹnoviâvnogokompleksu AT grynyovbv rozrobkablokadetektuvannâsistemiscintilâtorfotodíodspolučenogorežimurobotilíčilʹnotokovijdlâazimutalʹnoviâvnogokompleksu AT borodenkoyua rozrobkablokadetektuvannâsistemiscintilâtorfotodíodspolučenogorežimurobotilíčilʹnotokovijdlâazimutalʹnoviâvnogokompleksu |
| first_indexed |
2025-11-26T14:28:12Z |
| last_indexed |
2025-11-26T14:28:12Z |
| _version_ |
1849863486555815936 |
| fulltext |
'HYHORSPHQW�RI�D�GHWHFWLRQ�EORFN�RI�DFRPELQHG�PRGH�VFLQWLOODWRU�SKRWRGLRGH�V\VWHP�FRXQWLQJ�FXUUHQW��IRU�D]LPXWKDO�GHWHFWLQJFRPSOH[HV
9�9�1HNUDVRY��9�9�%HORJXE
��(�0�6HOHJHQHY�%�9�*U\Q\RY��<X�$�%RURGHQNR
67&��,QVWLWXWH�IRU�6LQJOH�&U\VWDOV���1DWLRQDO�$FDGHP\�RI�6FLHQFHV�RI��8NUDLQH�,QVWLWXWH�IRU�6FLQWLOODWLRQ�0DWHULDOV�6FLHQWLILF�5HVHDUFK�2UJDQL]DWLRQ 6(/',
����/HQLQ�$YH���������.KDUNLY��8NUDLQH
5HFHLYHG�1RYHPEHU���������
$� VPDOO�VL]HG� JDPPD�GHWHFWLRQ� EORFN� RI� VFLQWLOODWRU�SKRWRGLRGHWHP� LV� UHSRUWHG�� 7KHEORFN� RSHUDWHV� LQ� WKH� ���������uH9� HQHUJ\� UDQJH� DQG� WKH� GRVH� UDWH� UDQJH� IURP����� WR��� 5�K�DQG�PRUH��7KH�GHWHFWLRQ�EORFN�RSHUDWHV�LQ�D�FRPELQHG�FRXQWLQJ�FXUUHQW�PRGH�ZLWKVSHFWURPHWU\�IXQFWLRQV��7UDQVLWLRQ�IURP�WKH�FRXQWLQJ�PRGH�WR�WKH�FXUUHQW�PRGH�DQG�EDFNLV�FDUULHG�RXW�DXWRPDWLFDOO\��7KH�GHWHFWLRQ�EORFN�LV�GHVLJQHG�IRU�XVH�LQ�D]LPXWKDO�GHWHFWLQ JFRPSOH[HV�RI�VXUYH\RU�URERWV��LQ�PXOWLIXQFWLRQDO�GRVLPHWHUV��GLUHFWLRQ�ILQGLQJ�GRVLPHWH UV�HWF�
èjoéjivzjt�ujsvmjijéqzt�p�isvr�lnznrzqévkjtq¹�γ −qosy·ntq¹�xqxznu��x|qtzqss¹�zvé�{vzvlqvl��éjivzjí�qp�k�lqjwjovtn� ëtnémqp����������unÆ�q�lqjwjovtn�uv�tvxznplvo�vz����� lv���� è�·�q�ivsnn��Èsvr�lnznrzqévkjtq¹�qunnz�xvkun�ntt�p�x·nztv�zvrv�k�p� én qu� x� {ytr|qnp� xwnrzévunzéqq�� Ínén}vl� xv� x·nztvmv� én quj� tj� zvrvk�p� qviéjztv�wévqx}vlqz� jkzvujzq·nxrq��Èsvr�lnznrzqévkjtq¹�wénltjotj·nt� ls¹�qxwvs�ov�kjtq¹� k� joquyzjs�tv�vitjéy qzns�tvu� rvuwsnrxn� évivzj�éjoknl·qrj�� utvmv{ytr|qv�tjs�tvu�lvoqunzén�wnsntmjzvén�q�lé���
$GYDQWDJHV�RI�WKH�VFLQWLOODWRU�SKRWRGLRGH�6�3'��V\VWHP�DV�FRPSDUHG�ZLWK�WUDGLWLRQDORQHV�� OLNH� JDV� FRXQWHUV�� VFLQWLOODWRU�307�VHPLFRQGXFWRU�GHWHFWRUV��HWF���KDYH�EHHQ�GH �VFULEHG�LQ�GHWDLO�LQ�PDQ\�SXEOLFDWLRQV�>���@�+RZHYHU�� DV� GLVWLQFW� IURP� WKHVH� V\VWHPVZLWK� RXWSXW� VLJQDOV� RI� UDWKHU� ODUJH� DPSOL �WXGH����������9�DQG�PRUH���WKH�6�3'�V\VWHPFDQQRW� EH� FRQVLGHUHG� DV� D� FRPSOHWH� RQH�VLQFH�WKH�VLJQDO�HPHUJLQJ�DW�WKH�SKRWRGLRGHRXWSXW� LV� YHU\� ZHDN� DQG� UHTXLUHV� IXUWKHUDPSOLILFDWLRQ� DQG� SURFHVVLQJ� LQ� RUGHU� WRUHDFK� DPSOLWXGHV� RI� a�������� 9�� 7KH� SURE�OHP� RI� DPSOLILFDWLRQ� RI� ZHDN� VLJQDOV� LVUDWKHU� FRPSOH[� DQG� UHTXLUHV� VSHFLDO� PHWK �RGV�DQG�ZD\V��0RUHRYHU��KLJK�UHTXLUHPHQWV
DUH� SXW� WR� SKRWRGLRGH� SDUDPHWHUV�� PHHWLQJZKLFK�LV�DOVR�D�GLIILFXOW�WDVN��1HYHUWKHOHVV�LI�WKH�ZKROH�SUREOHP�LV�WUHDWHG�LQ�FRPSOH[�DOO� GLIILFXOWLHV� UHODWHG� WR� UHDOL]DWLRQ� RI� WKHSRVVLELOLWLHV�RIIHUHG�E\�6�3'�V\VWHPV�FDQ�EHRYHUFRPH�� $� FRPSOH[� DSSURDFK� PHDQV� WKDWOLPLWLQJ� SDUDPHWHUV� RI� WKH�ZKROH� FKDLQ� DUHWR� EH� UHDFKHG�� FU\VWDO�SKRWRGLRGH�GHWHFWRU�FLUFXLWU\��6XFK� IRUPXODWLRQ�RI� WKH� UHVHDUFKWDVNV� DOORZHG� XV� WR� REWDLQ� SRVLWLYH� UHVXOWV�RQH�RI�ZKLFK�LV�SUHVHQWHG�LQ�WKLV�SDSHU�$Q� D]LPXWKDO�GHWHFWLQJ� FRPSOH[� �$]'&�LV� GHVLJQHG� IRU� DXWRPDWLF� UHPRWH� GHWHFWLRQRI�ORFDO�VRXUFHV�RI� γ�UDGLDWLRQ�IRU�WKHLU�VDIHVWRUDJH�RU�QHXWUDOL]DWLRQ��$]'&�LV�LQVWDOOHGRQ�D�VXUYH\RU�URERW�DQG�FRPSULVHV�GHWHFWRUV
)XQFWLRQDO�0DWHULDOV�����1R��������� �������²�,QVWLWXWH�IRU�6LQJOH�&U\VWDOV
1HZV�RI�7HFKQRORJ\
��� )XQFWLRQDO�PDWHULDOV�������������
RI� WZR� W\SHV�� RSHUDWLQJ� LQ� WKH� FXUUHQW� DQGFRXQWLQJ� PRGHV�� UHVSHFWLYHO\�� 7KH\� DUHJURXSHG� LQWR� WZR� EORFNV�� ��� GHWHFWRUV� LQHDFK�� $V� FRXQWLQJ� GHWHFWRUV�� JDV� FRXQWHUVDUH� XVHG�� ZKLOH� FXUUHQW�PRGH� GHWHFWRUV� DUH6(/',����� 6�3'� W\SH� GHWHFWRUV� GHYHORSHGE\�WKH�,QVWLWXWH�IRU�6LQJOH�&U\VWDOV�7KHVH� GHWHFWRUV� KDYH� D� QXPEHU� RI� VXE �VWDQWLDO� GUDZEDFNV�� DPRQJ� ZKLFK� RQHVKRXOG�QRWH�WKHLU�ODUJH�VL]H�DQG�ZHLJKW��ORZGHWHFWLRQ�HIILFLHQF\�RI�KLJK�HQHUJ\�SDUWLFOHVE\�JDV�GHWHFWRUV��SUREOHPV�LQ�FRPELQLQJ�LQ �IRUPDWLRQ� IURP� WKH� FXUUHQW� DQG� FRXQWLQJGHWHFWRUV�LQ�WKH����� 5�K�UDQJH��7KH�ODWWHUGUDZEDFN� LV� YHU\� LPSRUWDQW�� DV� LQ� WKLVUDQJH�JDV�GHWHFWRUV�DUH�UHDFKLQJ�VDWXUDWLRQ�ZKLOH� FXUUHQW� GHWHFWRUV� GLG� QRW� HQVXUH� WKHUHTXLUHG� VHQVLWLYLW\�� $V� D� UHVXOW�� WKH� VXU �YH\RU�URERW� LQ�WKLV�FURVVRYHU�UDQJH� ORVW�KLVRULHQWDWLRQ� LQ� γ�ILHOGV�� ZKLFK� FDXVHG� QHJD�WLYH�HIIHFWV�RQ�WKH�RSHUDWLRQ�TXDOLW\�:H� KDYH� GHYHORSHG� D� GHWHFWLRQ� EORFN�'%��RSHUDWLQJ� LQ�D�FRPELQHG�FRXQWLQJ�FXU �UHQW� PRGH� ZLWK� IXQFWLRQV� RI� VSHFWURPHWU\�ZKLFK� KDV� QR� DERYH�PHQWLRQHG� GUDZEDFNV�,Q�WKH�GRVH�UDWH�UDQJH�RI����� 5�K��'%�KDVD� FHUWDLQ� RYHUODSSLQJ� RI� WKH� FXUUHQW� DQGFRXQWLQJ�PRGHV��ZKLFK� DOORZV� FDUU\LQJ� RXWFRQWLQXRXV� PHDVXUHPHQWV�� 7KH� GHWHFWLRQEORFN�FRPSULVHV�D�6�3'�GHWHFWRU��D�SHDN�GH �WHFWRU��D�EORFN�IRU�SXOVH�DPSOLWXGH�PHDVXUH �PHQW� DQG� VSHFWUD� VWRUDJH�� D� EORFN� IRU� V\Q �FKURQL]DWLRQ�DQG�H[FKDQJH��D�EORFN�IRU�FXU �UHQW�PHDVXUHPHQW��DQG�D�56�����LQWHUIDFH�7KH�GHWHFWRU�LQFOXGHV�²�VFLQWLOODWRU�&V,�7O� RI�����FP� YROXPH�²�SLQ�SKRWRGLRGH���FP��²�FKDUJH�VHQVLWLYH�DPSOLILHU��&6$��²�����µV�DQG���µV�VKDSHUV�²�WHPSHUDWXUH�VHQVRU�²�FRPPXWDWRU�7KH�SHDN�GHWHFWRU�EORFN�FRQVLVWV�RI�²� WKH� SHDN� GHWHFWRU� LWVHOI�� ZKLFK�PHPRUL]HV��WKH�SXOVH�VKDSH�²�FRUUHFWRU�RI�����OLQH��ZKLFK�PHDVXUHVDQG�VWRUHV�WKH�����OLQH�ELDV�²�FRPSDUDWRU�²� GLJLWDO� YDULDEOH� UHVLVWRU� VHWWLQJ� WKHFRPSDUDWRU�WKUHVKROG�²� ODXQFKLQJ�FLUFXLW� IRU�SXOVH�DPSOLWXGHPHDVXUHPHQW�RQ�D�'�WULJJHU�7KH�EORFN�IRU�PHDVXUHPHQW�RI�SXOVH�DP �SOLWXGHV�DQG�VSHFWUD�VWRUDJH�FRQVLVWV�RI�²� D� ���GLJLW� DQDORJ�WR�GLJLW� FRQYHUWHU�$'&��²�PLFURSURFHVVRU��03��²�5$0�IRU�VSHFWUD�7KH� EORFN� IRU� FXUUHQW�PHDVXUHPHQW� FRQ �VLVWV�RI�
²�D����GLJLW�$'&��D�PLFURSURFHVVRU�²�FRPPXQLFDWLRQ�FLUFXLW�7KH� EORFN� IRU� FXUUHQW� PHDVXUHPHQW� LVOLQNHG� WR� WKH� ELDV� VHWWLQJ� FLUFXLW�²� ��� 9�7KH�V\Q�FKURQL]DWLRQ�DQG�H[FKDQJH�EORFN� LVD�PLFURSURFHVVRU�PDQDJHU�FRQWUROOLQJ�D�V\V �WHP� RI� VHYHUDO� PHDVXUHPHQW� FKDQQHOV�� 7KH56����� LQWHUIDFH�HQVXUHV�FRQQHFWLRQ�ZLWK�DFRPSXWHU�YLD�&20�SRUW��IRU�UDSLG�H[FKDQJH�FRPPXQLFDWLRQ�YLD�/37�SRUW���7UDQVIRUPDWLRQ�RI�WKH�RSWLFDO�VLJQDO�ZDVFDUULHG� RXW� LQ� WKH� IROORZLQJ� ZD\�� γ�TXDQWDDUH� FRQYHUWHG� LQWR� SKRWRQV�� LQ� WKH� SLQ�GLRGH��WKH�SKRWRQV�DUH�FRQYHUWHG�WR�DQ�HOHF �WULF� FKDUJH�� ZKLFK�� LQ� WXUQ�� LV� FRQYHUWHGLQWR� YROWDJH� LQ� WKH� FKDUJH�VHQVLWLYH� DPSOL �ILHU�� DQG� WKH� YROWDJH� GLIIHUHQFH� LV� VKDSHGLQWR�D�SXOVH��7KHQ�WKH�SXOVH�FRPHV��WKURXJKWKH� FRPPXWDWRU�� L�H��� WKH� RXWSXW� RI� RQH� RIWKH�VKDSHUV��WR�WKH�SHDN�GHWHFWRU�WKDW�VWRUHVWKH�PD[LPXP� SXOVH� YDOXH�� 7KH� SHDN� GHWHF �WRU�FDQ�RSHUDWH�LQ�WZR�PRGHV��ZDWFKLQJ�DQGVWRUDJH�� 6ZLWFKLQJ� RYHU� EHWZHHQ� WKH�PRGHVLV�PDGH�E\�WKH�PLFURSURFHVVRU��,Q�WKH�LQLWLDOVWDWH�� WKH� SHDN� GHWHFWRU� LV� LQ� WKH�ZDWFKLQJPRGH��DQG�WKH�VLJQDO�DW�WKH�GHWHFWRU�RXWSXWUHSHDWV� WKH� LQSXW� VLJQDO�� :KHQ� DQ� LQSXWSXOVH�SDVVHV�RYHU�D� VSHFLILHG�WKUHVKROG� �WKHWKUHVKROG�LV�VHW�E\�WKH�PLFURSURFHVVRU�XVLQJD� GLJLWDO� UHVLVWRU��� WKH� FRPSDUDWRU� IXQF �WLRQV�� :KHQ� WKH� FRPSDUDWRU� SDVVHV� RYHUIURP� ���� WR� ����� WKH�SHDN� GHWHFWRU�JRHV� WRWKH� VWRUDJH� PRGH� DQG� UHFRUGV� WKH� SXOVHPD[LPXP�� $IWHU� D� WLPH� LQWHUYDO� HTXDO� WRWKH�VKDSHU� WLPH�SOXV� RQH�PLFURVHFRQG� �FRQ �WUROOHG� E\� WKH� PLFURSURFHVVRU��� DQ� $'&ODXQFKLQJ� VLJQDO� LV� IRUPHG�� DQG� WKH� SHDNGHWHFWRU� JRHV� EDFN� WR� WKH� ZDWFKLQJ� PRGHDQG�ZDLWV� IRU� WKH�QH[W�SXOVH��7KH�UHVXOW�RI$'&� WUDQVIRUPDWLRQ� LV� ZULWWHQ� WR� 5$0XQGHU� FRQWURO� RI� WKH� PLFURSURFHVVRU�� 7KHGDWD�VWRUHG�LQ�5$0��VSHFWUD��DUH� WUDQV�IHU �UHG�WR�WKH�FRPSXWHU�XVLQJ�D�56�����SRUW�7R�PDNH�WKH�UHVXOWV�OHVV�GHSHQGHQW�XSRQWKH�ORDG��FRUUHFWLRQ�RI�WKH�¶���OLQH�LV�HQYLV �DJHG�LQ�WKH�SHDN�GHWHFWRU��7KH�FRUUHFWLRQ�LVHQVXUHG� E\� PHDVXUHPHQW� RI� WKH� ���� OLQHELDV� DQG� LQWURGXFLQJ� WKLV� FRUUHFWLRQ� LQ� DQDQDORJ� IRUP� WKURXJK� WKH� VXPPDWRU�� ,QPHDVXULQJ� VSHFWUD� XQGHU� KLJK� ORDGV�� VRPHSXOVHV�DUH�QRW�UHFRUGHG��ORDG�!���N+]���)RUPHDVXUHPHQWV�XQGHU�VXFK�ORDGV��D�FRXQWLQJFKDQQHO� LV� SURYLGHG� WKDW� HQVXUHV� RSHUDWLRQXS�WR�����N+]��7KH�FXUUHQW�PHDVXUHPHQW�LVFDUULHG� RXW� LQ� WKH� SKRWRGLRGH� ELDV� FLUFXLW�7KH�SKRWRGLRGH�FXUUHQW�JRHV�WKURXJK�D�FXU �UHQW�PHDVXULQJ�UHVLVWRU�5L ����NΩ��DQG�WKHYROWDJH�IDOO�RQ�WKLV�UHVLVWRU� LV�PHDVXUHG�E\WKH����FKDQQHO�VLJPD�GHOWD�$'&��7KH�UHVXOW
1HZV�RI�7HFKQRORJ\
)XQFWLRQDO�PDWHULDOV������������� ���
LV� VHQW� WR� 5$0� DQG� IXUWKHU� WR� WKH� FRP �SXWHU��$'&� LV� FRQWUROOHG� E\� LWV� RZQ�PLFUR �SURFHVVRU��7KH�5�L��5��& FLUFXLW�RI�WKH�PHWHULV�GHVLJQHG�WR�FRPSHQVDWH�IRU�FXUUHQW�RVFLO �ODWLRQV�UHODWHG�WR�WKH�ELDV�VRXUFH�LQVWDELOLW\�7R�DFFRXQW�IRU�FXUUHQW�YDULDWLRQV�UHODWHG�WRFKDQJHV� LQ�WKH�SKRWRGLRGH�WHPSHUDWXUH��WKHODWWHU� LV�PHDVXUHG� DQG�� XVLQJ� D� NQRZQ� GH �SHQGHQFH�RI� FXUUHQW� RQ� WHPSHUDWXUH�� D� FRU �UHFWLRQ�LV�PDGH�WR�WKH�PHDVXUHPHQW�UHVXOW�8VLQJ� WKH� PHDVXUHPHQW� FKDQQHO� RI$]'&�� WKH� PHDVXUHPHQW� LV� FDUULHG� RXW� LQWKH� VDPH� ZD\�� EXW� WKHUH� LV�� LQ� DGGLWLRQ�� DPLFURSURFHVVRU�PDQDJHU� WKDW� V\QFKURQL]HVRSHUDWLRQ� RI� DOO� WKH� FKDQQHOV� DQG� SHUL �RGLFDOO\�UHDGV�RXW�WKH�GDWD��VSHFWUD�DQG�FXU �UHQWV���ZULWLQJ� WKHP� LQWR� WKH� FRPSXWHU�� ,QFKHFNLQJ�XS�� UHDGRXW� JRHV� WKURXJK� WKH�56�����SRUW�� DQG� LQ� WKH� UHDO� WLPH� VFDOH� RSHUD �WLRQ�²�WKURXJK�/37�SRUW�56����� LV� VORZ� �XS� WR� ����� NE\WH�V�� DWGLVWDQFHV� XS� WR� ��� P�� /37� LV� IDVW�����NE\WH�V��DW�GLVWDQFHV�XS�WR���P�7HFKQLFDO�FKDUDFWHULVWLFV�RI�WKH�GHWHFWLRQEORFN�LQ�WKH�FRXQWLQJ�RSHUDWLRQ�PRGH����(QHUJ\�UDQJH��0H9�²���������� 0D[LPXP� SXOVH� IUHTXHQF\� LQ� WKHFRXQWLQJ�PRGH��N+]�²�������2XWSXW�SXOVH�DPSOLWXGH��IRU� ���&V���9²������������7HPSHUDWXUH�VHQVRU�9� �&��²���������7UDQVIRUPDWLRQ�FRHIILFLHQW��P9� �&�²������3RZHU�VXSSO\�YROWDJH��9�²������&RQVXPHG�FXUUHQW��P$�²�������2YHUDOO�GLPHQVLRQV��PP�²���×��×���7HFKQLFDO�FKDUDFWHULVWLFV�RI�WKH�GHWHFWLRQEORFN�LQ�WKH�FXUUHQW�PHDVXUHPHQW�PRGH����� &XUUHQW� PHDVXUHPHQW� UDQJH�� µ$� ²������������ 0HDQ� VTXDUH� HUURU� LQ� �� V� DYHUDJLQJ�Q$�²������� &XUUHQW� PHDVXUHPHQW� GLVFUHWHQHVV�Q$�²�����3RZHU�VXSSO\�YROWDJH��9�²� ±��
,Q� WKH� FRXUVH� RI� H[SHULPHQWV�� '%� QRLVHFKDUDFWHULVWLFV�ZHUH�VWXGLHG�LQ�WKH�FRXQWLQJDQG� FXUUHQW� PRGHV�� FRXQWLQJ� UDWH� DV� IXQF �WLRQ�RI� WKH�PD[LPXP�H[SRVXUH�GRVH� �0('�LQ�WKH�FRXQWLQJ�PRGH��WKH�PHDVXUHG�FXUUHQWDV� IXQFWLRQ� RI� 0('� LQ� WKH� FXUUHQW� PRGH�'%�RSHUDWLRQ�XQGHU�WHPSHUDWXUH�YDULDWLRQV�,Q�)LJ�����WKH�QXPEHU�RI�'%�FRXQWV�SHU�VHF �RQG�LV�VKRZQ�DV�IXQFWLRQ�RI�WKH�FRPSDUDWRUWKUHVKROG��,W�FDQ�EH�VHHQ�WKDW�LQ�WKH�WKUHVK �ROG� UHJLRQ� RI� ��� FKDQQHOV�� WKH� QXPEHU� RIFRXQWV� LV� VKDUSO\� LQFUHDVHG�� ZKLFK� VKRZVWKDW� QRLVH� SXOVHV�PDNH� D� SUHGRPLQDQW� FRQ �WULEXWLRQ�WR�WKH�FRXQWLQJ�FKDQQHO��7KH�QRLVHFRQWULEXWLRQ� LV� IHOW� VWDUWLQJ� IURP� WKH� ����FKDQQHO�WKUHVKROG��ZLWK�D�VPRRWK�LQFUHDVH�WR �ZDUGV� ���� FKDQQHOV�� 7KXV�� WKH� FRPSDUDWRUOHYHO�VKRXOG�EH�VHW�DURXQG�WKH�YDOXHV�RI����������DGMXVWLQJ�LW�LQGLYLGXDOO\�IRU�HDFK�'%��0HDVXUHPHQWV� ZHUH� FDUULHG� RXW� VLPXOWD �QHRXVO\� IRU� WZR� VKDSLQJ� WLPHV�²��� µV� DQG��µV��KRZHYHU��WKH�%'�QRLVH�SUDFWLFDOO\�ZDVQRW� GHSHQGHQW� XSRQ� VKDSLQJ� WLPH�� 7KH� '%GDUN� FXUUHQW� ZDV� PHDVXUHG� LQ� WKH� FXUUHQWPRGH�� ZLWK� PHDVXUHPHQWV� FDUULHG� RXW� IRU��� V�������PHDVXUHPHQWV���$V�D�UHVXOW��WKHKLJKHVW�FXUUHQW�ZDV�,G �������Q$��WKH�ORZ�HVW�²� ,G ������ Q$��7KH�PD[LPXP�VFDWWHUZDV� ����� Q$�� DQG� WKH� DYHUDJH� YDOXH� ²����� Q$�� 7KH�'%� GDUN� FXUUHQW� GLG� QRW� GH �SHQG�XSRQ�WKH�FRPSDUDWRU�WKUHVKROG�DQG�WKHVKDSLQJ� WLPH�� 7KHQ�ZH� VWXGLHG� WKH� '%� HQ �HUJ\�GHSHQGHQFH�LQ�WKH�VSHFWURPHWULF�PRGH�,Q� RXU�PHDVXUHPHQWV��ZH�XVHG�26*,�VWDQG �DUG�UDGLDWLRQ�VRXUFHV��PHDVXUHPHQW�WLPH�²���� V�� VKDSLQJ� WLPH� ²� �� µV�� 7KH� VRXUFHVZHUH�ORFDWHG�DJDLQVW�WKH�VLGH�VXUIDFH�RI�WKHGHWHFWRU��7KH�PHDVXUHPHQWV�UHVXOWV�DUH�SUH �VHQWHG�LQ�7DEOH���7KXV�� FRXQWLQJ� RYHU� HQHUJ\� EHJLQV� IURPWKH���WK FKDQQHO� �ZKLFK� FRUUHVSRQGV� WR� WKH��NH9�HQHUJ\���7KH�SRLQW�YDOXH�RI�RQH�FKDQ �
)LJ����� (QHUJ\� GHSHQGHQFH� RI� WKH� GHWHFWLRQEORFN�VLJQDO�DPSOLWXGH�
)LJ�����3XOVH�FRXQWLQJ�DV�IXQFWLRQ�RI�WKH�FRP�SDUDWRU�WKUHVKROG�OHYHO��xKDQQHOV�QXPEHU�3��
1HZV�RI�7HFKQRORJ\
��� )XQFWLRQDO�PDWHULDOV�������������
QHO�LV�a�����NH9��7KH� ���$P OLQH�������NH9�OLHV� LQ� WKH� QRLVHV� �DW� WKH� WKUHVKROG� RI��� FKDQQHOV�� RQO\� WKH� ULJKW�KDQG� VORSH� RIWKH� SKRWRSHDN� FDQ� EH� REVHUYHG��� 7KH� SKR �WRSHDN� PD[LPXP� VKRXOG� SUHVXPDEO\� EH� LQWKH���WK FKDQQHO��ZLWK�HQHUJ\�UHVROXWLRQ�RIa��� ��� )RU� WKH� 26*,� VRXUFH�� WKH� VLJQDO� WRQRLVH� UDWLR� LV�a�����DW�WKH�SKRWRSHDN�PD[L �PXP��)LJ����VKRZV�WKH�HQHUJ\�GHSHQGHQFH�RIWKH�'%� VLJQDO� DPSOLWXGH��$V� LW� FDQ� EH� VHHQ�VLJQDO� DPSOLWXGH� LV� OLQHDUO\� GHSHQGHQW� XSRQ
γ�UDGLDWLRQ� HQHUJ\�� DQG� WKH� VSHFWURPHWULFPRGH�RI�'%�RSHUDWLRQ�EHJLQV�IURP�����NH9�$IWHU� WKDW��ZH� VWXGLHG� WKH� HIIHFW� RI� WKHFRPSDUDWRU� WKUHVKROG� DQG� SXOVH� VKDSLQJWLPH� PXOWLSOLHG� E\� FRXQWLQJ� UDWH� DV� IXQF �WLRQ� RI� WKH� H[SRVXUH� GRVH� UDWH� �('5��� 7KH���&V VRXUFH� RI� DQ� 26*,� VHW� ZDV� IL[HG� LQWKH� FROOLPDWRU� DW� WKH� EHJLQQLQJ� RI� DGRVLPHWULF� GHWHFWRU� DUUD\� DQG� ZDV� QRWPRYHG�� '%� ZDV� IL[HG� RQ� D� URWDWLQJ� WDEOHZLWK�LWV�EDVH�VLGH�GLUHFWHG�WR�WKH�VRXUFH��'%LV� GHVLJQHG� LQ� VXFK� D� ZD\� WKDW� DW� ODUJHORDGV� �DERYH� ��� N+]�� VRPH� SXOVHV� DUH� QRWUHFRUGHG�LQ�VSHFWUXP�PHDVXUHPHQWV��7KHUH �IRUH��OLQHDU�GHSHQGHQFH�RI�WKH�FRXQWLQJ�UDWHXSRQ� ('5� IRU� WKH� ���&V SKRWRSHDN� LV� SUH�VHUYHG� RQO\� ZLWK� WKH� FRPSDUDWRU� WKUHVKROGa����FKDQQHOV�DQG�FRUUHVSRQGV�WR�WKH�HQHUJ\RI�����NH9��,Q�VSLWH�RI�WKH�IDFW�WKDW�DW�ODUJHORDGV�VKRUWHU�VKDSLQJ�WLPHV�DUH�UHFRPPHQGHGWR� EH� VHW�� WKH� VKDSLQJ� WLPH� GRHV� QRW� SUDFWL �FDOO\�DIIHFW�WKH�FRXQWLQJ�UDWH�DW�KLJK�('5�,Q� )LJ����� FRXQWLQJ� UDWH� YV�� ('5� LVVKRZQ� DW� WKH� FRPSDUDWRU� WKUHVKROG� RI� ���FKDQQHOV�� ,Q� )LJ����� '%� FRXQWLQJ� UDWH� LVVKRZQ� DV� IXQFWLRQ� RI� ('5� IRU� GLIIHUHQWFRPSDUDWRU� WKUHVKROG� YDOXHV� �VKDSLQJ� WLPH��µV��� ,W� FDQ�EH� VHHQ� WKDW�ZKHQ� WKH�WKUHVK �
ROG�LV�KLJKHU�WKDQ�����FKDQQHOV��WKH�QXPEHURI�FRXQWV�VKDUSO\�LQFUHDVHV�GXH�WR�FRQWULEX �WLRQ� IURP�QRLVH��'%�FXUUHQW�YV��('5�VWXG �LHV�ZHUH�FDUULHG�RXW�XVLQJ�WKH� ���&V VRXUFH1R������ 7KH� WHPSHUDWXUH� ZDV� PHDVXUHGXVLQJ�D� WKHUPRPHWHU�� LQFUHDVLQJ� IURP�����WR� �����&� LQ� WKH� FRXUVH� RI� PHDVXUHPHQWV�7KH�PHDVXUH�PHQW�WLPH�ZDV����V��6DPSOLQJWLPH� IURP� WKH� FRPSXWHU� WR� PLFURSURFHVVRULV���V��5HVXOWV�RI�WKH�PHDVXUHPHQWV�DUH�SUH �VHQWHG�LQ�7DEOH����VKRZLQJ�WKDW�WKH�VKDSLQJWLPH� DQG� WKH� FRPSDUDWRU� WKUHVKROG� GR� QRWDIIHFW�WKH�FXUUHQW�JRLQJ�WKURXJK�WKH�SKRWR �GLRGH�� 7KH� UDQJH� ZKHUH� FXUUHQW� YV�� ('5OLQHDULW\� LV� SUHVHUYHG� LV� ���� P5�K�� :KHQ('5�ULVHV�DERYH�WKLV�YDOXH��WKH�FXUUHQW�FRQ �WLQXHV�WR�JURZ��EXW�WKH�OLQHDULW\�LV�YLRODWHG�7DEOH����� 7KH� PLQLPXP� ('5� YDOXH� DWZKLFK� FXUUHQW� EHJLQV� WR� QRWLFHDEO\� �E\������GLIIHU�IURP�WKH�GDUN�FXUUHQW�YDOXH�LVa����µ5�K�� 7KH� PD[LPXP� ('5� YDOXH� DWZKLFK�RXU�H[SHULPHQWV�ZHUH�FDUULHG�RXW�ZDV����� 5�K� �PHDVXUHPHQWV� ZLWK� WKUHH� ���&VVRXUFHV��1R�����������DQG������,Q� 6�3'� V\VWHPV�� GHSHQGHQFHV� RI� '%FKDUDFWHULVWLFV� XSRQ� WHPSHUDWXUH� DUH� YHU\LPSRUWDQW�� 7R� VWXG\� WKLV� GHSHQGHQFH�� '%
)LJ����� &RXQWLQJ� UDWH� RI� WKH� GHWHFWLRQ� EORFNDV� IXQFWLRQ�RI� H[SRVXUH�GRVH�UDWH� IRU�GLIIHU�HQW�FRPSDUDWRU�WKUHVKROGV�3�)LJ� ���&RXQWLQJ�UDWH�RI�WKH�GHWHFWLRQ�EORFN�DVIXQFWLRQ�RI�H[SRVXUH�GRVH�UDWH�����&V�VRXUFH��� ²�VKDSLQJ�WLPH���µV��� ²VKDSLQJ�WLPH���µV
)LJ�����'HWHFWLRQ�EORFN�FXUUHQW�DV�IXQFWLRQ�RIH[SRVXUH�GRVH�UDWH��&V��� VRXUFH��
1HZV�RI�7HFKQRORJ\
)XQFWLRQDO�PDWHULDOV������������� ���
7DEOH���1XFOLGH p��NH9 7KUHVKROG�FKDQQHOV 3XOVHV�SHU����V�xnr 5HVROXWLRQ��� z��FKDQQHOV zFDOF��FKDQQHOV���$P ���� � � � � ����&R ��� �� ������ ���� ��� ������&V ��� ��� ����� ��� ��� ���&R ���� ��� ����� ��� ��� ������� ��� ���� ����1RWH��z LV�WKH�FKDQQHO�QXPEHU�FRUUHVSRQGLQJ�WR�WKH� γ�OLQH�SKRWRSHDN�PD[LPXP��zFDOF � FDOFXODWHG�FKDQQHO�QXPEHU��$SSUR[LPDWLRQ�IRU�'%���zFDOF� ��������éc�7DEOH����
5��P� ����� ����� ����� �����('5��P5�K ������ ������� ������� �������W�� �& ����� ����� ��� �����&XUUHQW��Q$� ������ ������ ������ ������
1RWH��5� LV�WKH�GLVWDQFH�IURP�WKH�VRXUFH�WR�WKH�GHWHFWRU7DEOH����
5��P� �� �� �� ��� ��('5��P5�K� ������� ������� ������ ����� ����&XUUHQW��Q$� ������ ������ ������ ������ ��
7DEOH����
3DUDPHWHU� 7HPSHUDWXUH��� ��� ��� ��$YHUDJH�GDUN�FXUUHQW�YDOXH��Q$� ����� ����� ������ ������0HDQ�VTXDUH�GHYLDWLRQ�σ��Q$� ������� ������� ������� ������5HODWLYH�GHYLDWLRQ�δ��Q$� ����� ����� ����� ����$YHUDJH�FRXQWLQJ�YDOXH�IRU����V��SXOVHV�� ���� ����� ����� ������0HDQ�VTXDUH�GHYLDWLRQ�σ��SXOVHV�� ���� ���� ���� �����5HODWLYH�GHYLDWLRQ�δ, % ����� ����� ����� ����
7DEOH���
3DUDPHWHU� 7HPSHDUWXUH��� ��� ��� ��$YHUDJH�FXUUHQW�YDOXH��Q$� ����� ����� ������ ������0HDQ�VTXDUH�GHYLDWLRQ�σ��Q$� ����� ����� ����� ����5HODWLYH�GHYLDWLRQ�δ��Q$� ����� ����� ����� ����$YHUDJH�FRXQWLQJ�YDOXH�IRU����V��SXOVHV� �������� ���������� ��������� ���������0HDQ�VTXDUH�GHYLDWLRQ�V��SXOVHV�� ������ �������� �������� ������5HODWLYH�GHYLDWLRQ�δ���� ����� ����� ����� ����
1HZV�RI�7HFKQRORJ\
��� )XQFWLRQDO�PDWHULDOV�������������
ZDV� KHDWHG� LQ� D� PXIIOH� IXUQDFH�� 7KH� WHP �SHUDWXUH� ZDV� PHDVXUHG� ZLWK� D� PHUFXU\WKHUPRPHWHU�� 7KH� GDUN� FXUUHQW� ZDV� PHDV �XUHG�� DV� ZHOO� DV� QXPEHU� RI� FRXQWV�ZLWKRXWJDPPD�VRXUFH� DQG� ZLWK� D� ���&V VRXUFH� RI���� N%T� DFWLYLW\� �������� ,Q� 7DEOH����PHDV �XUHPHQW� UHVXOWV� DUH� SUHVHQWHG� IRU� WKH�GDUNFXUUHQW� ,G DQG� WKH� QXPEHU� RI� FRXQWV� DVIXQFWLRQ� RI� WHPSHUDWXUH� ZLWKRXW� JDPPD�VRXUFH�� ,Q�7DEOH����GDWD�DUH� VKRZQ�IRU�FXU �UHQW�DQG�'%�FRXQWV�DV�IXQFWLRQ�RI�WHPSHUD �WXUH�ZLWK�D����&V VRXUFH���$V�D�UHVXOW�RI�RXU�VWXGLHV��WKH�IROORZLQJFRQFOXVLRQV� FDQ� EH� PDGH�� :LWK� LQFUHDVHGORDGV�� WKH�HQHUJ\�UHVROXWLRQ�EHJLQV�WR�GHWH �ULRUDWH�� ,Q� PHDVXUHPHQWV� ZLWK� D� VRXUFH� RUZLWKRXW�D�VRXUFH��VXEVWDQWLDO�LQFUHDVH�LV�RE �VHUYHG� LQ� WKH� FRXQWLQJ� UDWH� FORVH� WR� WKHFRPSDUDWRU� WKUHVKROG�� ,Q� WKH� FRXQWLQJPRGH�� IRU� SUHVHUYDWLRQ� RI� OLQHDULW\� RYHU('5� IRU� GLIIHUHQW� �DV� IRU� WKHLU� HQHUJLHV�VRXUFHV�� GLIIHUHQW� FRPSDUDWRU� WKUHVKROGVVKRXOG� EH� VHW�� )RU� PHDVXUHPHQWV� LQ� WKHFRXQWLQJ�PRGH�ZLWK�D� ���&V VRXUFH��WKH�RS�WLPXP� FRPSDUDWRU� WKUHVKROG� LV� ���� FKDQ �QHOV�� :LWK� VXFK� WKUHVKROG�� WKH� FRXQWLQJUDWH� YV�� ('5� OLQHDULW\� LV� SUHVHUYHG� XS� WR����P5�K��7KH� OLQHDULW\� UDQJH� IRU� FXUUHQWLV�IURP�����P5�K�WR�����5�K��7KXV��WKHUH
LV� D� FHUWDLQ� RYHUODSSLQJ� RI� WKH� UDQJHV� RIFRXQWLQJ� DQG� FXUUHQW� PRGHV�� :KHQ� ('5ULVHV� DERYH�����5�K�� WKH� FXUUHQW� FRQWLQXHVWR� LQFUHDVH��EXW� LWV� OLQHDULW\�RYHU�('5�ZLOOEH�YLRODWHG��7KH�GDUN�FXUUHQW�GHSHQGHQFH�RQWHPSHUDWXUH�LV�VLPLODU�WR�WKDW�FKDUDFWHULVWLFIRU� +DPDPDWVX� 6�������� SKRWRGLRGHV�� ,QWKH� FRXQWLQJ� PRGH�� VXEVWDQWLDO� LQFUHDVH� LQORDG�ZLWK�WHPSHUDWXUH�LV�DOVR�REVHUYHG�7KXV��ZH�KDYH�GHYHORSHG�DQG�SURGXFHG�DGHWHFWLRQ� EORFN� RSHUDWLQJ� LQ� D� FRPELQHGFRXQWLQJ�FXUUHQW� PRGH� �ZLWK� D� IXQFWLRQ� RIVSHFWURPHWU\��� ZKLFK� FDQ� EH� VXFFHVVIXOO\XVHG� LQ� DQ� D]LPXWKDO�GHWHFWLQJ� FRPSOH[�7KH� '%� KDV� VPDOO� VL]H� DQG�ZHLJKW� DW� KLJKVHQVLWLYLW\� LQ� D� EURDG� UDQJH� RI� JDPPD�UD �GLDWLRQ�GRVHV��������5HIHUHQFHV
���9�'�5\]KLNRY�� 3�(�6WDGQLN�� <X�$�<DNRYOHY�3ULE��L�7HNKQ��(NVS���1R����������������2�-LODU�� <�3HW]�� 3K\V��6WDW��6RO��D��� ���� �������������(�6DNDM�� ,(((�7UDQV��1XFO��6FL��� 16����� �������������(�$�'DQVKLQ�� 9�'�5\]KLNRY�� /�$�3LYHQ¶�(�0�6HOHJHQHY��3ULE�� L�7HNKQ��(NVS���1R�������������
èvoévirj�isvrj�lnznrzykjtt¹�xqxznuqx|qtzqs¹zvé�{vzvlòvl�xwvsy·ntvmv�én quy�évivzq�sò·qs�tv�zvrvkqp��ls¹�joquyzjs�tv�kq¹ktvmvrvuwsnrxy
{�{�sË}¯È°ºm��{�{�r�ãº������l�vËãË�ËÓ¼m�r�{��¯ÒÓ ºm����|�rº¯º�ËÓ}º
èvoévisntv� ujsvmjijéqztqp� isvr� lnznrzykjtt¹� γ�kqwévuòtíkjtt¹� xqxznuq� x|qtzq�s¹zvé�{vzvlòvl���v� wéj|í�� y� lòjwjovtò� ntnémòp� ���������0nÆ� ò� lòjwjovtò� wvzy tvxznplvo�kòl����� lv���� ò�iòs�¡�è�mvl��Èsvr�lnznrzykjtt¹�uj��xyuò�ntqp�éj}ytrvkv�xzéyuv�kqp� én qu�o�{ytr|ò�í�xwnrzévunzéò¢��Ínén}òl� o�éj}ytrvkvmv� én quy�tj� xzéyuvkqp� òtjojl�wév}vlqz��jkzvujzq·tv��Èsvr�lnznrzykjtt¹�wéqotj·ntv�ls¹�kqrvéqxzjtt¹�y�joq�uyzjs�tv�kq¹ks¹í·vuy�rvuwsnrxò�évivzj�évokòltqr��ijmjzv{ytr|òvtjs�tvuy�lvoqunzéò�lvoqunzéò�wnsntmjzvéò�zj�òt��
1HZV�RI�7HFKQRORJ\
)XQFWLRQDO�PDWHULDOV������������� ���
|