6pPLQDLUH#*DVWRQ#%DFKHODUG#=#
O*DQDO\VH#GH#SUDWLTXHV#HQ#TXHVWLRQV#
##
-HDQ03DXO#0DUWLQ/#)RUPDWHXU0&RQVXOWDQW/#&$)2�#1DQWHV#
##
5pXQLV#SHQGDQW#GHX[#MRXUV/#GHV#SURIHVVLRQQHOV#GH#OD#IRUPDWLRQ/#GH#O¶DQLPDWLRQ/#GX#WUDYDLO#
VRFLDO#HW#GHV#FKHUFKHXUV#RQW#PHQp#XQH#UpIOH[LRQ#VXU#O¶DQDO\VH#GH#SUDWLTXHV#HQ#WDQW#TXH#
SURFHVVXV#HW#GLVSRVLWLI#GH#IRUPDWLRQ1#/D#SOXUDOLWp#GHV#SUDWLTXHV/#OD#GLYHUVLWp#GHV#YLVpHV/#
O¶KpWpURJpQpLWp#GHV#PpWKRGHV#LPSRVHQW#HQ#HIIHW#XQ#WUDYDLO#GH#IRQGDWLRQ#SRXU#TXH#FH#³PRW#GH#
SDVVH´#TXL#IOHXULW#DXMRXUG¶KXL#GDQV#OH#FKDPS#GH#OD#IRUPDWLRQ#GHV#DGXOWHV#QH#FRQGXLVH#j##XQH#
LPSDVVH1#
#'H#TXRL#SDUOH0W0RQ#TXDQG#LO#V¶DJLW#G¶DQDO\VH#GH#SUDWLTXHV#"#/HV#WpPRLJQDJHV#+GRQW#FHOXL#GX#
&$)2&#GH#1DQWHV,/#OHV#FRPSWHV#UHQGXV#GH#UHFKHUFKH#HW#OHV#pFKDQJHV#RQW#SHUPLV#GH#FHUQHU#
SURYLVRLUHPHQW#DX#PRLQV#WURLV#IRUPHV#G¶DQDO\VH#GH#SUDWLTXHV1#
#/D#SUHPLqUH#HVW#FHQWUpH#VXU#O¶DQDO\VH#GH#VD#SUDWLTXH#DX#VHQV#G¶XQH#IDoRQ#SHUVRQQHOOH#GH#
WUDYDLOOHU/#GH#O¶H[SUHVVLRQ#HW#GH#O¶HQJDJHPHQW#G¶XQH#SHUVRQQH1#/D#YLVpH#GH#FHWWH#PRGDOLWp#HVW#
GH#IDYRULVHU#O¶pPHUJHQFH#G¶XQH#SUD[LV/#F¶HVW0j0GLUH#G¶XQH#SUDWLTXH#SOXV#ILQDOLVpH/#SOXV#OXFLGH/#
SOXV#FRQVFLHQWH1#1RXV#SRXYRQV#GLUH#TXH#FHWWH#IRUPH#V¶LQVFULW#GDQV#OD#UpIOH[LRQ#TXH#PqQH#OH#
SUDWLFLHQ#VXU#VRQ#WUDMHW1#
#/D#VHFRQGH#HVW#FHQWUpH#VXU#O¶DQDO\VH#GH#SUDWLTXHV#SDUWLFXOLqUHV#DX#VHQV#GH#OD#PLVH#HQ#RHXYUH#GH#
PpWKRGHV#HW#GH#WHFKQLTXHV1#6D#YLVpH#HVW#OHXU#DSSURSULDWLRQ#HQ#SULYLOpJLDQW#O¶pFDUW#HQWUH#OH#
WUDYDLO#UpHO#HW#OH#WUDYDLO#SUHVFULW#GpILQL#GDQV#XQ#UpIpUHQWLHO#SDU#H[HPSOH1#,PSRUWDQWH#HQ#
IRUPDWLRQ#LQLWLDOH/#FHWWH#IRUPH#YLVH#j#SURGXLUH#GH#OD#FRQIRUPLWp1#
#/D#WURLVLqPH#FRQFHUQH#O¶DQDO\VH#GH#VLWXDWLRQV#HW#SULYLOpJLH#OD#UHFKHUFKH#GH#VROXWLRQV#j#GHV#
GLIILFXOWpV#GH#IRQFWLRQQHPHQW1#$#OD#GLIIpUHQFH#GHV#GHX[#DXWUHV#IRUPHV/#HOOH#VH#FHQWUH#VXU#XQ#
FRQWH[WH#HW#XQ#IRQFWLRQQHPHQW#JOREDO#HW#QRQ#VXU#O¶DJLU#VLQJXOLHU#G¶XQH#SHUVRQQH#HQJDJpH#GDQV#
XQ#WHO#HQYLURQQHPHQW1#6D#YLVpH#V¶LQVFULW#DORUV#GDQV#XQH#SHUVSHFWLYH#GH#UpJXODWLRQ1#
##
6L# FHV# WURLV# IRUPHV# G¶DQDO\VH# V¶LQVFULYHQW# GDQV# XQH# ILQDOLWp# GH# WUDQVIRUPDWLRQ# HW# GH#
FKDQJHPHQW/#OHXUV#YLVpHV#VRQW#GLIIpUHQWHV#HW#OHXUV#REMHWV#GLVWLQFWV1#,O#HQ#HVW#GH#PrPH#SRXU#
O¶HQJDJHPHQW#GHV#SHUVRQQHV#GDQV#XQ#WHO#SURFHVVXV#HW#OH#WUDYDLO#GH#O¶DQLPDWHXU1#(Q#HIIHW/#V¶LO#
FKHPLQH#DX[#F{WpV#GH#OD#SHUVRQQH#TXL#DQDO\VH#VD#SUDWLTXH#VDQV#OXL#LPSRVHU#XQH#GLUHFWLRQ/#LO#
RFFXSH#XQH#SRVLWLRQ#GLIIpUHQWH#GDQV#OHV#DXWUHV#VLWXDWLRQV#FDU#LO#HVW#XQ#SDV#HQ#DYDQW#GH#OD#
SHUVRQQH#LQIOXHQoDQW#DLQVL#OD#GLUHFWLRQ#j#SUHQGUH1#'H#SOXV#FDUDFWpULVHU#FHV#WURLV#IRUPHV#DLGH#
O¶DQLPDWHXU#j#UpJXOHU#VRQ#DFWLRQ#HQ#LQWHUURJHDQW#O¶HQWUpH#TXL#V¶LPSRVH#RX#TX¶LO#SULYLOpJLH# =#
HQWUpH#SDU#O¶LPSOLFDWLRQ#HW#O¶pOXFLGDWLRQ#GH#O¶DFWLRQ/#HQWUpH#SDU#OHV#VDYRLUV#HW#WHFKQLTXHV/#HQWUpH#
SDU#OH#FRQWH[WH#RX#OH#SUREOqPH1#
##
&H#VpPLQDLUH#%DFKHODUG#RUJDQLVp#HW#SLORWp#SDU#0LFKHO#%HUQDUG/#SURIHVVHXU#GHV#8QLYHUVLWpV/#D#
pWp#XQ#WHPSV#IpFRQG#GH#WUDYDLO#LQWHOOHFWXHO#HW#D#SHUPLV#GH#GpJDJHU#GHV#pOpPHQWV#G¶LQWHOOLJLELOLWp#
GH#FHWWH#UpDOLWp#TX¶HVW#O¶DQDO\VH#GH#SUDWLTXHV#DLQVL#TXH#GHV#SLVWHV#WDQW#SRXU#OHV#SRVLWLRQV#GH#
O¶DQLPDWHXU#TXH#SRXU#OHV#GpPDUFKHV#j#PHWWUH#HQ#RHXYUH1#
