• Aucun résultat trouvé

Verres, vitrocéramiques et céramiques à base de TeO₂ pour l'optique

N/A
N/A
Protected

Academic year: 2021

Partager "Verres, vitrocéramiques et céramiques à base de TeO₂ pour l'optique"

Copied!
230
0
0

Texte intégral

(1)Verres, vitrocéramiques et céramiques à base de TeO� pour l’optique Anthony Bertrand. To cite this version: Anthony Bertrand. Verres, vitrocéramiques et céramiques à base de TeO� pour l’optique. Matériaux. Université de Limoges, 2015. Français. �NNT : 2015LIMO0086�. �tel-01647209�. HAL Id: tel-01647209 https://tel.archives-ouvertes.fr/tel-01647209 Submitted on 24 Nov 2017. HAL is a multi-disciplinary open access archive for the deposit and dissemination of scientific research documents, whether they are published or not. The documents may come from teaching and research institutions in France or abroad, or from public or private research centers.. L’archive ouverte pluridisciplinaire HAL, est destinée au dépôt et à la diffusion de documents scientifiques de niveau recherche, publiés ou non, émanant des établissements d’enseignement et de recherche français ou étrangers, des laboratoires publics ou privés..

(2) Thèse de doctorat. Université de Limoges École Doctorale Sciences et Ingénierie en Matériaux, Mécanique, Énergétique et Aéronautique (ED 522) SPCTS Thèse pour obtenir le grade de. Docteur de l’Université de Limoges Discipline / Spécialité : Matériaux céramiques et traitements de surface Présentée et soutenue par. Anthony Bertrand Le 23 octobre 2015. Verres, vitrocéramiques et céramiques à base de TeO2 pour l’optique Thèse dirigée par Gaëlle DELAIZIR, Jean-René DUCLERE et Philippe THOMAS JURY : Rapporteurs Annie Pradel, Directrice de Recherche CNRS – ICG, Montpellier Xiang-Hua Zhang, Directeur de Recherche CNRS – ISCR, Rennes Examinateurs Mathieu Allix, Chargé de Recherche CNRS au CEMHTI – CNRS Orléans Gaëlle Delaïzir, Maître de Conférences – SPCTS, Limoges Jean-René Duclère, Maître de Conférences – SPCTS, Limoges Philippe Thomas, Directeur de Recherche CNRS – SPCTS, Limoges Invité Sébastien Chenu, Maître de Conférences – SPCTS, Limoges.

(3)

(4) 'URLWVG¶DXWHXUV &HWWHFUpDWLRQHVWPLVHjGLVSRVLWLRQVHORQOH&RQWUDW ©$WWULEXWLRQ3DVG 8WLOLVDWLRQ&RPPHUFLDOH3DVGHPRGLILFDWLRQ)UDQFHª GLVSRQLEOHHQOLJQHKWWSFUHDWLYHFRPPRQVRUJOLFHQVHVE\QFQGIU. . . . $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(5) 7DEOHGHVPDWLqUHV. ,QWURGXFWLRQ &KDSLWUH,eWDWGHO¶DUWYHUUHVHWYLWURFpUDPLTXHVSURSULpWpVRSWLTXHV ,9HUUHVHWYLWURFpUDPLTXHV ,/HYHUUHHWVHVSURSULpWpV ,(ODERUDWLRQGHVYLWURFpUDPLTXHV ,/HVPpFDQLVPHVGHFULVWDOOLVDWLRQ ,7KpRULHGH.ROPRJRURY-RKQVRQ0HKO$YUDPL .-0$

(6)  ,'LDJUDPPH777 4XHOTXHVQRWLRQVG¶RSWLTXH ,2ULJLQHGHODUpSRQVHQRQOLQpDLUHGDQVOHVYHUUHV ,*pQpUDWLRQGH6HFRQGH+DUPRQLTXH 6+*

(7)  ,*UDQGVSULQFLSHVGHODGLpOHFWULFLWpHWGHODIHUURpOHFWULFLWp , /XPLQHVFHQFH GHV LRQV GH WHUUHV UDUHV HW DSSOLFDWLRQV GDQV OHV YLWURFpUDPLTXHV 3URSULpWpVVWUXFWXUDOHVGHVFRPSRVpVWHOOXULWHVHWGHVFULSWLRQGHODVWUXFWXUHGHV SKDVHVFULVWDOOLQHV7H2ĮHW7H2J ,7H2Į , 7H2Ȗ ,3URSULpWpVYLEUDWLRQQHOOHVGHFHVSKDVHV &KDSLWUH,,eODERUDWLRQGHYHUUHVHWYLWURFpUDPLTXHVWUDQVSDUHQWVSDUIULWWDJHIODVKGH SRXGUHVGHYHUUH (WDWGHO¶DUWGXV\VWqPH7H2:2  &ULVWDOOLVDWLRQ QRQFRQYHQWLRQQHOOH  IULWWDJHFULVWDOOLVDWLRQ SDU 6SDUN 3ODVPD 6LQWHULQJ 636

(8)  $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(9) ,,'HVFULSWLRQHWLQWpUrWGX636 ,,0pFDQLVPHVGHIULWWDJHVHQSKDVHOLTXLGHHWHQIOX[YLVTXHX[ ,,0HVXUHVGHYLVFRVLWpHQWHPSpUDWXUH ,,(ODERUDWLRQGHYHUUHVHWYLWURFpUDPLTXHVWUDQVSDUHQWHVSDUIULWWDJH636 &DUDFWpULVDWLRQGHOD6+*GHVYLWURFpUDPLTXHV636 %LODQ &KDSLWUH ,,, eODERUDWLRQ G¶XQH YLWURFpUDPLTXH WUDQVSDUHQWH  j EDVH GH FULVWDX[ IHUURpOHFWULTXHV ,,,(WDWGHO¶DUW ,,,,QWpUrWHQRSWLTXHQRQOLQpDLUHG¶XQHYLWURFpUDPLTXHWUDQVSDUHQWHEDVpHVXU GHVFULVWDX[IHUURpOHFWULTXHV ,,,'HVFULSWLRQGHVSKDVHVFULVWDOOLQHV/L1E2HW1D%L7L2 ,,,&ULVWDOOLVDWLRQ©FODVVLTXHªGHYHUUHVGXV\VWqPH7H2/L21E2 ,,, 'LVSHUVLRQGHFULVWDX[IHUURpOHFWULTXHVGDQVXQHPDWULFHYLWUHXVH ,,,'LVSHUVLRQGHQDQRSDUWLFXOHVPpWDOOLTXHVGDQVXQYHUUH ,,, 'LIIpUHQWHV YRLHV GH FULVWDOOLVDWLRQ GH /L1E2 DX VHLQ G¶XQ YHUUH GX V\VWqPH 7H2/L21E2 ,,,'RPDLQHYLWUHX[ IXVLRQjƒ&WUHPSHjƒ&

(10)  ,,, (WXGH GH OD FULVWDOOLVDWLRQ GX YHUUH  7H2 ±  /L2 ±  1E2  ,,,eODERUDWLRQG¶XQHYLWURFpUDPLTXHjO¶DLGHXQDJHQWQXFOpDQW ,,,3UpFLSLWDWLRQGHFULVWDX[GH/L1E2SDUUHIURLGLVVHPHQWFRQWU{Op ,,,9RLHFRPSRVLWHGLVSHUVLRQGHFULVWDX[IHUURpOHFWULTXHVGDQVXQYHUUHWHOOXULWH  ,,,3DUIXVLRQGHSRXGUHVYHUUHWHOOXULWHFULVWDX[IHUURpOHFWULTXHV ,,, 3DU IOXDJHIULWWDJH GH SRXGUHV  YHUUH WHOOXULWH  FULVWDX[ IHUURpOHFWULTXHV  $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(11) ,,,%LODQ &KDSLWUH ,9 9HUUHV YLWURFpUDPLTXHV HW FpUDPLTXHV WUDQVSDUHQWV GDQV OH V\VWqPH 7H2±%L2±1E2 ,9(WDWGHO¶DUW ,9 1RXYHOOH PpWKRGH G¶pODERUDWLRQ G¶XQH FpUDPLTXH WUDQVSDUHQWH  OD FULVWDOOLVDWLRQFRQJUXHQWHjSDUWLUGXYHUUH ,95DSSHOVVXUOHV\VWqPH7H2%L21E2 ,95DSSHOVVXUOHVSKDVHV%L1E7H2HW%L7H2 ,9eODERUDWLRQGHYLWURFpUDPLTXHVHWFpUDPLTXHVWHOOXULWHVWUDQVSDUHQWHV ,9$SDUWLUGHODFRPSRVLWLRQYLWUHXVH7H2 %L21E2 %L1E7H2

(12)  ,9$SDUWLUGHODFRPSRVLWLRQYLWUHXVH7H2%L21E2 %LODQ &RQFOXVLRQVHWSHUVSHFWLYHV 5pIpUHQFHVELEOLRJUDSKLTXHV $QQH[H/DGLIIXVLRQ5DPDQHWVRQDSSOLFDWLRQjODVSHFWURVFRSLH5DPDQ $QQH[H/DGLIIXVLRQ5DPDQ $QQH[H'LVSRVLWLIH[SpULPHQWDO $QQH[H/RLGH6FKHUUHU $QQH[H  3URWRFROH GH SUpSDUDWLRQ GH SRXGUH GH 1%7 SDU XQH PpWKRGH K\GURWKHUPDOH  . $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(13) ,QWURGXFWLRQ $ILQ GH UpSRQGUH j XQH GHPDQGH WRXMRXUV FURLVVDQWH GDQV OH GRPDLQH GHV WpOpFRPPXQLFDWLRQV HW QRWDPPHQW SRXU OH WUDQVSRUW XOWUD±UDSLGH G¶LQIRUPDWLRQV GH QRPEUHXVHVUHFKHUFKHVVRQWD[pHVVXUOHGpYHORSSHPHQWGHV\VWqPHV©WRXWRSWLTXHª RXpOHFWURRSWLTXHVSRXUODGpWHFWLRQOHVWRFNDJHHWOHWUDQVIHUWGHO¶LQIRUPDWLRQ2U OHVGLVSRVLWLIVpOHFWURQLTXHVDFWXHOVVRXIIUHQWGHWHPSVGHUpSRQVH©ORQJVª  V

(14) SDUUDSSRUWjFHX[PHWWDQWHQMHXGHVSKpQRPqQHVG¶RSWLTXHQRQOLQpDLUHGRQWOHV. WHPSVGHUpSRQVHVHPHVXUHQWHQSLFRVHFRQGHV V

(15) YRLUHHQIHPWRVHFRQGHV  V

(16) . $LQVL SDUPL XQ YDVWH FKRL[ GH PDWpULDX[ RSWLTXHPHQW QRQ OLQpDLUHV FULVWDX[ SRO\PqUHV YHUUHV«

(17)  OHV YHUUHV WHOOXULWHV VRQW GHV FDQGLGDWV LQWpUHVVDQWV HQ SDUWLFXOLHUSRXUODUpDOLVDWLRQGHV\VWqPHVRSWLTXHVWHOVTXHOHVJXLGHVG¶RQGHHWOHV FRPPXWDWHXUV XOWUDUDSLGHV HQ UDLVRQ GH OHXU UpSRQVH QRQ OLQpDLUH pOHYpH ELHQ VXSpULHXUHjODVLOLFHYLWUHXVH YDOHXUVGH VXVFHSWLELOLWpQRQOLQpDLUHG¶RUGUHWURLVOHV SOXVpOHYpHVSDUPLOHVYHUUHVG¶R[\GHV

(18) /HXUODUJHGRPDLQHGHWUDQVSDUHQFHGDQVOH YLVLEOHDLQVLTXHOHSURFKHLQIUDURXJHFRQVWLWXHDXVVLXQDWRXWGHFHVYHUUHV(QRXWUH OHV YHUUHV SUpVHQWHQW GHV TXDOLWpV HVVHQWLHOOHV SRXU OH GpYHORSSHPHQW GH FHV GLVSRVLWLIV  IDFLOLWp G¶pODERUDWLRQ IDLEOH FR€W DLQVL TX¶XQH JUDQGH GLYHUVLWp GH FRPSRVLWLRQVFRQWUDLUHPHQWDX[PRQRFULVWDX[ &HSHQGDQWO¶DEVHQFHGHVXVFHSWLELOLWpQRQOLQpDLUHG¶RUGUHGHX[GDQVOHVPDWpULDX[ YLWUHX[ GXIDLW GH OHXULVRWURSLHRSWLTXH DXWUHPHQWGLWGX FDUDFWqUH LVRWURSHHWGRQF ©FHQWURV\PpWULTXHªGHOHXUUpVHDXYLWUHX[HPSrFKHOHXUXWLOLVDWLRQSRXUFHUWDLQHV DSSOLFDWLRQV ,O HVW FHSHQGDQW SRVVLEOH G¶LQGXLUH GHV HIIHWV QRQ OLQpDLUHV GH VHFRQG RUGUHGDQVFHUWDLQVYHUUHVJUkFHjODUXSWXUHGHO¶LVRWURSLHRSWLTXHSDUDSSOLFDWLRQGH WHFKQLTXHV GH © SROLQJ ª SRODULVDWLRQ WKHUPLTXH VRXV FKDPS pOHFWULTXH DSSHOpH SROLQJWKHUPLTXHRXSRODULVDWLRQSDULUUDGLDWLRQODVHUDSSHOpHSROLQJRSWLTXH

(19) RXYUDQW DLQVLODYRLHjODPLVHDXSRLQWGHGLVSRVLWLIVEDVpVVXUGHWHOVHIIHWV /HV PpFDQLVPHV j O¶RULJLQH GH O¶DSSDULWLRQ G¶XQ GRXEODJH GH OD IUpTXHQFH G¶XQ UD\RQQHPHQW OXPLQHX[ TXDOLILpH GH JpQpUDWLRQ GH VHFRQGH KDUPRQLTXH 6+*

(20)  UHSRVH. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(21) -. VXU OH FRXSODJH GH OD VXVFHSWLELOLWp QRQ OLQpDLUH G¶RUGUH WURLV LQWULQVqTXH DX PDWpULDXHWOHFKDPSpOHFWULTXHVWDWLTXHLQWHUQHLQGXLWGDQVFHOXLFL. -. HW VXU OD SUpVHQFH G¶HQWLWpV SRODLUHV VXVFHSWLEOHV GH VH UpRULHQWHU ORUV GX WUDLWHPHQWGHSROLQJ. 7RXWHIRLV j O¶DLGH GH FHV WHFKQLTXHV GH SROLQJ OHV SHUIRUPDQFHV GH FHUWDLQV PRQRFULVWDX[QRQFHQWURV\PpWULTXHVWHOVTXHOH.73 .7L232

(22) .'3 .+32

(23) RX HQFRUHOH/L1E2VRQWHQFRUHORLQG¶rWUHpJDOpHV8QHDXWUHPpWKRGHSHUPHWWDQWOD UXSWXUH GH OD FHQWURV\PPpWULH GDQV OHV YHUUHV HVW VRXYHQW SUpIpUpH ,O V¶DJLW GH OD UpDOLVDWLRQ GH YLWURFpUDPLTXHV WUDQVSDUHQWHV SDU FULVWDOOLVDWLRQ DX VHLQ GHV YHUUHV G¶XQHSKDVHQRQFHQWURV\PpWULTXHUHVSRQVDEOHGHVSURSULpWpVRSWLTXHVQRQOLQpDLUHV G¶RUGUH GHX[ /HV WUDYDX[ PHQpV DX VHLQ GX ODERUDWRLUH 63&76 GHSXLV SOXVLHXUV DQQpHV VH VRQW IRFDOLVpV VXU OHV PDWpULDX[ YLWUHX[ HW FULVWDOOLVpV j EDVH G R[\GH GH WHOOXUHHWRQWQRWDPPHQWSHUPLVGHPHWWUHHQpYLGHQFHHWGHFDUDFWpULVHUXQHJDPPH WUqVpWHQGXHGHYHUUHVSUpVHQWDQWGHVSURSULpWpVRSWLTXHVQRQOLQpDLUHVSHUIRUPDQWHV /HFRQWU{OHGHODFULVWDOOLVDWLRQVXUFHW\SHGHYHUUHVHWO¶pWXGHLQGXLWHGHODJpQpUDWLRQ GHVHFRQGHKDUPRQLTXHFRQVWLWXHQWGRQFXQGpYHORSSHPHQWQDWXUHOGHFHVQRXYHDX[ PDWpULDX[HQYXHG¶DSSOLFDWLRQVGDQVOHGRPDLQHGHODSKRWRQLTXH (Q SDUDOOqOH GH QRPEUHXVHV UHFKHUFKHV VRQW pJDOHPHQW PHQpHV VXU OD SKRWROXPLQHVFHQFHHWO¶pPLVVLRQODVHUSURYHQDQWG¶LRQVGHWHUUHVUDUHVLQVpUpVDXVHLQ GHV YHUUHV WHOOXULWHV GX IDLW GH OHXU ODUJH GRPDLQH GH WUDQVSDUHQFH GH OHXU IDLEOH FRHIILFLHQWG¶DEVRUSWLRQGHOHXUVIDLEOHVpQHUJLHVGHSKRQRQDLQVLTXHG¶XQHPHLOOHXUH VROXELOLWp GHV LRQV WHUUHV UDUHV FRPSDUDWLYHPHQW DX[ YHUUHV GH VLOLFH 7RXV FHV SDUDPqWUHVIDYRULVHQWOHVSKpQRPqQHVG¶DEVRUSWLRQSKRWRQLTXHSDUOHVLRQVGHWHUUHV UDUHVDLQVLTXHOHXUGpVH[FLWDWLRQUDGLDWLYHDXWUHPHQWGLWXQHH[FLWDWLRQSOXVHIILFDFH HW XQH pPLVVLRQ SOXV LQWHQVH (Q RXWUH REWHQLU GHV YLWURFpUDPLTXHV j SDUWLU GH FHV PDWpULDX[HQLQVpUDQWOHVLRQVGHWHUUHVUDUHVGDQVOHVFULVWDX[IRUPpVFRQIpUHUDLWj FHVGHUQLHUVXQHQYLURQQHPHQWPRLQV©SHUWXUEpªG¶XQSRLQWGHYXHFULVWDOORJUDSKLTXH HWGRQFFRUUHVSRQGDQWjXQHSOXVEDVVHpQHUJLHGHSKRQRQ

(24) IDYRUDEOHjGHPHLOOHXUV UHQGHPHQWVTXDQWLTXHVGHOXPLQHVFHQFH (QILQ QRWUH REMHFWLI XOWLPH VHUDLW GH SRXYRLU FRPELQHU OHV SKpQRPqQHV GH 6+* HW G¶pPLVVLRQ ODVHU DX VHLQ G¶XQH YLWURFpUDPLTXH $LQVL O¶LGpH GLUHFWULFH VHUDLW TXH OD $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(25) ORQJXHXU G¶RQGH G¶pPLVVLRQ ODVHU UHODWLYH DX[ LRQV GH WHUUHV UDUHV VRLW HOOHPrPH GRXEOpHHQIUpTXHQFHSDUOHVFULVWDX[QRQFHQWURV\PpWULTXHVSUpVHQWVGDQVOHF°XU GH OD YLWURFpUDPLTXH'DQV FH FDV RQSDUOH DORUVG¶pPLVVLRQ ODVHUDXWRGRXEOpH HQ IUpTXHQFH-XVTX¶jDXMRXUG¶KXLFHSKpQRPqQHQ¶DSXrWUHREVHUYpTX¶jO¶DLGHGHGHX[ PDWpULDX[GLVWLQFWV/¶LQWpUrWPDMHXUGHFHW\SHGHYLWURFpUDPLTXHUpVLGHGRQFGDQVOH IDLWTXHFHSKpQRPqQHSRXUUDLWrWUHJpQpUpDXVHLQG¶XQXQLTXHPDWpULDX &HPDQXVFULWV¶DUWLFXOHDXWRXUGHTXDWUHFKDSLWUHV /HSUHPLHUFKDSLWUHHVWFRQVDFUpDX[PpFDQLVPHVHWPpWKRGHVGpFULYDQWODIDEULFDWLRQ GHVYLWURFpUDPLTXHVDLQVLTX¶jO¶pWDWGHO¶DUWSRUWDQWVXUOHVYLWURFpUDPLTXHVSUpVHQWDQW GHV SURSULpWpV RSWLTXHV QRQ OLQpDLUHV G¶RUGUH GHX[ DLQVL TXH GHV SURSULpWpV GH OXPLQHVFHQFHORUVTXHFHOOHVFLFRQWLHQQHQWGHVLRQVGHWHUUHVUDUHV /H GHX[LqPH FKDSLWUH FRQFHUQH OD FULVWDOOLVDWLRQ QRQ FRQYHQWLRQQHOOH G¶XQ YHUUH GX V\VWqPH 7H2:2 SDU IULWWDJH IODVK GDQV OH EXW G¶REWHQLU GHV YLWURFpUDPLTXHV FDSDEOHVGHJpQpUHUXQGRXEODJHGHIUpTXHQFHSDUFULVWDOOLVDWLRQLQVLWXGHODSKDVH 7H2J WRXW HQ HVVD\DQW GH FRQVHUYHU XQH WUDQVSDUHQFH RSWLTXH OD SOXV pOHYpH SRVVLEOH /HWURLVLqPHFKDSLWUHFRQFHUQHODUpDOLVDWLRQGHYLWURFpUDPLTXHVWUDQVSDUHQWHVGDQV OHV\VWqPH7H2/L21E2 7/1

(26) SUpVHQWDQWGDQVXQSUHPLHUWHPSVGHVFULVWDX[ j IRUWH QRQOLQpDULWp G¶RUGUH GHX[ /L1E2 QRWDPPHQW

(27)  ORFDOLVpV SULQFLSDOHPHQW HQ VXUIDFH&HFKDSLWUHFRQFHUQHHQVXLWHOHVUHFKHUFKHVH[SORUDWRLUHVYLVDQWjDWWHLQGUH XQHFULVWDOOLVDWLRQHQYROXPHSDUGHVYRLHVTXDOLILpHVGH©FRPSRVLWHVªGLYLVpHVHQ GHX[SDUWLHV. -. XQH SUHPLqUH YRLH XWLOLVDQW GHV SDUWLFXOHV G¶RU PLFURQLTXHV VHUYDQW G¶DJHQW QXFOpDQW HW GLVSHUVpHV DX VHLQ G¶XQ YHUUH GH FH V\VWqPH 7/1 &H PDWpULDX FRPSRVLWHHVWHQVXLWHGpYLWULILpGHPDQLqUHFODVVLTXH. -. XQHVHFRQGHYRLHFRUUHVSRQGDQWjODGLVSHUVLRQGHFULVWDX[QDQRPpWULTXHVG¶XQ PDWpULDXIHUURpOHFWULTXHVDQVSORPE /L1E2RX1D%L7L2

(28) DXVHLQG¶XQH PDWULFHYLWUHXVHGXV\VWqPH7/1. (QILQOHGHUQLHUFKDSLWUHSRUWHVXUO¶pODERUDWLRQGHYLWURFpUDPLTXHVHWGHFpUDPLTXHV WUDQVSDUHQWHVjSDUWLUGHYHUUHVGXV\VWqPH7H2%L21E2RXQHFULVWDOOLVDWLRQ $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(29) HQ YROXPH HVW QDWXUHOOHPHQW UHQFRQWUpH 'DQV FH FDV OD SKDVH UHFKHUFKpH HVW OD SKDVHFXELTXH1E%L7H2/HEXWHVWGHFRQVHUYHUXQHIRUWHWUDQVSDUHQFHRSWLTXH JUkFHjODFULVWDOOLVDWLRQFRQJUXHQWHGXYHUUHGHPrPHFRPSRVLWLRQFKLPLTXH SDVGH ELUpIULQJHQFHQLGHSRURVLWp

(30) &HFLSHUPHWG¶HQYLVDJHUODIDEULFDWLRQIXWXUHG¶XQHFDYLWp ODVHUFpUDPLTXHjIDLEOHFR€WJUkFHjXQHPpWKRGHYHUULqUHVLPSOHG¶pODERUDWLRQHWGH PLVHHQIRUPH. . . $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(31) . $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(32) &KDSLWUH,eWDWGHO¶DUWYHUUHVHWYLWURFpUDPLTXHV SURSULpWpVRSWLTXHV 'DQVFHWWHSDUWLHQRXVDERUGHURQVOHVQRWLRQVGHYHUUHHWGHYLWURFpUDPLTXH1RXV GpILQLURQV DLQVL OHV SKpQRPqQHV SK\VLFRFKLPLTXHV UpJLVVDQW OD QXFOpDWLRQ HW OD FURLVVDQFH GHV FULVWDOOLWHV TXL SUpFLSLWHQW DX VHLQ G¶XQH PDWULFH YLWUHXVH HW SUpVHQWHURQV OHV GLIIpUHQWHV YRLHV OLpHV j OD IDEULFDWLRQ G¶XQH YLWURFpUDPLTXH eWDQW SDUWLFXOLqUHPHQWLQWpUHVVpVSDUOHVSURSULpWpVRSWLTXHVGHFHVPDWpULDX[HWQRWDPPHQW SDU OHV SURSULpWpV GH JpQpUDWLRQ GH VHFRQGH KDUPRQLTXH 6+*

(33)  QRXV UDSSHOOHURQV pJDOHPHQW OHV SULQFLSHV GH O¶RSWLTXH QRQ OLQpDLUH HW IRXUQLURQV XQ pWDW GH O¶DUW GHV YLWURFpUDPLTXHVSRXUOD6+*'HPrPHQRXVGpFULURQVOHVJUDQGVSULQFLSHVDVVRFLpV j OD OXPLQHVFHQFH GHV LRQV GH WHUUHV UDUHV HW IRXUQLURQV DXVVL O¶pWDW GH O¶DUW FRUUHVSRQGDQW (QILQ QRXV HIIHFWXHURQV GH EUHIV UDSSHOV VXU OHV FDUDFWpULVWLTXHV VWUXFWXUDOHVGHVFRPSRVpV©UpIpUHQFHVªjEDVHG¶R[\GHGHWHOOXUH. ,9HUUHVHWYLWURFpUDPLTXHV $YDQWG¶DERUGHUOHFRQFHSWGHYLWURFpUDPLTXHLOHVWLQGLVSHQVDEOHG¶LQWURGXLUHODQRWLRQ IRQGDPHQWDOHGHYHUUHRXPDWpULDXYLWUHX[(QHIIHWSRXUFRPSUHQGUHOHVPpFDQLVPHV HQWUDQW HQ MHX ORUV GH OD FULVWDOOLVDWLRQ G¶XQ YHUUH LO HVW HVVHQWLHOGHFRQQDvWUHVDVWUXFWXUHDLQVLTXHVHVSURSULpWpV WKHUPLTXHV  ,/HYHUUHHWVHVSURSULpWpV ,3URSULpWpVVWUXFWXUDOHVHWWKHUPLTXHV '¶XQ SRLQW GH YXH VWUXFWXUDO OH YHUUH HVW XQ VROLGH QRQ FULVWDOOLQ TXL QH SRVVqGH SDV G¶RUGUH j ORQJXH GLVWDQFH !    QP

(34)  ¬ OD GLIIpUHQFH GX FULVWDO TXL SRVVqGH XQ DUUDQJHPHQW VWUXFWXUDO SpULRGLTXH HW WULGLPHQVLRQQHO j. )LJXUH,5HSUpVHQWDWLRQ. ORQJXH GLVWDQFH VHXO XQ RUGUH j FRXUWH HW PR\HQQH VFKpPDWLTXHG¶XQUpVHDXYLWUHX[ GLVWDQFHV c

(35) HVWPDLQWHQXGDQVVDVWUXFWXUH )LJXUH. SDU=DFKDULDVHQ>@. ,

(36)  &HWWH K\SRWKqVH D pWp LQLWLp GDQV OHV DQQpHV  SDU =DFKDULDVHQ >@ HQ VH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(37) EDVDQW VXU OD YLVLRQ GH OD FULVWDOORJUDSKLH pWDEOLH SDU *ROGVFKPLGW WUDYDX[ VXU OH UDSSRUW GHV UD\RQV LRQLTXHV >@

(38)  SXLV D UDSLGHPHQW pWp UHQIRUFpH SDU OHV FDUDFWpULVDWLRQV IDLWHV SDU :DUUHQ SDU GLIIUDFWLRQ GHV UD\RQV ; VXU GHV V\VWqPHV VLPSOHVWHOVTXHODVLOLFHG¶ROHGpYHORSSHPHQWGHODWKpRULHGLWHGH=DFKDULDVHQ :DUUHQ RX &RQWLQXRXV5DQGRP 1HWZRUN &HOOHFL SUpGLW OD SRVVLELOLWp GH IRUPHU XQ YHUUHG¶R[\GH$[2\VHORQOHVUqJOHVVXLYDQWHV. -. OHFRPSRVpGRLWSRXYRLUDLVpPHQWIRUPHUGHVJURXSHPHQWVSRO\pGULTXHVHQWDQW. TX¶XQLWpVWUXFWXUDOH. -. DXFXQR[\JqQHQHGRLWrWUHOLpjSOXVGHFDWLRQV$HWGRQFLOSHXW\DYRLUGHV. DWRPHVG¶R[\JqQHSRQWDQWVHWQRQSRQWDQWV ODFRQFHQWUDWLRQGHFHVGHUQLHUVGRLWrWUH OLPLWpH

(39) . -. OHQRPEUHGHVRPPHWVG¶XQSRO\qGUHGRLWrWUH W\SLTXHPHQW

(40) . -. DX PRLQV  VRPPHWV VXU  G¶XQ SRO\qGUH GRLYHQW rWUH FRQQHFWpV DYHF XQ. SRO\qGUHYRLVLQ 7RXWHIRLVFHPRGqOHDUDSLGHPHQWWURXYpVHVOLPLWHVIDFHjGHVV\VWqPHVYLWUHX[SOXV FRPSOH[HVSUpVHQWDQWGHVFRRUGLQHQFHVSOXVpOHYpHV FRRUGLQHQFHGDQVOHVYHUUHV GH WLWDQDWH SDU H[HPSOH >@

(41)  3DU DLOOHXUV O¶XWLOLVDWLRQ GH WHFKQLTXHV G¶XOWUDWUHPSH FRQGXLVDQWjODV\QWKqVHGHYHUUHVPpWDOOLTXHVRXHQFRUHOHVV\QWKqVHVGHYHUUHSDU YRLHVROJHOFRQVWLWXHQWG¶DXWUHV OLPLWDWLRQVGHFHPRGqOH &ODVVLTXHPHQW OH YHUUH HVW XQ VROLGH REWHQX SDU WUHPSH G¶XQ OLTXLGHVXUIRQGX&HODFRQVLVWHj UHIURLGLUXQOLTXLGHVXIILVDPPHQW UDSLGHPHQW. SRXU. TXH. OD. FULVWDOOLVDWLRQ Q¶DLW SDV OH WHPSV GH VH SURGXLUH )LJXUH ,

(42)  $XWUHPHQW GLW O¶DFFURLVVHPHQW. )LJXUH,9DULDWLRQWKHUPLTXHGXYROXPHVSpFLILTXH RXGH. FRQWLQXGHODYLVFRVLWpORUVTXHOD. O¶HQWKDOSLH

(43) ORUVGXSDVVDJHGHO¶pWDWOLTXLGHjO¶pWDWVROLGH. WHPSpUDWXUH GLPLQXH D SRXU UpVXOWDW XQ ILJHDJH GX OLTXLGH VXUIRQGX GH IDoRQ SHUPDQHQWH HPSrFKDQW XQH TXHOFRQTXH UpRUJDQLVDWLRQ GHV DWRPHV /H YHUUH SHXW $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(44) DORUVrWUHFRQVLGpUpFRPPHXQ©OLTXLGHILJpªHWFRQVWLWXHGRQFXQpWDWPpWDVWDEOHGH ODPDWLqUH'HQRPEUHXVHVpWXGHVRQWpWpPHQpHVVXUO¶DVSHFWWKHUPRG\QDPLTXHPHQW PpWDVWDEOH GX YHUUH HW VD FLQpWLTXH GH FULVWDOOLVDWLRQ SHUPHWWDQW DLQVL GH PLHX[ DSSUpKHQGHUOHVFRQGLWLRQVGHIRUPDWLRQG¶XQPDWpULDXYLWUHX[&HSHQGDQWWRXWHVOHV WKpRULHVGpYHORSSpHVQ¶RQWWRXMRXUVSDVSHUPLVO¶XQLIRUPLVDWLRQG¶XQPRGqOHSRXYDQW SUpGLUH OD VWUXFWXUH G¶XQ YHUUH  PDOJUp OHV SURJUqV UpDOLVpV VXU GHV WHFKQLTXHV GH FDUDFWpULVDWLRQ j FRXUWHV GLVWDQFHV WHOOHV TXH OD GLIIXVLRQ GH UD\RQQHPHQWV ; HW QHXWURQVODGLIIXVLRQ5DPDQRXHQFRUHOD5pVRQDQFH0DJQpWLTXH1XFOpDLUH 501

(45)  3DUPL OHV WHPSpUDWXUHV FDUDFWpULVWLTXHV G¶XQ YHUUH RQ GLVWLQJXH OD WHPSpUDWXUH GH WUDQVLWLRQYLWUHXVH 7J

(46) ODWHPSpUDWXUHGHSUHPLqUHFULVWDOOLVDWLRQ 7F

(47) HWODWHPSpUDWXUH GHIXVLRQ 7I

(48) &HVSURSULpWpVWKHUPLTXHVSHXYHQWGpSHQGUHGHODYLWHVVHGHWUHPSH $LQVLODWUDQVLWLRQYLWUHXVHHVWXQSKpQRPqQHSURSUHjXQV\VWqPHFKLPLTXHGRQQp PDLVHVWpJDOHPHQWGpSHQGDQWHGHO¶KLVWRLUHWKHUPLTXHGXYHUUHRQSDUOHUDG¶DLOOHXUV SOXW{W G¶LQWHUYDOOH GH WUDQVLWLRQ RX GH WUDQVIRUPDWLRQ GpQRWDQW OH FDUDFWqUH DXVVL FLQpWLTXHGHODWUDQVLWLRQYLWUHXVH(QGHVVRXVGHFHWWHWHPSpUDWXUHRQREVHUYHXQJHO GHVDWRPHVGDQVXQHFRQILJXUDWLRQGRQQpH,OHVWDXVVLDGPLVTXHFHWWHWHPSpUDWXUH HVWFDUDFWpULVpHSDUOHPRPHQWRO¶RQDWWHLQWXQHYLVFRVLWpGH SRLVHVVRLW 3DV3DUDLOOHXUVXQYHUUHHVWXQPDWpULDXLVRWURSHSXLVTXHDXFXQHGLUHFWLRQGDQVOD VWUXFWXUH Q¶HVW SULYLOpJLpH /HV HQWLWpV IRUPDQW OH UpVHDX YLWUHX[ VRQW HIIHFWLYHPHQW UpSDUWLHVGHIDoRQDOpDWRLUHF¶HVWGRQFXQPDWpULDXPDFURVFRSLTXHPHQWKRPRJqQH '¶XQ SRLQWGH YXH PpFDQLTXH OH YHUUH HVWXQ PDWpULDXIUDJLOH ,O URPSWEUXWDOHPHQW GDQV VD ]RQH GH GpIRUPDWLRQ pODVWLTXH FDU LO QH SRVVqGH DXFXQH SODVWLFLWp j WHPSpUDWXUHDPELDQWH1pDQPRLQVSRXUGHVWHPSpUDWXUHVYRLVLQHVGHODWHPSpUDWXUH GH WUDQVLWLRQ YLWUHXVH OH FRPSRUWHPHQW GX PDWpULDX HVW YLVFRpODVWLTXH 3DU FRQVpTXHQWODYLVFRVLWpHVWODSURSULpWpODSOXVLPSRUWDQWHSRXUODPLVHHQIRUPHGHV YHUUHV (OOH pYROXH DLQVL GH PDQLqUH FRQWLQXH GHSXLV OH OLTXLGH VWDEOH j KDXWH WHPSpUDWXUHMXVTX¶DXYHUUHjWHPSpUDWXUHDPELDQWHRFHOOHFLHVWVXSpULHXUHj 3DV'DQVOHPLOLHXLQGXVWULHOOHYHUUHHVWJpQpUDOHPHQWWUDYDLOOpjXQHWHPSpUDWXUH RODYLVFRVLWpHVWGHO¶RUGUHGH3DV. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(49) ,3URSULpWpVRSWLTXHV /D SURSULpWp RSWLTXH OD SOXV FRQQXH HVW O¶LQGLFH GH UpIUDFWLRQ DLQVL TXH WRXWHV OHV SURSULpWpVGHWUDQVPLVVLRQHWUpIOH[LRQTXLHQGpFRXOHQW6LO¶RQ\DMRXWHO¶DEVRUSWLRQHW ODGLIIXVLRQGHODOXPLqUHRQDXQHGHVFULSWLRQDVVH]FRPSOqWHGHO¶LQWHUDFWLRQHQWUHOH YHUUHHWODOXPLqUH GDQVOHFDGUHGHO¶RSWLTXHOLQpDLUH

(50) $LQVLF¶HVWODJDPPHVSHFWUDOH GH WUDQVSDUHQFH G¶XQ YHUUH OLpH DX JDS RSWLTXH HW j O¶DEVRUSWLRQ PXOWLSKRQRQV IRUWHPHQW GpSHQGDQWV GH OD FRPSRVLWLRQ FKLPLTXH GX YHUUH

(51)  TXL UpJLW VRQ FKDPS G¶DSSOLFDWLRQV/DWUDQVPLWWDQFHRSWLTXHG¶XQYHUUHHVWGpSHQGDQWHGHO¶pSDLVVHXUGX PDWpULDXGHVRQLQGLFHGHUpIUDFWLRQHWGXFRHIILFLHQWG¶DEVRUSWLRQ&HWWHWUDQVPLWWDQFH SHXWDLQVLrWUHPRGpOLVpHJUkFHDX[pTXDWLRQVGH)UHVQHO . ܶ ൌ. ʹ݊ ݁ ିఈ೟ௗ  ݊ଶ ൅ ͳ. ,

(52) . DYHF Q O¶LQGLFH GH UpIUDFWLRQ OLQpDLUH GX YHUUH G O¶pSDLVVHXU HW αt OH FRHIILFLHQW G¶DEVRUSWLRQUHQGDQWFRPSWHGHWRXVOHVSKpQRPqQHVG¶DEVRUSWLRQOLpVDX[GpIDXWVGX YHUUHWHOVTXHGHVSRUHVGHVLPSXUHWpVHWF D

(53) *DSRSWLTXHRXEDQGJDS /DFKXWHGHWUDQVPLVVLRQG¶XQYHUUHDX[EDVVHVORQJXHXUVG¶RQGHVDOLHXGXIDLWGHV WUDQVLWLRQV pOHFWURQLTXHV GH FHUWDLQV pOpPHQWV FRPSRVDQW OH YHUUH  OHV pOHFWURQV SHXSODQWOHVEDQGHVGHYDOHQFHDEVRUEHQWOHVSKRWRQVGHORQJXHXUVG RQGHWHOOHTXH OHXUpQHUJLH ‫ ܧ‬ൌ ݄Q ൌ ݄ܿȀO. . ,

(54) . KODFRQVWDQWHGH3ODQNQ QODIUpTXHQFHGXSKRWRQFODYLWHVVHGHODOXPLqUHGDQV OHYLGHHWOODORQJXHXUG¶RQGHGXSKRWRQ

(55)  FRUUHVSRQGHjO¶pQHUJLHGHJDS RXXQHpQHUJLHVXSpULHXUH

(56) &HSKpQRPqQHHVWGpFULW SDUODWKpRULHGHVEDQGHV>@$LQVLSRXUDWWHLQGUHODEDQGHGHFRQGXFWLRQO¶DEVRUSWLRQ GHSKRWRQVG¶pQHUJLHPLQLPDOHGLWHGHJDSRSWLTXHSHUPHWOHSDVVDJHGHVpOHFWURQV GHODEDQGHGHYDOHQFHYHUVODEDQGHGHFRQGXFWLRQ &HWWHpQHUJLHGHJDSHVWGpSHQGDQWHGHODIRUFHGHVOLDLVRQVDWRPLTXHVGDQVOHYHUUH $LQVLODWUDQVPLVVLRQRSWLTXHG¶XQYHUUHFKXWHSOXVRXPRLQVW{WVXLYDQWVDFRPSRVLWLRQ $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(57) FKLPLTXH'HFHIDLWODSUpVHQFHGHPpWDX[ORXUGVFRPPHOHWHOOXUHGDQVXQYHUUHD WHQGDQFHjUpGXLUHO pQHUJLHGHJDSHWGRQFUpGXLUHODIHQrWUHGHWUDQVPLVVLRQRSWLTXH GXYHUUHDX[EDVVHVORQJXHXUVG¶RQGHV7\SLTXHPHQWODVLOLFHD\DQWXQHIRUWHpQHUJLH GHJDS aH9

(58) WUDQVPHWMXVTXHGDQVO¶89WDQGLVTXHOHVYHUUHVGHFKDOFRJpQXUHV DEVRUEHQWGDQVWRXWOHYLVLEOH / DWWHQWLRQSRUWpHjODPDWLqUHGHVFUHXVHWVHWGHVIRXUVHVWGqVORUVWUqVLPSRUWDQWH FDUFHVPDWpULDX[SHXYHQWDXVVLDYRLUXQHLQIOXHQFHVXUODIHQrWUHGHWUDQVPLVVLRQ>@ 3DUH[HPSOHOHSODWLQHHVWXQpOpPHQWWUqVXWLOLVpSRXUODIRQWHGXYHUUHPDLVSURYRTXH GHV LQFOXVLRQV GH QDQRSDUWLFXOHV GH SODWLQH GDQV OH YHUUH GX IDLW GH VD GLIIXVLRQ LPSRUWDQWH DX[ WHPSpUDWXUHV GH IXVLRQ GHV YHUUHV FH TXL FRQGXLW j UpGXLUH OH JDS RSWLTXHHWJpQqUHXQHDEVRUSWLRQGXYHUUHGDQVOHYLVLEOH E

(59) $EVRUSWLRQPXOWLSKRQRQV /D OLPLWH GH WUDQVPLVVLRQ RSWLTXH DX[ JUDQGHV ORQJXHXUV G¶RQGHV HVW G€H DX[ YLEUDWLRQV GHV OLDLVRQV FKLPLTXHV (Q HIIHW ORUVTX XQH PROpFXOH UHoRLW XQH TXDQWLWp G pQHUJLHGRQQpHHOOHVHPHWjYLEUHUVHORQGLIIpUHQWVPRGHVIRQGDPHQWDOSUHPLqUH KDUPRQLTXH GHX[LqPH KDUPRQLTXH HWF FRUUHVSRQGDQWV j GHV PRXYHPHQWV SpULRGLTXHV GHV DWRPHV GH OD PROpFXOH &KDTXH IUpTXHQFH DVVRFLpH j O pQHUJLH GX PRGHGHYLEUDWLRQGHODPROpFXOHHVWDORUVDEVRUEpH/DORQJXHXUG¶RQGHG¶DEVRUSWLRQ G¶XQHOLDLVRQVHGpILQLWDORUVSDU Ɋ ݇. O ൌ ʹߨܿට . . ,

(60) . DYHFFODYLWHVVHGHODOXPLqUHGDQVOHYLGH—ODPDVVHUpGXLWHGHVYLEUDWHXUVHWN ODFRQVWDQWHGHIRUFHGHODOLDLVRQ 'DQVXQYHUUHGHVLOLFHODOLDLVRQ6L2SRVVqGHGHX[PRGHVGHYLEUDWLRQSULQFLSDX[ OHV PRGHV GH URWDWLRQ HW G pORQJDWLRQ &RPPH OD IUpTXHQFH GH O pORQJDWLRQ HVW GH î+]O DEVRUSWLRQDXUDOLHXj—P IRQGDPHQWDOH

(61) —P KDUPRQLTXH

(62)  —P KDUPRQLTXH

(63) HWF/ DEVRUSWLRQGXHjFHWWHYLEUDWLRQpWDQWWUqVIRUWHODVLOLFH GHYLHQW RSDTXHGqV OD SUHPLqUH KDUPRQLTXH & HVWSRXUUpGXLUH OHVIUpTXHQFHV GHV YLEUDWLRQV PROpFXODLUHV TXH O RQ XWLOLVH GHV YHUUHV GH FKDOFRJpQXUHV SRXU GHV DSSOLFDWLRQVGDQVOHORLQWDLQLQIUDURXJH RO¶R[\JqQHHVWUHPSODFpSDUGXVRXIIUHGX $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(64) VpOpQLXPRXGXWHOOXUH

(65) /HXUVpQHUJLHVGHSKRQRQpWDQWSOXVEDVVHVODWUDQVPLVVLRQ RSWLTXHGHVYHUUHVHVWDORUVpWHQGXHGDQVOHGRPDLQHGHO LQIUDURXJH&HSHQGDQWOHV FKDOFRJpQXUHV j EDVH GH VpOpQLXP RX GH WHOOXUH VRQW RSDTXHVGDQV OH YLVLEOH G¶R O¶LQWpUrWGHVYHUUHVWHOOXULWHVTXLFRPELQHQWODERQQHWUDQVPLVVLRQRSWLTXHGHVYHUUHV G¶R[\GHVGDQVOHYLVLEOHDLQVLTXHODERQQHWUDQVPLVVVLRQRSWLTXHGHVFKDOFRJpQXUHV GDQV O¶LQIUDURXJH  LOV SHXYHQW rWUH WUDQVSDUHQWV MXVTX¶j  —P HQ IRQFWLRQ GH OD FRPSRVLWLRQ FKLPLTXH

(66)  >@ 8QH DXWUH VROXWLRQ FRQVLVWH j pODERUHU GHV YHUUHV G KDORJpQXUHVQRWDPPHQWGHIOXRUXUHV/HIOXRUpWDQWWUqVpOHFWURQpJDWLIOHVOLDLVRQV HQWUH DQLRQV HW FDWLRQV RQW DORUV XQ FDUDFWqUH SOXV LRQLTXH HW HOOHV VRQW GRQF SOXV IDLEOHVTXHOHVOLDLVRQVR[\JqQHFDWLRQTXLRQWXQFDUDFWqUHSOXVLRQRFRYDOHQWFHFL FRQGXLWGRQFjGHVpQHUJLHVGHSKRQRQSOXVEDVVHV $XVVLO KXPLGLWpGXYHUUHF¶HVWjGLUHODSUpVHQFHG HDXGDQVOHPDWpULDXLQIOXHQFH IRUWHPHQWODFRXUEHGHWUDQVPLVVLRQGHVYHUUHVGDQVOHVUpJLRQVGH—Pj—P / HDXSUHQGODIRUPHGHJURXSHPHQWV2+GRQWODOLDLVRQ2+YLEUHjXQHIUpTXHQFH DYRLVLQDQWOHV—P'DQVOHVYHUUHVG¶R[\GHVRQGpQRWHWURLVW\SHVG¶2+OHV2+ OLEUHVDGVRUEpVHQVXUIDFH EDQGHODUJHaFP 

(67) OHV2+OLpVDXVHLQGXUpVHDX YLWUHX[ EDQGHILQHaFP

(68) HWOHV2+IRUWHPHQWOLpV aFP

(69) >@ ,eODERUDWLRQGHVYLWURFpUDPLTXHV (Q WHFKQRORJLH YHUULqUH OD FULVWDOOLVDWLRQ HVW PLQXWLHXVHPHQW pYLWpH HW O¶pWXGH GH OD YLWULILFDWLRQ VH UDPqQH GRQF j FHOOH GH OD QRQFULVWDOOLVDWLRQ,O H[LVWH pJDOHPHQWXQH FODVVH GH PDWpULDX[ LQWHUPpGLDLUHV HQWUH OH YHUUH HW OH FULVWDO HW FHV VROLGHV SRO\FULVWDOOLQVSRUWHQWOHQRPGHYLWURFpUDPLTXHV ,9RLHFRQYHQWLRQQHOOH &ODVVLTXHPHQW XQH YLWURFpUDPLTXH HVW REWHQXH j SDUWLU G¶XQ YHUUH PDVVLI GRQW OD FULVWDOOLVDWLRQDpWpFRQWU{OpHSDUGHVWUDLWHPHQWVWKHUPLTXHVDSSURSULpV/DPDvWULVH GH FHWWH FULVWDOOLVDWLRQ QpFHVVLWH O¶pWXGH SUpDODEOH GX YHUUH DXWUHPHQW GLW XQH FRQQDLVVDQFHGHVWDX[GHQXFOpDWLRQ,HWGHFURLVVDQFH8GRQWODYDULDWLRQHQIRQFWLRQ GHODWHPSpUDWXUHHVWLOOXVWUpHVXUOD )LJXUH,D(QWUHOHVWHPSpUDWXUHV7HW7RQ IRUPHGHVJHUPHVPDLVFHVGHUQLHUVQHSHXYHQWFURvWUH(QWUH7 HW7IDXFXQJHUPH QHSHXWVHIRUPHUHWGRQFODFULVWDOOLVDWLRQHVWLQH[LVWDQWH(QWUH7 HW7RQSHXWIRUPHU GHVJHUPHVFULVWDOOLQVTXLSHXYHQWFURvWUH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(70) $LQVL OD FRQQDLVVDQFH GH FHV FRXUEHV , HW 8 HW VXUWRXW OD PDQLqUH GRQW HOOHV VH UHFRXYUHQW SHUPHWWUD GH ELHQ YLVXDOLVHU OHV GHX[ pWDSHV GH WUDLWHPHQWV WKHUPLTXHV VXFFHVVLIV JpQpUDOHPHQW XWLOLVpHV ORUV GH OD IDEULFDWLRQ GH YLWURFpUDPLTXHV  XQH SUHPLqUH SKDVH GH QXFOpDWLRQ j XQH WHPSpUDWXUH OpJqUHPHQW VXSpULHXUH j 7J FRUUHVSRQGDQW DX PD[LPXP GH QXFOpDWLRQ 1PD[ VXLYLH SDU XQH pWDSH j SOXV KDXWH WHPSpUDWXUHSRXUIDLUHFURvWUHOHVFULVWDX[jODWDLOOHVRXKDLWpH )LJXUH,E

(71) . )LJXUH,9DULDWLRQGHVWDX[GHQXFOpDWLRQ,HWGHFURLVVDQFH8HQIRQFWLRQGHODWHPSpUDWXUH D

(72)  HWF\FOHFODVVLTXHGHYLWURFpUDPLVDWLRQHQGHX[pWDSHV E

(73) . ,9RLHVQRQFRQYHQWLRQQHOOHV /D SOXSDUW GHV V\VWqPHV YLWUHX[ WHOOXULWHV VH FDUDFWpULVDQW SDU XQH QXFOpDWLRQ KpWpURJqQHPHQDQWjXQHFULVWDOOLVDWLRQGHVXUIDFHGHQRXYHOOHVWHFKQLTXHVRQWYXOH MRXUDILQG¶pODERUHUGHVYLWURFpUDPLTXHV2QGLVWLQJXHGHX[JUDQGHVYRLHVODFUpDWLRQ GHGpIDXWVDXVHLQGXYHUUHFRQGXLVDQWjXQHQXFOpDWLRQKpWpURJqQHPDLVGHYROXPH HWODYRLHFRPSRVLWHFRQVLVWDQWjGLVSHUVHUGHVFULVWDX[GDQVOHYROXPHGHODPDWULFH YLWUHXVH D

(74) 9RLHFRPSRVLWH &HWWH YRLH HVW WRXW SDUWLFXOLqUHPHQW LQWpUHVVDQWH FDUHQ SOXV GH SRXYRLU FRQWU{OHU OD WDLOOHHWODIRUPHGHVFULVWDX[GLVSHUVpVHOOHRIIUHXQHJUDQGHYDULpWpGHFRPSRVLWLRQV HWGHSURSULpWpVSHUPHWWDQWG¶REWHQLUGHQRXYHDX[PDWpULDX[PXOWLIRQFWLRQQHOV'DQV ODOLWWpUDWXUHQRXVWURXYRQVGHQRPEUHX[WUDYDX[DGRSWDQWFHWWHPpWKRGHQRWDPPHQW GDQVOHVYHUUHVWHOOXULWHVGXIDLWGHFHVRXFLGHFULVWDOOLVDWLRQVXUIDFLTXH1RXVSRXYRQV FLWHU SDU H[HPSOH OHV WUDYDX[ UpDOLVpV VXU OD GLVSHUVLRQ GH <$*  1G SRXU GHV DSSOLFDWLRQVODVHU>@RXGH/L1E2SRXUGHODJpQpUDWLRQGHVHFRQGHKDUPRQLTXH>@ $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(75) (QJpQpUDOODWHFKQLTXHGHGLVSHUVLRQXWLOLVpHHVWODIXVLRQG¶XQPpODQJHGHSRXGUHV GHYHUUHHWGHFULVWDX[1pDQPRLQVFHWWHDSSURFKHFRQGXLWVRXYHQWFRPPHGDQVOHV FDV pYRTXpV SUpFpGHPPHQW j XQH FKXWH QRWDEOH GH OD WUDQVSDUHQFH RSWLTXH SDU UDSSRUWDXYHUUHGHEDVHFDUHOOHFRPSRUWHXQHPXOWLWXGHG¶LQFRQYpQLHQWV(QHIIHWOD SKDVH GLVSHUVpH GRLW DYRLU XQH WHPSpUDWXUH GH IXVLRQ ELHQ VXSpULHXUH j FHOOH GH OD PDWULFH YLWUHXVH SRXU pYLWHU VD GpFRPSRVLWLRQ RX WRXWH UpDFWLYLWp FKLPLTXH HQWUH OH OLTXLGHHWOHVFULVWDX[SRXYDQWGpQDWXUHUOHVSURSULpWpVGHVFULVWDX[UHFKHUFKpHV'H PrPH HOOH GRLW DYRLU XQ LQGLFH GH UpIUDFWLRQ SURFKH GX YHUUH SRXU OLPLWHU OHV SKpQRPqQHV GH GLIIXVLRQ GH OD OXPLqUH DX[ LQWHUIDFHV YHUUHFULVWDO (QILQ GDQV FHV WUDYDX[LOHVWVRXYHQWREVHUYpXQHDJUpJDWLRQGHVFULVWDX[OLPLWDQWDORUVIRUWHPHQWOD WUDQVSDUHQFHGHODYLWURFpUDPLTXH E

(76) &UpDWLRQGHGpIDXWVH[WULQVqTXHVDMRXWG¶XQDJHQWQXFOpDQW /DIDEULFDWLRQGHYLWURFpUDPLTXHVSDUFUpDWLRQGHGpIDXWVH[WULQVqTXHVJUkFHjO¶DMRXW G¶pOpPHQWVMRXDQWOHU{OHGHFHQWUHVGHJHUPLQDWLRQ QDQRSDUWLFXOHVPpWDOOLTXHV=U2  7L2«

(77) HVWODWHFKQLTXHODSOXVFRQQXHHWODSOXVXVLWpHGHSDUVDVLPSOLFLWpHWVHV HIIHWVUHFRQQXVSRXUV¶DIIUDQFKLUGHVSUREOqPHVGHFULVWDOOLVDWLRQGHVXUIDFH> @(QHIIHWHOOHHVWEDVpHVXUOD UpGXFWLRQGXWUDYDLOGHQXFOpDWLRQDXWRXUGHFHV FHQWUHVGHQXFOpDWLRQKpWpURJqQHTXLSHXYHQWrWUHFRQVLGpUpVFRPPHGHVLPSXUHWpV IDYRULVDQWODFULVWDOOLVDWLRQGHYROXPHORUVGXWUDLWHPHQWWKHUPLTXHGXYHUUH$LQVLSRXU FRQVHUYHU XQH ERQQH WUDQVSDUHQFH RSWLTXH LO HVW SUpIpUDEOH G¶DYRLU XQH GLVSHUVLRQ KRPRJqQHGHFHVSDUWLFXOHVHWGHVWDLOOHVVXEPLFURQLTXHVSRXUOLPLWHUODGLIIXVLRQGH ODOXPLqUHSDUFHVHQWLWpV F

(78) &UpDWLRQGHGpIDXWVLQWULQVqTXHV %LHQ TXH FHV WHFKQLTXHV GHPHXUHQW HQFRUH PLQRULWDLUHV HOOHV Q¶HQ VRQW SDV PRLQV DWWUDFWLYHV /j HQFRUH FHV WHFKQLTXHV VRQW EDVpHV VXU OH PrPH SULQFLSH TXH SUpFpGHPPHQWjVDYRLUODFUpDWLRQGHGpIDXWVGDQVOHF°XUGXYHUUHSRXUIDYRULVHU XQHQXFOpDWLRQKpWpURJqQHPDLVGHYROXPH )ULWWDJHIODVK 636

(79)  $XFRXUVGHFHWWHWKqVHQRXVQRXVLQWpUHVVHURQVSDUWLFXOLqUHPHQWDXIULWWDJHIODVKGH SRXGUHVGHYHUUHSDU6SDUN3ODVPD6LQWHULQJ 636

(80) &HWWHWHFKQLTXHIXWQRWDPPHQW $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(81) XWLOLVpH SRXU OD IDEULFDWLRQ GH YHUUHV HW GH YLWURFpUDPLTXHV WUDQVSDUHQWV GH FKDOFRJpQXUHV>@$LQVLOHYHUUHVHWURXYDQWLQLWLDOHPHQWVRXVIRUPHSXOYpUXOHQWH YRLW VD TXDQWLWp GH VXUIDFH UpDFWLYH IRUWHPHQW DFFUXH /¶LQWpUrW GH FHWWH WHFKQLTXH UpVLGHGRQFGDQVOHIDLWTX¶RQSXLVVHFRQWU{OHUFHWWHIUDFWLRQGHVXUIDFHUpDFWLYHHWSDU FRQVpTXHQWOHWDX[GHQXFOpDWLRQHQDMXVWDQWODJUDQXORPpWULHGHODSRXGUH(QRXWUH SOXVOHVSDUWLFXOHVGHYHUUHVRQWILQHVSOXVOHWDX[GHQXFOpDWLRQGHYUDLWrWUHLPSRUWDQW 6LO¶RQSDUYLHQWpJDOHPHQWjPDvWULVHUODFURLVVDQFHGHVFULVWDOOLWHVLOHVWDORUVSRVVLEOH G¶DWWHLQGUH GHV IUDFWLRQV YROXPLTXHV FULVWDOOLVpHV LPSRUWDQWHV WRXW HQ JDUGDQW OD WUDQVSDUHQFHGXYHUUHGHEDVH1pDQPRLQVFHWWHWHFKQLTXHSUpVHQWHpJDOHPHQWGHV LQFRQYpQLHQWV WHOV TXH OD SROOXWLRQ SDU OH FDUERQH UpVXOWDQW GH O¶HQYLURQQHPHQW JUDSKLWLTXHGX636 PDWULFHSLVWRQVSDS\H[HWF

(82) TXLVHURQWH[SOLFLWpVSOXVHQGpWDLOV GDQVOHFKDSLWUHVXLYDQW ,UUDGLDWLRQODVHU 1RXV SUpYR\RQV GDQV XQ IXWXU SURFKH GH SURFpGHU j OD FULVWDOOLVDWLRQ. FRQWU{OpH. HW. ORFDOHG¶XQYHUUHSDUDEVRUSWLRQ G¶XQ. UD\RQQHPHQW. j. XQH. ORQJXHXU G¶RQGH VSpFLILTXH &¶HVWSRXUTXRLQRXVGpFULHURQV LFL EULqYHPHQW O¶pWDW GH O¶DUW FRQFHUQDQW. FHWWH. G¶pODERUDWLRQ. GH. YRLH. PDWpULDX[. )LJXUH,3URILOGHFULVWDOOLVDWLRQSDULUUDGLDWLRQODVHU>@. YLWURFpUDPLTXHV $LQVLLOH[LVWHpJDOHPHQWGHVPpWKRGHVRSWLTXHVDVVH]UpFHQWHVSRXUIDEULTXHUGHV YLWURFpUDPLTXHV WHOOHV TXH O¶LUUDGLDWLRQ ODVHU IHPWRVHFRQGH (Q HIIHW GX IDLW GH OD SRVVLELOLWp GH FRQWU{OHU O¶DSSRUW G pQHUJLH GDQV OH WHPSV HW GDQV O HVSDFH FHWWH WHFKQLTXH RIIUH GHV SRVVLELOLWpV H[FHSWLRQQHOOHV SRXU OD IDEULFDWLRQ GH QRXYHDX[ PDWpULDX[ SRXYDQW rWUH DUFKLWHFWXUpV HQ ' WRXW HQ FRQWU{ODQW OD WDLOOH OD IRUPH HW O RULHQWDWLRQGHVFULVWDX[GDQVOHVYHUUHV&HWWHH[WUDRUGLQDLUHSUpFLVLRQV¶H[SOLTXHSDU OHIDLWTXHOHVSXOVHVG¶pQHUJLHVRLHQWDEVRUEpVHQVHXOHPHQWTXHOTXHVSLFRVHFRQGHV 1RXV SRXYRQVH[SOLTXHUOHPpFDQLVPHGH FULVWDOOLVDWLRQSDUOHIDLWTX¶HQ LUUDGLDQW OH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(83) YHUUHHWFHDYHFXQHIUpTXHQFHWUqVpOHYpH •N+]

(84) GHODFKDOHXUV¶DFFXPXOHHW FUpHDLQVLXQIRUWpFKDXIIHPHQWORFDOHWGRQFXQODUJH JUDGLHQWWKHUPLTXH DXWRXUGH FHWWH ]RQH j O¶RULJLQH GH OD FURLVVDQFH FULVWDOOLQH )LJXUH ,

(85)  >@ 3DU OD VXLWH OD GLIIXVLRQWKHUPLTXHGXPLOLHXLQGXLWXQHPLJUDWLRQUDGLDOHGHVpOpPHQWVDPHQDQWjOD FUpDWLRQGHJUDGLHQWVFKLPLTXHVTXLGpWHUPLQHQWO¶RULHQWDWLRQGHVFULVWDOOLWHV (Q RXWUH FHV GHUQLqUHV DQQpHV OD SUpFLSLWDWLRQ GH QRPEUHX[ FULVWDX[ QRQ OLQpDLUHV WHOV TXH /L1E2 ȕ%D%2 %D7L6L2 D GpMj pWp REWHQXH DX VHLQ G¶XQH PDWULFH YLWUHXVH j O¶DLGH G¶XQ ODVHU IHPWRVHFRQGH >  @ 2Q SHXW pJDOHPHQWFLWHUOHVWUDYDX[GH.RPDWVXHW DO>@TXLJUkFHjFHWWHPrPHWHFKQLTXH. )LJXUH,&OLFKpGHPLFURVFRSLHRSWLTXH. PRQWUHQW OD SRVVLELOLWp GH IDLUH GHV SORWV. FULVWDOOLVDWLRQRULHQWpHGH/L1E2GDQVXQYHUUH. YRLUHGHV©ILOVªPRQRFULVWDOOLQVGH/L1E2. &X/L21E26L2SDULUUDGLDWLRQODVHU. DXVHLQG¶XQYHUUHGHVLOLFH )LJXUH,

(86) HQ. IHPWRVHFRQGH>@. DMXVWDQWOHVSDUDPqWUHVG¶LUUDGLDWLRQWHOVTXHODSRODULVDWLRQGXIDLVFHDXO¶pQHUJLHSDU SXOVHODIUpTXHQFHGHVSXOVHVHWODORQJXHXUG¶RQGHG¶LUUDGLDWLRQ &RPELQpHjXQDSSRUWGHFKDOHXUH[WHUQH6WRQHHWDO>@RQWTXDQWjHX[UpXVVLVj V\QWKpWLVHUjSDUWLUG¶XQYHUUHGH/D%*H2XQPRQRFULVWDOIHUURpOHFWULTXHDYHFXQH WUqVIRUWHRULHQWDWLRQSUpIpUHQWLHOOHVHORQO¶D[HF ,&RQGLWLRQVGHWUDQVSDUHQFHG¶XQHYLWURFpUDPLTXH &¶HVW DX FRXUV GHV DQQpHV  TX¶DSSDUDLVVHQW OHV SUHPLqUHV YLWURFpUDPLTXHV WUDQVSDUHQWUHV PDLV OHV WDLOOHV GHV FULVWDOOLWHV pWDQW GH O¶RUGUH G¶XQH GL]DLQH GH PLFURPqWUHVOHVUHFKHUFKHVSRXUOHVSURSULpWpVRSWLTXHVQHVRQWSDVSRXUVXLYLHV>@ (Q  .RPDWVX HW DO >@ SURSRVHQW SRXU OD SUHPLqUH IRLV O¶pODERUDWLRQ GH YLWURFpUDPLTXHV WUDQVSDUHQWHV FRQWHQDQW GHV FULVWDX[ IHUURpOHFWULTXHV HW RXYUHQW OD YRLHjGHQRPEUHXVHVDSSOLFDWLRQVSRXUO¶RSWLTXHQRQOLQpDLUH QRWDPPHQWOD6+*

(87)  'HSOXVORUVTXHODWDLOOHGHVFULVWDOOLWHVHVWFRQWU{OpHOHVYLWURFpUDPLTXHVpODERUpHV JDUGHQW GH ERQQHV TXDOLWpV GH WUDQVSDUHQFH &HSHQGDQW HQ SUDWLTXH FHWWH WUDQVSDUHQFHHVWWUqVGLIILFLOHjPDvWULVHUFRPSWHWHQXGHQRPEUHX[HIIHWVjO¶RULJLQH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(88) GHVSHUWHVSDUGLIIXVLRQ(QHIIHWODOXPLqUHHVWGLIIXVpHSDUWRXWHVOHVKpWpURJpQpLWpV SUpVHQWHVGDQVXQYHUUHjVDYRLUOHVFULVWDOOLWHVRXGpIDXWV EXOOHVLQFOXVLRQV«

(89) HWFH TXHOOHTXHVRLWOHXUWDLOOH/DGLIIXVLRQGH0LHV¶DSSOLTXHGDQVOHFDVRODWDLOOHGHV SDUWLFXOHVHVWSOXVJUDQGHTXHODORQJXHXUG¶RQGHLQFLGHQWH&HWWHWKpRULHFRPSOH[H HVW SHX XVLWpH GX IDLW TXH OHV YLWURFpUDPLTXHV WUDQVSDUHQWHV VRQW JpQpUDOHPHQW FRPSRVpHVGHFULVWDX[QDQRPpWULTXHV/DGLIIXVLRQGHW\SH5D\OHLJKHVWTXDQWjHOOH DSSOLFDEOHGDQVOHFDVGHFULVWDOOLWHVD\DQWGHVGLDPqWUHVDXPRLQVIRLVLQIpULHXUV DX[ORQJXHXUVG¶RQGHVLQFLGHQWHVHWHOOHHVWGpFULWHSDUODORL ሺͳ ൅ ܿ‫ߠʹݏ݋‬ሻ ͺߨ ସ ଺ ‫ ʹܯ‬െ ͳ ଶ ‫•—ˆˆ‹†ܫ‬±‡ ൌ   ସ ‫ ݎ‬൤ ʹ ൨ ‫ܫ‬ ‫ܮ‬ଶ ‫ ܯ‬൅ͳ Ͳ ߣ. . ,

(90) . DYHF , O¶LQWHQVLWp GX IDLVFHDX OXPLQHX[ LQFLGHQW Ȝ OD ORQJXHXU G¶RQGH 0 OH UDSSRUW QSDUWLFXOHVQPDWULFHUOHUD\RQGHVSDUWLFXOHV/ODGLVWDQFHHQWUHGHX[SDUWLFXOHVGLIIXVDQWHV HWșO¶DQJOHGHGLIIXVLRQ 3RXUFRQVHUYHUXQHERQQHWUDQVSDUHQFHGHX[VROXWLRQVVRQWGRQFSRVVLEOHV. -. 0 §  DXWUHPHQW GLW OD GLIIpUHQFH G¶LQGLFH GH UpIUDFWLRQ HQWUH OH YHUUH HW OHV FULVWDX[GRLWrWUHODSOXVIDLEOHSRVVLEOH. -. ௥ల ఒర.    VRLW GHV WDLOOHV GH FULVWDOOLWHV WUqV LQIpULHXUHV j OD ORQJXHXU G¶RQGH. LQFLGHQWH /HV YLWURFpUDPLTXHV GRLYHQW GRQF VDWLVIDLUH DX PRLQV XQ GH FHV GHX[ FULWqUHV SRXU JDUGHUXQHERQQHWUDQVSDUHQFH &HVPRGqOHV Q¶pWDQW YDODEOHV TXH SRXUGHV REMHWV VSKpULTXHVRQXWLOLVHSRXUGHVFDVSOXVFRPSOH[HV GHQGULWHVILOVHWF

(91) XQPRGqOHGH GLIIXVLRQGHW\SH5D\OHLJK*DQV'HE\H>@ ,3ULQFLSDOHVDSSOLFDWLRQVGHVYLWURFpUDPLTXHV eWDQW GRQQpH OD JUDQGH GLYHUVLWp GH SUpFXUVHXUVIRUPDWHXUV GH UpVHDX YLWUHX[ HW OD QDWXUH GHV SKDVHV FULVWDOOLQHV SRVVLEOHV XQH YDVWH JDPPH GH PDWpULDX[ SHXW rWUH IRUPpHHWOHVSURSULpWpVILQDOHVGpSHQGURQWHVVHQWLHOOHPHQWGHODSKDVHFULVWDOOLVpHFH TXL FRQIqUH DX PDWpULDX pODERUp GHV GRPDLQHV G¶DSSOLFDWLRQV WUqV YDULpV (Q UqJOH JpQpUDOH OD YLWURFpUDPLVDWLRQ DFFURLW OD UpVLVWDQFH PpFDQLTXH GX YHUUH GH EDVH HQ $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(92) OLPLWDQWODSURSDJDWLRQGXIURQWGHILVVXUHLOV¶DJLWOjG¶XQHDXJPHQWDWLRQGHODWpQDFLWp GXPDWpULDX WKpRULHGH*ULIILWK>@

(93)  $XVVLGHVYLWURFpUDPLTXHVELRFRPSDWLEOHVVRQWXWLOLVpHVSRXUGHVSURWKqVHVRXGHOD UHFRQVWUXFWLRQRVVHXVHGXIDLWGHOHXUVERQQHVWHQXHVPpFDQLTXHVGHOHXUSRURVLWp QXOOHHWVXUWRXWGHOHXUFRPSRVLWLRQFKLPLTXHSURFKHGHFHOOHGHO¶RV>@'HPrPH OHV YLWURFpUDPLTXHV SRVVqGHQW JpQpUDOHPHQW XQ FRHIILFLHQW GH GLODWDWLRQ WKHUPLTXH SOXV IDLEOH TXH FHOXL GHV YHUUHV FH TXL OHXU FRQIqUH GH ERQQHV SURSULpWpV WKHUPRPpFDQLTXHV QRWDPPHQW FHOOH GH UpVLVWDQFH DX FKRF WKHUPLTXH

(94)  HW H[SOLTXH OHXU XWLOLVDWLRQ GDQV OHV SODTXHV GH FXLVVRQ OHV SODWV HWF (QILQ FHV EpQpILFHV FRPELQpV DX[ SURSULpWpV GHV FULVWDX[ FODVVLTXHPHQW XWLOLVpV GDQV OH GRPDLQH GH OD SKRWRQLTXH D SHUPLV O¶HVVRU GHV YLWURFpUDPLTXHV GDQV GH QRPEUHXVHV DSSOLFDWLRQV RSWLTXHVWHOOHVTXHOHGRXEODJHGHIUpTXHQFHPDLVpJDOHPHQWO¶pODERUDWLRQGHODVHUVj KDXWVUHQGHPHQWV>@DYHFGHVFR€WVHWGHVWHPSVGHPLVHHQIRUPHELHQPRLQGUHV SDUUDSSRUWDX[PRQRFULVWDX[ ,/HVPpFDQLVPHVGHFULVWDOOLVDWLRQ 'DQV FHWWH SDUWLH QRXV DOORQV GpWDLOOHU OHV WKpRULHV PHQDQW j OD FULVWDOOLVDWLRQ G¶XQ YHUUH /H PpFDQLVPH TXL VHUD SULQFLSDOHPHQW GpYHORSSp GDQV FH FKDSLWUH HVW OD WUDQVIRUPDWLRQ GH SKDVH SDU SURFHVVXV GH QXFOpDWLRQFURLVVDQFH /¶DSSURFKH WKHUPRG\QDPLTXH HW FLQpWLTXH GH FH SURFHVVXV VHUD HVVHQWLHOOHPHQW EDVpH VXU OD 7KpRULH&ODVVLTXHGHOD1XFOpDWLRQ &17

(95) WHOOHTX¶HOOHHVWGpFULWHGDQVO¶RXYUDJH©'X YHUUH DX FULVWDO ª >@ /D WKpRULH .ROPRJRURY-RKQVRQ0HKO$YUDPL .-0$

(96)  VHUD DERUGpHSRXUGLVFXWHUGHVPHVXUHVH[SpULPHQWDOHVGHYLWHVVHGHFULVWDOOLVDWLRQGDQV OHV YHUUHV /HV SURFHVVXV GH GpPL[WLRQ XWLOLVpV JpQpUDOHPHQW GDQV OH FDV GH WUDQVIRUPDWLRQVOLTXLGHOLTXLGHVHURQWpJDOHPHQWGpFULWVSRXUDERUGHUODQRWLRQHQWUH DXWUHGHGpFRPSRVLWLRQVSLQRGDOHVHFRQGSURFHVVXVHQYLVDJHDEOHSRXUDWWHLQGUHOD FULVWDOOLVDWLRQ ,7KpRULH&ODVVLTXHGHOD1XFOpDWLRQ &17

(97)  /DFULVWDOOLVDWLRQKRPRJqQHG¶XQHSKDVHGpEXWHHWV¶pWHQGjSDUWLUGHFHQWUHVGLVFUHWV SUpVHQWVGDQVOHYROXPHGXYHUUH'HX[pWDSHVVRQWGLVWLQJXpHVODQXFOpDWLRQHWOD FURLVVDQFH 'DQV O¶pWDSH GH QXFOpDWLRQ RX JHUPLQDWLRQ GHV DPDV GH O¶RUGUH GH TXHOTXHV DWRPHV YRQW VH IRUPHU GX IDLW GH O¶DJLWDWLRQ WKHUPLTXH SHUPLVH SDU XQH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(98) KDXVVHGHODWHPSpUDWXUH'¶DSUqVOD&17LOHVWQpFHVVDLUHTXHFHVDPDVDWWHLJQHQW XQH FHUWDLQH WDLOOH FULWLTXH DYDQW GH SRXYRLU IRUPHU XQ JHUPH RX QXFOHXV SRLQW GH GpSDUW SRXU OH GpYHORSSHPHQW GH UpJLRQV RUGRQQpHV FRPPH OHV FULVWDX[ $LQVL RQ GLVWLQJXHODQXFOpDWLRQKRPRJqQHRLOH[LVWHXQHSUREDELOLWpLGHQWLTXHGHIRUPDWLRQ G¶XQ JHUPH GDQV WRXW OH YROXPH FHWWH IRUPDWLRQ VSRQWDQpH VXUYHQDQW ORUV GH IOXFWXDWLRQVGHGHQVLWpGHFRPSRVLWLRQRXG¶HQWURSLHWRXWHVDFWLYpHVWKHUPLTXHPHQW

(99)  HW OD QXFOpDWLRQ KpWpURJqQH TXL FRUUHVSRQG j O¶DSSDULWLRQ GH FULVWDX[ VXU GHV VLWHV SUpIpUHQWLHOV WHOV GHV GpIDXWV HQ VXUIDFH GHV LPSXUHWpV /D QXFOpDWLRQ KpWpURJqQH SHXWGRQFDPHQHUjXQHQXFOpDWLRQHQYROXPHRXHQVXUIDFH(QVXLWHO¶DPDVGHYHQX QXFOHXVYDSRXYRLUFURvWUHSDUDGGLWLRQGHVDWRPHVGHODSKDVHHQYLURQQDQWHMXVTX¶j O¶REWHQWLRQG¶XQHSDUWLFXOHSRVVpGDQWXQDUUDQJHPHQWSpULRGLTXHG¶DWRPHVjORQJXH GLVWDQFHRQSDUOHDORUVGHFURLVVDQFHFULVWDOOLQH D

(100) 1XFOpDWLRQKRPRJqQH $ILQGHSRXYRLUGpFULUHOHSKpQRPqQHGHQXFOpDWLRQQRXVGHYRQVQRXVSODFHUGDQV XQHJDPPHGHWHPSpUDWXUHROHPDWpULDXHVWYLVTXHX[RXGDQVXQpWDWGLWGHOLTXLGH VXUIRQGX )LJXUH ,

(101)  $LQVL GDQV FHV FRQGLWLRQV OHV PRELOLWpV DWRPLTXHV VRQW LPSRUWDQWHV HW OHV UpDUUDQJHPHQWV G¶DWRPHV VRQW FRQWLQXV /RUVTXH OD SKDVH HVW WKHUPRG\QDPLTXHPHQW VWDEOH FHV PRXYHPHQWV VRQW YLWH GLVVLSpV PDLV ORUVTXH OD SKDVHHVWPpWDVWDEOHDORUVFHVIOXFWXDWLRQVTX¶HOOHVVRLHQWGHWDLOOHGHIRUPHRXGH FRPSRVLWLRQ SHXYHQW GHYHQLU SHUPDQHQWHV FDU HOOHV SRVVqGHQW SRWHQWLHOOHPHQW OD IDFXOWpG¶LQGXLUHXQHSKDVHSOXVVWDEOH /D&17UHSRVHVXUGHX[K\SRWKqVHVOHVQXFOpLTXHOOHTXHVRLWOHXUWDLOOHRQWODPrPH VWUXFWXUH OD PrPH FRPSRVLWLRQ HW OD PrPH GHQVLWp TXH FHOOH GH OD IXWXUH SKDVH  G¶DXWUHSDUWOHJHUPHLQLWLDOHVWFRQVLGpUpFRPPHVSKpULTXH GHUD\RQU

(102) GHIDoRQj PLQLPLVHU O¶pQHUJLH GH VXUIDFH 3RXU XQ GHJUp GH VXUIXVLRQ ǻ7  7I ± 7 OH OLTXLGH UHIURLGLHVWGDQVXQpWDWPpWDVWDEOHSDUUDSSRUWDXFULVWDO$LQVLXQJHUPHVWDEOHYD SRXYRLUVHIRUPHUV¶LODWWHLQWXQHFHUWDLQHWDLOOHFULWLTXH&HWWHWUDQVIRUPDWLRQGHSKDVH V¶DFFRPSDJQHG¶XQHYDULDWLRQG¶pQHUJLHOLEUHǻ*TXLHVWVRXPLVHjWURLVSDUDPqWUHV WKHUPRG\QDPLTXHV. ƒ. 8Q DEDLVVHPHQW GH O¶pQHUJLH OLEUH YROXPLTXH ο  G€ j OD IRUPDWLRQ GX. FULVWDO SOXV VWDEOH &H WHUPH V¶H[SULPH SDU OD UHODWLRQ  $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . ସʌ ଷ. ” ଷ ο Y R ο Y .

(103) FRUUHVSRQGjODGLIIpUHQFHG¶pQHUJLHOLEUHHQWUHOHFULVWDOHWOHOLTXLGHVXUIRQGX GRQFο Y

(104) . ƒ. 8QH DXJPHQWDWLRQ GH O¶pQHUJLH GH VXUIDFH GXH j OD SUpVHQFH G¶XQH. LQWHUIDFHHQWUHOHVGHX[SKDVHVGXV\VWqPHͶʌ” ଶ ȖRȖFRUUHVSRQGjODWHQVLRQ GHVXUIDFHJHUPHOLTXLGHSDUXQLWpG¶DLUH. ƒ. 8QHDXJPHQWDWLRQ GHO¶pQHUJLH pODVWLTXH WRXWHIRLV QpJOLJHDEOH GDQV OH. FDVG¶XQHWUDQVIRUPDWLRQOLTXLGHVROLGH 2QGpILQLWDORUVOHWUDYDLO GHIRUPDWLRQG¶XQJHUPHFRUUHVSRQGDQWjO¶pQHUJLHOLEpUpH SDUODIRUPDWLRQG¶XQJHUPHGHUD\RQUSDUODUHODWLRQ ܹ ൌ Ͷʌ” ଶ Ȗ ൅ . . Ͷʌ ଷ ” ο Y ͵. ,

(105) . TXLWUDGXLWXQpTXLOLEUHHQWUHOHWHUPHVXUIDFLTXHTXLYDFRUUHVSRQGUHjXQHEDUULqUH WKHUPRG\QDPLTXHjIUDQFKLUHWOHWHUPHYROXPLTXHIDYRUDEOHjODQXFOpDWLRQ )LJXUH, 

(106)  /H UD\RQ FULWLTXH U  HW OH WUDYDLO FULWLTXH :  YDOHXUV PLQLPDOHV SRXU SRXYRLU REVHUYHUO¶DSSDULWLRQG¶XQJHUPHVWDEOHVRQWGpWHUPLQpVHQDQQXODQWODGpULYpHGH: SDUUDSSRUWjU1RXVREWHQRQVDLQVL ଵ଺஠ ஓయ. ଶஓ. U  െ οୋ୴HW:  . ଷ.  οୋమ  ౬. $LQVLSRXUUU OHWUDYDLOGHIRUPDWLRQG¶XQJHUPHHVWGRPLQpSDUO¶pQHUJLHGHVXUIDFH OH JHUPH Q¶HVW SDV VWDEOH HW VH UHGLVVRXW 3RXU U ! U  OH JHUPH HVW TXDOLILp GH VXSHUFULWLTXH HW SHXW FURvWUH FDU XQH DXJPHQWDWLRQ GH VRQ UD\RQ HQWUDvQH XQH GLPLQXWLRQGH:(QILQXQHYDOHXUpOHYpHGHȖLPSOLTXHXQHpQHUJLHGHIRUPDWLRQG¶XQ FULVWDOLPSRUWDQWHHWGRQFFDUDFWpULVWLTXHG¶XQYHUUHVWDEOH SOXVGLIILFLOHjFULVWDOOLVHU

(107)  WDQGLVTXHGHIDLEOHVYDOHXUVGHȖYRQWIDYRULVHUODQXFOpDWLRQ 6RLWο YO¶HQWKDOSLHGHFULVWDOOLVDWLRQO¶H[SUHVVLRQGHO¶HQWKDOSLHOLEUHGHFULVWDOOLVDWLRQ HVWGpILQLSDUODUHODWLRQ . ο Yൌ¨ Y. ο  ܶˆ. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . ,

(108) . .

(109) 6LRQLQWURGXLWFHWWHH[SUHVVLRQGDQV ,

(110) QRXVREVHUYRQVTXHOHWUDYDLOGHIRUPDWLRQ G¶XQJHUPHHVWGpSHQGDQWGXGHJUpGHVXUIXVLRQ&HODLPSOLTXHTXHSOXVOHGHJUpGH VXUIXVLRQHVWJUDQGSOXVOHWUDYDLOGHIRUPDWLRQG¶XQJHUPHHVWIDLEOH3DUFRQVpTXHQW WRXV OHV OLTXLGHV VXUIRQGXV GHYUDLHQW SUpVHQWHU XQH QXFOpDWLRQ G¶DXWDQW SOXV LPSRUWDQWH TXH OHV WHPSpUDWXUHV VRQW IDLEOHVSDUUDSSRUWj7I7RXWHIRLVFHWWH K\SRWKqVHHVWHQGpVDFFRUGDYHFFHTXL HVW REVHUYp H[SpULPHQWDOHPHQW FDU LO IDXW. DXVVL. WHQLU. FRPSWH. GH. OD. FRPSRVDQWHFLQpWLTXHGHODQXFOpDWLRQ /D YLWHVVH DYHF ODTXHOOH OH JHUPH VH IRUPHSDULQFRUSRUDWLRQSURJUHVVLYHGHV DWRPHV HQYLURQQDQWV UHQVHLJQH VXU OH IDFWHXUFLQpWLTXHGHFHWWHJpQpUDWLRQGH. )LJXUH,9DULDWLRQGXWUDYDLOGHIRUPDWLRQG¶XQ. JHUPHVORUVGXSURFHVVXVGHQXFOpDWLRQ. JHUPHHQIRQFWLRQGHODWDLOOHGHO¶HPEU\RQ. 'DQVOHFDVG¶XQPpODQJHLGpDOODUHODWLRQHQWUHOHQRPEUHG¶HPEU\RQ1 U GHUD\RQU  SDUXQLWpGHYROXPHHWOHQRPEUHWRWDOG¶HQWLWpVPROpFXODLUHV1SDUXQLWpGHYROXPHHVW ODVXLYDQWH ȗ ܰ‫ ݎ‬ൌ ܰ ݁‫ ݌ݔ‬ሺǦ ሻ . . ,

(111) . /DIRUPDWLRQG¶XQDPDVG¶DWRPHVHQXQJHUPHGHWDLOOHFULWLTXHU UpVXOWHG¶XQDSSRUW SDUGLIIXVLRQ/DYLWHVVHGHIRUPDWLRQGHFHVJHUPHVHVWDORUVGRQQpHSDUOHSURGXLW GXQRPEUHGHJHUPHVGHWDLOOHFULWLTXH1U SDUODYLWHVVHG¶DJJORPpUDWLRQGHVDWRPHV VXU OH JHUPH &HW DSSRUW G¶DWRPHV HVW FRQGLWLRQQp SDU OD WUDYHUVpH GH O¶LQWHUIDFH JHUPHPDWULFHFRQVLGpUpHFRPPHXQHEDUULqUHGHGLIIXVLRQ$LQVLODYLWHVVH, RXWDX[ GHQXFOpDWLRQ

(112) GHIRUPDWLRQGHJHUPHVGHWDLOOHFULWLTXHHVWGRQQpHSDU. . ‫ܫ‬ൌ‫ ݌ݔ݁ܭ‬൬െ. ο † ܹ‫כ‬ ൰ ൈ ܰ ‡š’ ൬െ ൰  . $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . ,

(113) . .

(114) Rο †HVWO¶pQHUJLHG¶DFWLYDWLRQQpFHVVDLUHjODWUDYHUVpHGHO¶LQWHUIDFHYHUUHFULVWDO. HVW XQH FRQVWDQWH TXL HVW JpQpUDOHPHQW GpWHUPLQpH SDU OD WKpRULH GH 7XUQEXOO HW )LVFKHU'DQVOHVFDVRODFULVWDOOLVDWLRQLQWHUYLHQWVDQVFKDQJHPHQWGHFRPSRVLWLRQ VLOLFHYLWUHXVHSDUH[HPSOH

(115) RQSDUOHGHFULVWDOOLVDWLRQFRQJUXHQWHHWODIUpTXHQFHGH VDXWDPHQDQWXQDWRPHGXOLTXLGHVXUIRQGXYHUVOHFULVWDOHVWOLPLWpHSDUODYLVFRVLWp GXPLOLHXο †HVWGRQFGpSHQGDQWHGXFRHIILFLHQWGHGLIIXVLRQ'GXOLTXLGHVXUIRQGX. . ‫ ܦ‬ൌ. ݇஻ ܶOଶ ο † ‡š’ ൬െ ൰ ݄ . ,

(116) . DYHFOODGLVWDQFHGHVDXW aGHX[IRLVOHUD\RQLRQLTXH

(117) HWKODFRQVWDQWHGH3ODQN&H FRHIILFLHQWGHGLIIXVLRQSHXWDLQVLrWUHFDOFXOpHQPHVXUDQWODYLVFRVLWpKGXPLOLHXHQ DSSOLTXDQWODUHODWLRQGH6WRNHV(LQVWHLQ. ‫ ܦ‬ൌ. . ݇஻ ܶ  ͵ߨOK. ,

(118) . 'DQV OHV V\VWqPHV GRQQDQW OLHX j GHVWUDQVIRUPDWLRQVUHFRQVWUXFWLYHV FULVWDOOLVDWLRQQRQFRQJUXHQWH

(119) F¶HVW OD GLIIXVLRQ GH O¶HVSqFH OD PRLQV PRELOH TXL OLPLWH OD YLWHVVH HW ¨*G GRLWDORUVrWUHDVVLPLOpHjO¶pQHUJLH G¶DFWLYDWLRQ GH FHWWH HVSqFH 3DU FRQVpTXHQW DX[ IDLEOHV GHJUpV GH VXUIXVLRQODEDUULqUHG¶DFWLYDWLRQHVW pOHYpHHWYDMRXHUXQU{OHPDMHXUOD. )LJXUH,7DX[GHQXFOpDWLRQ,HQIRQFWLRQGHOD. YLWHVVH GH QXFOpDWLRQHVWGRQF WUqV. WHPSpUDWXUH VHOLWHQSDUWDQWGH7I

(120) . IDLEOH(QVXLWHODYLWHVVHGHQXFOpDWLRQ,DXJPHQWHEUXVTXHPHQWHWGHYLHQWPD[LPDOH ORUVTXH :  HW ο † VRQW GX PrPH RUGUH GH JUDQGHXU DXWUHPHQW GLW ORUVTXH OD WHPSpUDWXUH HVW VXSpULHXUH HW SURFKH GH 7J 3XLV ORUVTXH OH GHJUp GH VXUIXVLRQ DXJPHQWHHQFRUHODSUREDELOLWpGHIRUPHUXQJHUPHDXJPHQWH : GLPLQXH

(121) PDLVOD. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(122) YLVFRVLWpDXJPHQWHGUDVWLTXHPHQWHWODGLIIXVLRQGHVHVSqFHVHVWGRQFUDOHQWLHο † DXJPHQWHDORUVFHTXLGLPLQXHODYLWHVVHGHQXFOpDWLRQ, )LJXUH,

(123)  E

(124) 1XFOpDWLRQKpWpURJqQH (QUpDOLWpOHVFDVGHQXFOpDWLRQ KRPRJqQHVRQWUDUHV/DSOXSDUW GHV WUDQVIRUPDWLRQV GH SKDVH VH IRQW VXU GHV KpWpURJpQpLWpV WHOOHV GHV SKDVHV FULVWDOOLQHV GpMjQXFOppHVORUVGHODWUHPSH GHV GpIDXWV HQ VXUIDFH GHV LPSXUHWpV XWLOLVDWLRQ G¶DJHQWV. )LJXUH,6FKpPDpQHUJpWLTXHGHODQXFOpDWLRQKRPRJqQHHW. QXFOpDQWV

(125) RXHQFRUHGHVEXOOHV. GHODQXFOpDWLRQKpWpURJqQH. SUpVHQWHV GDQV OH YHUUH HW TXL VRQW GHV VLWHV GH QXFOpDWLRQ SUpIpUHQWLHOV. /D. QXFOpDWLRQ. KpWpURJqQH FRQGXLW j XQH IRUWH UpGXFWLRQGHO¶pQHUJLHGHVXUIDFHGX JHUPH )LJXUH ,

(126)  FH TXL UpGXLW OH WUDYDLOGHIRUPDWLRQG¶XQJHUPH3RXU PRGpOLVHU OD QXFOpDWLRQ KpWpURJqQH OHVK\SRWKqVHVIRQGDPHQWDOHVGHOD. )LJXUH,5HSUpVHQWDWLRQVFKpPDWLTXHGXPRXLOODJH. &17GRLYHQWrWUHPRGLILpHV(QHIIHW. LQWHUYHQDQWORUVGHODQXFOpDWLRQKpWpURJqQH. QRXVQHSRXYRQVSOXVFRQVLGpUHUOHVJHUPHVFRPPHpWDQWSDUIDLWHPHQWVSKpULTXHV FDU FHV GHUQLHUV © PRXLOOHQW ª XQH VXUIDFH HW VRQW GRQF DVVLPLOpV j GHV FDORWWHV VSKpULTXHV /H PRXLOODJH HVW DORUV GpILQL SDU O¶DQJOH GH FRQWDFW ș HQWUH OH JHUPH HW OD VXUIDFH IDYRUDEOHjODQXFOpDWLRQKpWpURJqQHFRPPHLOOXVWUpVXUOD)LJXUH,$LQVLSRXUXQ FRQWDFWSDUIDLWO¶DQJOHHVWQXO(QRXWUHSOXVXQHVXUIDFHHVWPRXLOOpHSDUOHOLTXLGH VXUIRQGX SOXV O¶pQHUJLH GH VXUIDFH HVW UpGXLWH &HFLHQWUDvQH DORUV XQHPRGLILFDWLRQ G¶RUGUHpQHUJpWLTXHFDULOIDXWSUHQGUHHQFRPSWHOHVWHUPHVG¶pQHUJLHGHVXUIDFHOLpV jWRXWHVOHVLQWHUIDFHV )LJXUH,

(127) /¶pTXDWLRQGH<RXQJ'XSUpSHUPHWDLQVLGHSUpGLUH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(128) O¶DQJOH GH FRQWDFW HQIRQFWLRQGHV WHQVLRQVGH VXUIDFH JKO KpWpURJpQpLWpOLTXLGH

(129)  JKJ KpWpURJpQpLWpJHUPH

(130) HWJJO JHUPHOLTXLGH

(131) . JKO JKJJJOFRVș. . ,

(132) . /HVpQHUJLHVLQWHUIDFLDOHVVRQWGpVDYDQWDJHXVHVSRXUOHVLQWHUIDFHVJHUPHOLTXLGHHW KpWpURJpQpLWpJHUPHPDLVEpQpILTXHVSRXUO¶LQWHUIDFHKpWpURJpQpLWpOLTXLGH/HWUDYDLO GHIRUPDWLRQG¶XQJHUPHGHYLHQWDORUVSRXUXQHQXFOpDWLRQKpWpURJqQH . :KHW 9ǻ*9$JOJJO$KJ JKJJKO

(133)  9ǻ*9$JOJJO±$KJJJOFRVș. ,

(134) .  $JOHW$KJGpVLJQHQWUHVSHFWLYHPHQWO¶DLUHGHODFDORWWHPHWWDQWHQFRQWDFWOHJHUPH HWOHOLTXLGHHWO¶DLUHPHWWDQWHQFRQWDFWOHOLTXLGHHWO¶KpWpURJpQpLWp

(135) (QWHQDQWFRPSWH GHVFRQVLGpUDWLRQVJpRPpWULTXHVQRXVREWHQRQV. . :KHW ȟ 9 ൅ JJOɎ”ሺʹ െ ͵ ‘•Ʌ ൅  ‘•Ʌሻ . ሺଶାୡ୭ୱ஘ሻሺଵିୡ୭ୱ஘ሻ ସ. KRP. ,

(136) . DYHF : KRP VH UDSSRUWDQW DX WUDYDLO GH IRUPDWLRQ G¶XQ JHUPH KRPRJqQH GpILQLW SUpFpGHPPHQW/HVPRGLILFDWLRQVOLpHVjODQXFOpDWLRQKpWpURJqQHLQWURGXLVHQWDLQVL XQ IDFWHXU PXOWLSOLFDWLI I GpILQLW SDU ݂ሺߠሻ ൌ. ሺଶାୡ୭ୱ஘ሻሺଵିୡ୭ୱ஘ሻʹ ସ.   TXL HVW GRQF WRXMRXUV. LQIpULHXURXpJDOjSRXUWRXWDQJOHGHFRQWDFWș $XWUHPHQWGLW: KHW ” :KRPFHTXLVLJQLILHTXHODQXFOpDWLRQKpWpURJqQHHVWWRXMRXUV IDYRULVpH SDU UDSSRUW j OD QXFOpDWLRQ KRPRJqQH /¶H[WUHPXP GH : KHW SHUPHW GH GpWHUPLQHUOHVYDOHXUVFULWLTXHVGXUD\RQGXJHUPHHWGHVRQWUDYDLOGHIRUPDWLRQFH TXLGRQQH ଶఊ. ଵ. ‫כ‬ ‫כ‬ ‫ כ‬ሺ ൌ െ οீ‰ŽHWܹ௛௘௧ ൌ ସ ܹ௛௢௠ ʹ ൅ ܿ‫ߠݏ݋‬ሻሺͳ െ ܿ‫ߠݏ݋‬ሻଶ  ‫ݎ‬௛௘௧ . ‫כ‬ ‫כ‬ ‫כ‬ ‫כ‬ 1RXV SRXYRQV UHPDUTXHU TXH ‫ݎ‬௛௘௧ ൌ  ‫ݎ‬௛௢௠   HW  ܹ௛௘௧ ൌ  ݂ሺߠሻܹ௛௢௠   (Q RXWUH F¶HVW. O¶DQJOH GH PRXLOODJH HQ SUpVHQFH G¶XQH KpWpURJpQpLWp

(137)  TXL GpWHUPLQH OH EpQpILFH pQHUJpWLTXH GH OD QXFOpDWLRQ KpWpURJqQH SDU UDSSRUW j OD QXFOpDWLRQ KRPRJqQH 1pDQPRLQV FHWWH DSSURFKH GHPHXUH WUqV TXDOLWDWLYH FDU OH FRHIILFLHQW I j SULRUL QH $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(138) SHXWSDVrWUHHVWLPp(QILQO¶DVSHFWKpWpURJqQHGHODQXFOpDWLRQSHXWpJDOHPHQWrWUH OLpjXQHYDULDWLRQGHVEDUULqUHVpQHUJpWLTXHV ,&URLVVDQFHFULVWDOOLQH 4X¶LPSRUWH OH PRGH GH QXFOpDWLRQ OHV JHUPHV D\DQW DWWHLQW XQH WDLOOH FULWLTXH YRQW SRXYRLU FURvWUH DYHF XQH YLWHVVH GpSHQGDQW GH WURLV SDUDPqWUHV  OD YLWHVVH DYHF ODTXHOOH OHV DWRPHV YRQW SRXYRLU GLIIXVHU YHUV OD VXUIDFH GX FULVWDO QpRIRUPp   OD PDQLqUH GRQW LOV YRQW SRXYRLU WUDYHUVHU O¶LQWHUIDFH YHUUHFULVWDO  HW OD YLWHVVH GH GLVVLSDWLRQ GH OD FKDOHXU ODWHQWH GH FULVWDOOLVDWLRQ FRQGXLVDQW j GHV PRUSKRORJLHV GLIIpUHQWHV

(139)  D

(140) &LQpWLTXHGHFULVWDOOLVDWLRQ 'DQV OHV FDV VLPSOHV j XQ FRPSRVDQW VL OD FURLVVDQFH HVW FRQWLQXH WRXV OHV VLWHV G¶DGVRUSWLRQjODVXUIDFHGXFULVWDOVRQWpTXLYDOHQWVODFURLVVDQFHFULVWDOOLQHVHSURGXLW SDU XQ UpDUUDQJHPHQW j FRXUWH GLVWDQFH GHV DWRPHV HW HOOH HVW FRQWU{OpH. SDU. O¶LQWHUIDFH. /¶DGVRUSWLRQ HVW VXSSRVpH VLPLODLUH j XQ VDXW GLIIXVLI GDQV OH OLTXLGH ,O IDXWGRQFWHQLUFRPSWHGHODYLWHVVH GH SDVVDJH OLTXLGH ĺ FULVWDO XOF DGVRUSWLRQ

(141) . FRUUHVSRQGDQW. j. O¶DGKpVLRQ G¶XQ DWRPH ǻ*'

(142)  HW OD YLWHVVHGXSDVVDJHFULVWDOĺOLTXLGH XFO GpVRUSWLRQ

(143)  FRUUHVSRQGDQW j XQ GpWDFKHPHQW ǻ*'ǻ*9

(144) . )LJXUH,6FKpPDpQHUJpWLTXHGXSDVVDJHG¶XQ DWRPHGHO¶pWDWOLTXLGHjVROLGHHWLQYHUVHPHQW. /H SURFHVVXV GH GpVRUSWLRQ HVW GpIDYRUDEOH GX IDLW GH OD EDUULqUH pQHUJpWLTXH SRXU TXLWWHU O¶pWDW G¶pTXLOLEUH FULVWDOOLQ SRXU UHMRLQGUH OH OLTXLGH VXUIRQGX )LJXUH ,

(145)  8Q DWRPHSUpVHQWjODVXUIDFHGXFULVWDOYDUpVLVWHUjFHWWHIXVLRQGHIDoRQSURSRUWLRQQHOOH jODIRUFHGHVDOLDLVRQDXFULVWDOFHTXLVHWUDGXLWSDUODYDULDWLRQG¶pQHUJLHOLEUHǻ*9 (QILQFHVGHX[YLWHVVHVV¶H[SULPHQWSDUOHSURGXLWGHODGLVWDQFHGHVDXWȜ RXGLVWDQFH. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(146) LQWHUDWRPLTXH

(147) GHODIUpTXHQFHGHVYLEUDWLRQVDWRPLTXHVȞHWGHODSUREDELOLWpGHIDLUH XQVDXWGLIIXVLIIDYRULVpSDUXQHDFWLYDWLRQWKHUPLTXH ୼ୋ. XŽ ൌ Oߥ‡š’ቀെ ௞ ் ቁ. HW. . X Ž ൌ Oߥ‡š’ቀെ. ୼ୋି୼ୋ ௞். ቁ. /DYLWHVVHGHFURLVVDQFH9GXFULVWDOHVWODGLIIpUHQFHHQWUHFHVGHX[YLWHVVHVGHVDXW. ܸ ൌ Oߥ‡š’൬െ. . ȟ  ȟ  ൰ ൤ͳ െ ݁‫ ݌ݔ‬൬ ൰൨ ݇ܶ ݇ܶ. ,

(148) . /DIUpTXHQFHGHVDXWpWDQWUHOLpHDXFRHIILFLHQWGHGLIIXVLRQHWjODGLVWDQFHGHVDXW Qv'O

(149) O¶H[SUHVVLRQGHODYLWHVVHGHYLHQW. . ܸൌ. ‫ܦ‬. O. ‡š’൬െ. ȟ ' ȟ 9 ൰ ൤ͳ െ ݁‫ ݌ݔ‬൬ ൰൨ ݇%ܶ ݇%ܶ. ,

(150) . 2QSHXWDLQVLGpILQLUOHWDX[GHFURLVVDQFHGHVFULVWDX[8 7

(151) SDU. ܷሺܶሻ ൌ ݂ Oߥ‡š’൬െ. . ȟ ' ȟ 9 ൰ ൤ͳ െ ݁‫ ݌ݔ‬൬ ൰൨ ݇%ܶ ݇%ܶ. ,

(152) . $YHF I  OD IUDFWLRQ GH VLWHV VXU OD VXUIDFH GX FULVWDO GLVSRQLEOH SRXU OD FURLVVDQFH FRPSULVHHQWUHHW

(153) 'DQVOHFDVGHODFURLVVDQFHǻ* 'Q¶HVWSDVULJRXUHXVHPHQW LGHQWLTXH j O¶pQHUJLH G¶DFWLYDWLRQ GH OD QXFOpDWLRQ FDU FRQWUDLUHPHQW j OD QXFOpDWLRQ FHOOHFLLPSOLTXHXQHGLIIXVLRQjORQJXHGLVWDQFH$LQVLHQDGPHWWDQWTXHODGLIIXVLRQ GHPDWLqUHVHIDVVHSDUpFRXOHPHQWYLVTXHX[HOOHVHUDDORUVOLpHjODYLVFRVLWpSDUOD IRUPXOHGH6WRNHV(LQVWHLQ ,

(154) . ܷሺܶሻ ൌ ݂ ȗ . . . . ȟ  ݇஻ ܶ ൤ͳ െ ݁‫ ݌ݔ‬൬ ൰൨ ͵ߨOK ݇ܶ. ,

(155) . 'DQVOHVV\VWqPHVFRPSOH[HVPXOWLFRPSRVDQWVODFURLVVDQFHHVWSOXW{WOLPLWpHSDU OD GLIIXVLRQ GHV DWRPHV GDQV OH OLTXLGH VXUIRQGX TXHSDUOHV EDUULqUHV pQHUJpWLTXHV $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(156) DX[LQWHUIDFHV>@$X[SUHPLHUVLQVWDQWVODFURLVVDQFHHVWWRXMRXUVFRQWU{OpHSDUOD UpDFWLRQ j O¶LQWHUIDFH FULVWDOOLTXLGH VXUIRQGX PDLV UDSLGHPHQW O¶DSSDXYULVVHPHQW GH O¶HQYLURQQHPHQW SURFKH GX FULVWDO HQ pOpPHQWV IRUPDWHXUV IDLW TXH OH SURFHVVXV GH GLIIXVLRQDWRPLTXHjORQJXHGLVWDQFHGHYLHQWOHIDFWHXUOLPLWDQWODIRUPDWLRQGXFULVWDO 8QHFURLVVDQFHSUpIpUHQWLHOOHHVWDORUVREVHUYpHVHORQXQHGLUHFWLRQGHO¶HVSDFHOHV FULVWDX[IRUPpVQHVRQWSDVVSKpULTXHVHWOHXUVGLPHQVLRQVVRQWDORUVSURSRUWLRQQHOOHV DXWHPSVGHWUDLWHPHQWWKHUPLTXH (QRXWUHELHQTXHOHVYLWURFpUDPLTXHVEpQpILFLHQWG¶XQGpYHORSSHPHQWLPSRUWDQWDX QLYHDX LQGXVWULHO OHV GRQQpHV FLQpWLTXHV H[LVWDQWHV VXU FH VXMHW GHPHXUHQW HQFRUH DVVH]SDXYUHV/DWKpRULHFODVVLTXHGHODQXFOpDWLRQHVWGLIILFLOHPHQWDSSOLFDEOHG¶R OHGpYHORSSHPHQWGHQRXYHDX[PRGqOHVFRUUpOpVjGHVREVHUYDWLRQVGLUHFWHVIDLWHV SDUH[HPSOHSDUPLFURVFRSLHpOHFWURQLTXHHQWUDQVPLVVLRQKDXWHUpVROXWLRQ3DUPLFHV PRGqOHVQRXVSRXYRQVFLWHUODG\QDPLTXHG¶DPDVLQLWLDOHPHQWVXJJpUpHSDU9ROPHU HW:HEHU>@ODWKpRULHGHO¶LQWHUIDFHGLIIXVHGpYHORSSpHSDU*UDQDV\HWDO>@RX HQFRUHOHVPRGqOHVjPXOWLSOHVpWDSHVVHEDVDQWVXUO¶DSSURFKHJpQpUDOLVpHGH*LEEV >@ROHVSURSULpWpVGXJHUPHSHXYHQWGLIIpUHUGHFHOOHVGHODSKDVHPDFURVFRSLTXH E

(157) 0RUSKRORJLHGHVFULVWDX[ &RPPHpYRTXpSUpFpGHPPHQWODFURLVVDQFHHVWLQIOXHQFpHSDUOHVIDFWHXUVOLPLWDQW VRQGpYHORSSHPHQWFHTXLSHXWDYRLUXQHWUqVIRUWHLQIOXHQFHVXUODPRUSKRORJLHGHV FULVWDX[3DUPLFHVSDUDPqWUHVQRXVSRXYRQVpJDOHPHQWFLWHUODFKDOHXU ODWHQWHGH FULVWDOOLVDWLRQ GpJDJpH ORUV GH OD IRUPDWLRQ GX FULVWDO /D IDFLOLWp GRQW GLVSRVH OH V\VWqPH SRXU pYDFXHU FHWWH FKDOHXU D GHV FRQVpTXHQFHV GLUHFWHV VXU OH WDX[ GH FURLVVDQFH(QHIIHWVLODSURGXFWLRQGHFKDOHXUHVWSOXVUDSLGHTXHVRQpYDFXDWLRQOD WHPSpUDWXUHYDPRQWHUjO¶LQWHUIDFHFULVWDOOLTXLGHVXUIRQGXOLPLWDQWDORUVODFURLVVDQFH FULVWDOOLQH *pQpUDOHPHQWRQGLVWLQJXHGHX[PpFDQLVPHVGHFURLVVDQFHFULVWDOOLQH ƒ XQHFURLVVDQFHFRQWLQXHROHVXQLWpVVWUXFWXUDOHVV¶DWWDFKHQWVXUQ¶LPSRUWHTXHO VLWHGXFULVWDOHQWUDvQDQWXQHFULVWDOOLVDWLRQXQLIRUPHGDQVOHVWURLVGLUHFWLRQVGH O¶HVSDFH. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(158) ƒ RXELHQXQHFURLVVDQFHODWpUDOHRO¶DGKpVLRQVHIDLWVXUGHVVLWHVSUpIpUHQWLHOV VRLWSDUXQSURFHVVXVGHQXFOpDWLRQGHVXUIDFHVRLWVXUXQHGLVORFDWLRQYLV /¶H[SUHVVLRQGXWDX[GHFURLVVDQFHGpILQLSUpFpGHPPHQWPRQWUHELHQTXHODIUDFWLRQ I WLHQWFRPSWHG¶XQHFURLVVDQFHODWpUDOHHWGXIDLWTX¶XQDWRPHSUpVHQWGDQVOHOLTXLGH VXUIRQGXQHSHXWLQWpJUHUWRXVOHVVLWHVjODVXUIDFHGXFULVWDODYHFODPrPHSUREDELOLWp $LQVL OD UXJRVLWp DWRPLTXH GH O¶LQWHUIDFH GpWHUPLQH VLOD FURLVVDQFH HVW FRQWLQXH RX DYHF XQH RULHQWDWLRQ SUpIpUHQWLHOOH 7URLV W\SHV GH FURLVVDQFH PHQDQW j GHV PRUSKRORJLHVGLIIpUHQWHVSHXYHQWDORUVrWUHGLVWLQJXpV. -. /DFURLVVDQFHFRQWU{OpHSDUOHVUpDFWLRQVjO¶LQWHUIDFHOLTXLGHVROLGHTXLFRQGXLW j GHV FULVWDX[ D\DQW XQ UpVHDX FULVWDOOLQ VLPLODLUH j XQ FULVWDO SDUIDLW IDFHV FULVWDOOLQHV SODQHV

(159)  GX IDLW GH O¶DEVHQFH GH FRQWUDLQWHV VSDWLDOHV SHQGDQW OD FULVWDOOLVDWLRQ. -. /DFURLVVDQFHFRQWU{OpHSDUODGLIIXVLRQTXLSHXWJpQpUHUXQHFULVWDOOLVDWLRQQRQ FRQJUXHQWH$XWUHPHQWGLWOHVROLGHFULVWDOOLVpDXQHFRPSRVLWLRQGLIIpUHQWHGH FHOOHGXOLTXLGHHQYLURQQDQWODFURLVVDQFHHVWGRQFOLPLWpHSDUOHVGLIIpUHQWHV YLWHVVHVGHGLIIXVLRQGHVHVSqFHV/HVFULVWDX[SUpVHQWHQWDORUVGHVDUrWHVHW GHVVRPPHWVPDLVOHVIDFHVVRQWLQFRPSOqWHV. -. /DFURLVVDQFHFRQWU{OpHSDUODGLVVLSDWLRQGHODFKDOHXUODWHQWHGHFULVWDOOLVDWLRQ TXLFRQGXLWjGHVVSKpUROLWHVRXGHVGHQGULWHVGHVFULVWDX[HQIRUPHG¶DLJXLOOHV FDU OHV VRPPHWV SRXVVHQW EHDXFRXS SOXV YLWH TXH OHV DUrWHV HW VXUWRXW OHV IDFHV. /D FURLVVDQFH GHQGULWLTXH HVW XQ FDV G¶LQVWDELOLWp PRUSKRORJLTXH LQWHUIDFLDOH j IRUWH VXUIXVLRQ /HV FULVWDX[ LVVXV GH FH W\SH GH FURLVVDQFH VRQW FRPSRVpV G¶XQ FULVWDO SULQFLSDOTXLFRQVWLWXHOH©WURQFªHWTXLFURvWUDSLGHPHQWDXGpEXWGHODVROLGLILFDWLRQ DXTXHO V¶DMRXWHQW XOWpULHXUHPHQW GHV © EUDQFKHV ª TXL FURLVVHQW DYHF XQH YLWHVVH LQIpULHXUH j FHOOH GX © WURQF ª /HV PpFDQLVPHV j O¶RULJLQH GH FHWWH PRUSKRORJLH SDUWLFXOLqUH VRQW OD GLIIXVLRQ GHV DWRPHV HW OD YLWHVVH GH GLVVLSDWLRQ GH OD FKDOHXU ODWHQWHVLELHQTX¶RQREVHUYHVRXYHQWFHWWHFURLVVDQFHGHQGULWLTXHORUVTXHOHFULVWDO SUpVHQWHXQHFRPSRVLWLRQGLIIpUHQWHGXOLTXLGH&HSKpQRPqQHSHXWGRQFpJDOHPHQW. $QWKRQ\%HUWUDQG_7KqVHGHGRFWRUDW_8QLYHUVLWpGH/LPRJHV_. . .

(160) rWUH DPSOLILp SDU GHV LPSXUHWpV SRXYDQW EORTXHU OD FURLVVDQFH GDQV FHUWDLQHV GLUHFWLRQVGHO¶HVSDFH (QILQ OH WDX[ GH FURLVVDQFH SHXW rWUH UDOHQWL ORUVTXH GHV FRQWUDLQWHV PpFDQLTXHV DSSDUDLVVHQW ORUV GH OD FURLVVDQFH LQLWLDOH GHV FULVWDX[ GX IDLW G¶XQH GLIIpUHQFH LPSRUWDQWH GH YROXPHHQWUH ODQRXYHOOH SKDVH HW OH OLTXLGH VXUIRQGX &HV HIIHWV RQW QRWDPPHQW pWp PLV HQ pYLGHQFH H[SpULPHQWDOHPHQW SDU =ZDQ]LJHU HW DO >@ GpPRQWUDQW TXH O¶pQHUJLH pODVWLTXH QH GRLW SDV rWUH QpJOLJpH GDQV OH FDV GH OD FULVWDOOLVDWLRQSDUQXFOpDWLRQFURLVVDQFH F

Références

Documents relatifs

[r]

&amp;RORSODVW :HOOVSHFW $VWHOODV $OOHUJDQ ,QWHUYHQWLRQV SRQFWXHOOHV UDSSRUWV G·H[SHUWLVH &amp;RORSODVW :HOOVSHFW ,QWHUYHQWLRQV SRQFWXHOOHV DFWLYLWpV GH FRQVHLO

6HSUHVHQWDURQDO&amp;RPLWpGH$XGLWRUtDHQVXVpSWLPDUHXQLyQDQWHVGHODUHXQLyQGHO&amp;RQ

3RUORTXHUHVSHFWDDOFRQILQDPLHQWRGHOSROLRYLUXVHQODERUDWRULRORVSDtVHVGHODVWUHVUH JLRQHVGHOD206GRQGHVHKDFHUWLILFDGRODDXVHQFLDGHODHQIHUPHGDGKDQHPSH]DGRDEXVFDULQVWD ODFLRQHV DO HIHFWR

D TXH VLJDQ FRQFHGLHQGR DOWD SULRULGDG DO FRQWURO GH OD WULSDQRVRPLDVLV DIULFDQD KXPDQD.

,O LPSRUWH WRXWHIRLV GH VRXOLJQHU OH UHQYHUVHPHQW GH VLWXDWLRQ DYHF OH FDV GHV pOpPHQWV GHV WHUUHV UDUHV F¶HVW j GLUH FHX[ TXL FRUUHVSRQGHQW

100 à la ration de sevrage du porcelet entre 5 et 9 semaines d’âge permet des performances de croissance compara- bles à celles obtenues avec la farine de manioc (racines

Temperature-dependent development and survival of immature stages of the alfalfa leafcutter bee, Megachile rotundata (Hymenoptera: Megachilidae).. GH Whitfield KW