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  • 7/21/2019 Jurnal Penelitian/Research Journal

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    KEKHL]L] MRQQBEY QKYLJ IKE YJYKH K]]BY] YRQEJPBQ QKYLJ

    YBQCKIKV VBQYROARCKE HKAK VKIK VBQR]KCKKE OKER@KGYRQ

    \KEN YBQIK@YKQ IL LIS YKCRE 16;;-16;=

    Jhbc4

    ^lhhy \ketj

    Okckslswk Vrjnrko ]tuil Kguetkesl Relvbrsltks Vutbrk Aktko

    Iwl ]uolekrej

    Ijsbe Vrjnrko ]tuil Kguetkesl Relvbrsltks Vutbrk Aktko

    KA]YQKMY

    Ycls stuiy wks mjeiumtbi wltc purpjsb tj bxkoleb tcb b``bmt j` kekhyst vkrlkahbs Murrbet

    Qktlj (MQ) kei Yjtkh Kssbts Yurejvbr Qktlj (YKY) tj prj`lt nrjwtc le okeu`kmturlen

    mjopkelbs tckt krb rbnlstbrbi le LIS le 16;;-16;=. Le tcls stuiy, okeu`kmturlen mjopkelbs

    tckt krb bxkolebi jehy hloltbi tj sua-sbmtjr ls sua sbmtjr mjopkey okeu`kmturlen leiustry j`

    `jjis kei abvbrknbs. Le tcls mksb rbsbkrmcbrs usbi iktk j` mjopkeys `lekemlkh stktbobets

    sua-sbmtjr okeu`kmturlen leiustry j` `jjis kei abvbrknbs suaslilkrlbs pbr =; Ibmboabr,

    wclmc ls hlstbi le wltc tcb klo lix tj kvjli tcb ue`klrebss le mjesjhliktbi `lekemlkh. Le tcls

    stuiy, rbsbkrmcbrs uslen skophbs ks okey ks ;1 okeu`kmturlen mjopkelbs sua-sbmtjr `jjis

    kei abvbrknbs leiustry wks bhbmtbi ay purpjslvb skophlen. K tjjh `jr k kekhysls tckt usbi le

    tcls stuiy ouhtlphb rbnrbsslje kekhysls ls hlebkr mjopjueis, cypjtcbsls (mjb``lmlbet

    ibtbrolektlje, trlkh @, kei trlkh t) tbstbi le tcb trlkh iktk mke ab mjemhuibi tckt tcb vkrlkahb

    MQ kei YKY pkrtlkhhy ejt tjwkri tcb nrjwtc j` ebt slnel`lmkethy b``bmt tcb slnel`lmkemb wltc

    tcb vkhub j` clnc slnel`lmkemb 6.62 tckt ls 6.>>6 kei 6.>9

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    obrupkgke suoabr utkok pbrgboakenke leiustrl il iuelk. Vbrgboakenke pbruskckke

    okeu`kgtur ikpkt ilnuekgke uetug obhlckt pbrgboakenke pbruskckke sbmkrk eksljekhlsob

    ike pkik uouoeyk obenugur gbabrckslhke suktu pbruskckke abrikskrgke glebrdk

    pbruskckke. Vbrgboakenke lel ikpkt ilhlckt aklg ikrl kspbg gukhltks prjiug yken

    ilckslhgkeeyk okupue glebrdk pbruskckke sbmkrk gbsbhurucke, sbclennk pbrgboakenke

    pbruskckke okeu`kgtur skenkt obolmu pkik pbruskckke dksk ike pbruskckke iknken.

    ]khkc sktu tuduke pbruskckke kikhkc hkak. Hkak obrupkgke suktu bhbobe yken pkhlen

    pbetlen ikhko obelhkl glebrdk pbruskckke. Ckh lel ilgkrbekgke sbokgle aklg pbrtuoaucke

    hkak obeueduggke akcwk sbokgle aknus glebrdk pbruskckke, sbclennk hkak pbruskckke

    tbrsbaut ilnuekgke sbaknkl ikskr pbenkoalhke gbputuske levbstksl aknl pkrk levbstjr aklg

    ikhko ebnbrl okupue hukr ebnbrl. Ilskoplen ltu, uetug obhlckt hkak ktku runleyk pbruskckke

    ilpbrhugke hkpjrke gbukenke yken keikh, sbclennk pkrk levbstjr ikpkt obenkoalh gbputuske

    levbstksl obhkhul hkpjrke gbukenke yken tbhkc ilkuilt. Hkpjrke gbukenke kikhkc mktktke

    le`jroksl gbukenke suktu pbruskckke pkik suktu pbrljib kguetkesl yken ikpkt ilnuekgke

    uetug obennkoakrgke glebrdk pbruskckke tbrsbaut. Yuduke hkpjrke gbukenke kikhkc

    obeybilkgke le`jroksl kguetkesl yken obeykengut pjslsl gbukenke, glebrdk, sbrtk

    pbruakcke pjslsl gbukenke suktu pbruskckke yken abroke`kkt aknl pkrk pbokgkl ikhko

    pbenkoalhke gbputuske. Hkpjrke gbukenke yken hbengkp ikhko obelhkl glebrdk pbruskckke

    kikhkc ebrkmk, hkpjrke hkak runl, hkpjrke pbruakcke bgultks, hkpjrke khlrke gks, ike mktktke

    hkpjrke gbukenke.

    Knkr abroke`kkt le`jroksl kguetkesl ikhko hkpjrke gbukenke, okgk ckrus kgukrkt,

    tbpkt wkgtu, hbengkp, rbhbvke, tbrpbrmkyk, tbrvbrl`lgksl, ouikc ilpkckol, ike ouikc

    ilpbrjhbc ikhko obobeucl gbautucke pbokgkl ikhko prjsbs pbenkoalhke gbputuske

    (^lekroj, 16604;.>). Le`jroksl yken ilgktkgke kgurkt kpkalhk le`jroksl tbrsbaut abaks ikrl

    gbskhkcke ike tlikg alks ktku tlikg obeybsktgke sbrtk ckrus dbhks obembrolegke okgsuieyk.

    Gbtlikgkgurktke sbaukc le`jroksl ikpkt tbrdkil gkrbek suoabr le`jroksl obenkhkol

    nkennuke ktku gbsbenkdkke sbclennk obruskg ktku obenuakc iktk kshl tbrsbaut.

    Retug obhlckt kspbg gukhltks yken ilckslhgke jhbc pbruskckke okeu`kgtur, glebrdk

    pbruskckke, ike hkpjrke gbukenke ikpkt ilugur obhkhul skhkc sktu obilk pbenugurke ykltu

    rkslj gbukenke. Qkslj gbukenke kikhkc suktu khkt kekhlsls uetug obelhkl glebrdk suktu

    pbruskckke abrikskrgke pbrakeilenke iktk gbukenke yken tbrikpkt pkik pjs gbukenke,

    sbpbrtl hkpjrke runl/hkak, ebrkmk, ike khlrke gks. Obeurut Ckek`l ike Ckhlo (166>4>0)

    obeyktkgke akcwk rkslj gbukenke pkik ikskreyk ilaknl ikhko hlok okmko gktbnjrl, ykltu

    rkslj hlguliltks, rkslj kgtlvltks, rkslj sjhvkalhltks, rkslj prj`ltkalhltks, ike rkslj pkskr. Qkslj

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    hlguliltks kikhkc rkslj yken obenugur gbokopuke pbruskckke obobeucl gbwkdlake dkengk

    pbeibgeyk, sbclennk rkslj lel ikhko pbebhltlke lel ilwkglhl jhbc rkslj hkemkr (murrbet rktlj).

    Qkslj kgtlvltks kikhkc rkslj yken obenugur sbdkuc okek b`bgtl`ltks pbennuekke ksbt ibenke

    obhlckt tlengkt kgtlvltks ksbt, rkslj lel ikhko pbebhltlke lel ilwkglhl jhbc rkslj pbrputkrke

    tjtkh ksbt (tjtkh kssbts turejvbr rktlj). ]bhkle ikrl gbhlok dbels rkslj, tbrikpkt rkslj yken

    tbrgklt ikhko pbebhltlke lel kikhkc rkslj pbrtuoaucke (nrjwtc rktlj). Qkslj pbrtuoaucke

    (nrjwtc rktlj) kikhkc rkslj yken obenugur sbdkuc okek pbrgboakenke pbruskckke ibenke

    oboakeilengke pbrljib gb-t ibenke pbrljib sbabhuoeyk. Qkslj lel ikhko pbebhltlke lel

    ilwkglhl jhbc rkslj pbrtuoaucke hkak (bkrelen k`tbr tkx nrjwtc rktlj).

    Qkslj hkemkr (murrbet rktlj) yken sbhkeduteyk ilslengkt obedkil MQ, ykltu rkslj yken

    obenugur gbokopuke pbruskckke uetug obobeucl gbwkdlake dkengk pbeibgeyk ibenke

    obennuekgke ksbt hkemkreyk ilaknl ibenke gbwkdlake hkemkr. ]bokgle tlennl rkslj lel

    sbokgle aklg, tbtkpl MQ yken rbeikc obeueduggke rlslgj hlguliltks yken tlennl. ]bikengke

    MQ yken tlennl obeueduggke kikeyk gbhbalcke ksbt hkemkr, yken kgke obopueykl pbenkruc

    yken tlikg aklg tbrckikp prj`ltkalhltks pbruskckke. Ckh ilsbakagke gkrbek ksbt hkemkr sbmkrk

    uouo obenckslhgke rbtureyken hbalc rbeikc ilakeilengke ksbt tbtkp.

    Ibenke kikeyk kekhlsls rkslj hkemkr lel ikpkt oboabrlgke pbhuken gbpkik levbstjr

    ikhko pbenkoalhke gbputuske. Khkske pbolhlcke murrbet rktlj ilgkrbekgke rkslj lel

    obembrolegke hlguliltks pbruskckke ikhko oboabrlgke ckslh gbpkik levbstjr uetug

    obenkoalh gbputuske.

    Vbrputkrke tjtkh ksbt (tjtkh kssbts turejvbr rktlj) yken sbhkeduteyk ilslengkt obedkil

    YKY, ykltu rkslj yken obenugur sbdkuc okek gbokopuke pbruskckke obenckslhgke

    pbedukhke abrikskrgke tjtkh ksbt yken ilolhlgl pbruskckke. ]bokgle abskt YKY obeueduggke

    sbokgle b`bgtl` pbruskckke ikhko obenbhjhk ksbteyk uetug obeuedken gbnlktke pbedukhke.

    YKY yken tlennl obeueduggke okekdbobe yken aklg, ike sbakhlgeyk YKY yken rbeikc

    obeueduggke okekdbobe yken gurken ikhko obenbvkhuksl strktbnl, pbokskrkeeyk, ike

    pbenbhukrke ojikh. Ckh lel obeueduggke akcwk glebrdk pbruskckke yken sbokgle aklg

    sbclennk ikpkt obelengktgke hkak pbruskckke ike sbakhlgeyk glebrdk pbruskckke yken

    sbokgle tlikg aklg sbclennk tlikg ikpkt obelengktgke hkak pbruskckke sbmkrk prjpjsljekh.

    Khkske ikhko pbolhlcke tjtkh kssbts turejvbr ilgkrbekgke pbrputkrke tjtkh ksbt

    obembrolegke kgtlvltks pbruskckke. Ibenke obhlckt kgtlvltks pbruskckke lel ikpkt

    oboabrlgke b`bgtlvltks gbpkik okekdbobe pbruskckke ikhko pbenkoalhke gbputuske.

    Qkslj pbrtuoaucke hkak (bkrelen k`tbr tkx nrjwtc rktlj) kikhkc rkslj yken obenugur

    pbrgboakenke hkak pbruskckke ibenke oboakeilengke pbrljib lel ibenke pbrljib

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    sbabhuoeyk, ilokek pbrtuoaucke yken aklg obeueduggke akcwk pbruskckke obolhlgl

    gbukenke yken aklg sbclennk kgke obelengktgke elhkl pbruskckke gkrbek abskreyk ilvlibe

    yken kgke ilakykr il oksk yken kgke iktken skenkt abrnketuen pkik gjeilsl pbruskckke.

    Vbrtuoaucke hkak pkik pbruskckke ikpkt obopbrgukt cuauenke ketkrk abskreyk ktku ugurke

    pbruskckke ibenke tlengkt hkak yken ilpbrjhbc, ilokek pbrtuoaucke hkak pkik pbruskckke

    kgke obolhlgl duohkc ksbt yken abskr sbclennk oboabrlgke pbhuken yken hbalc abskr

    ilikhko obenckslhgke prj`ltkalhltkseyk.

    Ibenke ildkilgkeeyk rkslj gbukenke sbaknkl prbilgtjr pbrtuoaucke hkak il oksk yken

    kgke iktken, okgk tbouke lel obrupkgke pbenbtkcuke yken mugup abrnuek aknl pkrk

    pbokgkl hkpjrke gbukenke yken sbmkrk rllh sbrtk pjtbeslkh abrgbpbetlenke ibenke suktu

    pbruskckke.

    Abrikskrgke hktkr abhkgken tbrsbaut pbeuhls tbrtkrlg uetug obhkgugke pbebhltlke ibenke

    duiuh KEKHL]L] MRQQBEY QKYLJ IKE YJYKH K]]BY] YRQEJPBQ QKYLJ

    YBQCKIKV VBQYROARCKE HKAK VKIK VBQR]KCKKE OKER@KGYRQ

    \KEN YBQIK@YKQ IL LIS YKCRE 16;;-16;=.

    Knkr pbebhltlke lel abrdkhke ibenke hkemkr, okgk pbeuhls oboaktksl pbruskckke yken

    iltbhltl ykltu pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke yken tbrik`tkr

    il LIS tkcue 16;;-16;=.

    Kikpue pbruouske okskhkc yken ilakcks kikhkc (;) Kpkgkc murrbet rktljabrpbenkruc

    tbrckikp pbrtuoaucke hkak pkik pbruskckke okeu`kgtur yken tbrik`tkr il LIS: (1) Kpkgkc

    tjtkh kssbts turejvbr rktlj abrpbenkruc tbrckikp pbrtuoaucke hkak pkik pbruskckke

    okeu`kgtur yken tbrik`tkr il LIS: (=) ]babrkpk abskr murrbet rktljike tjtkh kssbts turejvbr

    rktljabrpbenkruc tbrckikp pbrtuoaucke hkak pkik pbruskckke okeu`kgtur yken tbrik`tkr il

    LIS:

    Vbebhltlke lel abrtuduke uetug obenbtkcul murrbet rktlj abrpbenkruc tbrckikp

    pbrtuoaucke hkak, tjtkh kssbts turejvbr rktljabrpbenkruc tbrckikp pbrtuoaucke hkak, ike

    uetug obenbtkcul sbabrkpk abskr murrbet rktljike tjtkh kssbts turejvbr rktljabrpbenkruc

    tbrckikp pbrtuoaucke hkak pkik pbruskckke okeu`kgtur yken tbrik`tkr il LIS.

    Vbebhltlke lel abroke`kkt uetug oboabrlgke rb`brbesl aknl pkrk pbebhltl sbhkeduteyk

    uetug obebhltl glebrdk gbukenke yken ilugur ibenke murrbet rktlj, tjtkh kssbts turejvbr rktlj,

    ike pbrtuoaucke hkak sbrtk oboabrlgke le`jroksl yken abrckslh ilguopuhgke ikhko

    pbebhltlke lel gbpkik levbstjr nuek sbaknkl akcke pbrtloakenke ikhko obhkgugke gbputuske

    levbstksl.

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    YLEDKRKE VR]YKGK IKE VBENBOAKENKE CLVJYB]L]

    Obeurut Ckrkckp (16694=;6), prj`lt nrjwtc kikhkc rkslj yken obeueduggke

    gbokopuke pbruskckke obelengktgke hkak abrslc tkcue lel ilakeilen ibenke tkcue hkhu.

    Leilgktjr pbrtuoaucke hkak yken ilnuekgke ikhko pbebhltlke lel kikhkc hkak sbabhuo pkdkg

    (bkrelen ab`jrb tkx). Vbennuekke hkak sbabhuo pkdkg sbaknkl leilgktjr pbrtuoaucke hkak

    ilgkrbekgke uetug obencleikrl pbenkruc pbennuekke tkrl` pkdkg yken abrabik ketkr pbrljib

    yken ilkekhlsls.

    Obeurut Ckrkckp (16694=6;), murrbet rktlj obeueduggke sbdkuc okek kgtlvk hkemkr

    obeutupl gbwkdlake-gbwkdlake hkemkr. ]bokgle abskr pbrakeilenke kgtlvk hkemkr ibenke

    utken hkemkr sbokgle tlennl gbokopuke pbruskckke obeutupl gbwkdlake dkengk pbeibgeyk.

    Obeurut Gksolr (16;14;=9), murrbet rktlj obrupkgke rkslj uetug obenugur gbokopuke

    pbruskckke ikhko oboakykr gbwkdlake dkengk pbeibg ktku utken yken sbnbrk dktuc tbopj

    pkik skkt iltknlc sbmkrk gbsbhurucke ibenke gktk hkle, sbabrkpk akeykg kgtlvk hkemkr yken

    tbrsbilk uetug obeutupl gbwkdlake dkengk pbeibg yken sbnbrk dktuc tbopj.

    Obeurut Ckrkckp (16694=6

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    C=4 Murrbet rktlj ike tjtkh kssbts turejvbr abrskok-skok abrpbenkruc tbrckikp

    pbrtuoaucke hkak, ilokek pbenkruc murrbet rktljhbalc ijoleke.

    Gbrkengk abrplglr obrupkgke sletbsk tbetken cuauenke ketkr vkrlkabh yken ilsusue

    ikrl abraknkl tbjrl yken tbhkc ilibsgrlpslgke (]unlyjej, 166

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    Ib`lelsl jpbrksljekh kikhkc ib`lelsl yken obedkilgke vkrlkabh-vkrlkabh yken sbiken

    iltbhltl obedkil abrsl`kt jpbrksljekh ikhko gkltkeeyk ibenke prjsbs pbenugurke vkrlkabh-

    vkrlkabh tbrsbaut (]krwjej, 166041>). Vbebhltlke lel obennuekgke sktu vkrlkabh ibpbeibe

    ike iuk vkrlkabh leibpbeibe.

    Ykabh ;. Ib`lelsl Jpbrksljekh Pkrlkabh

    PKQLKABHIB@LEL]L

    PKQLKABH]GKHK VBENRGRQKE

    ;. Pkrlkabh

    Ibpbeibe

    (\)

    Vbrtuoaucke

    4Hkak

    ]bhlslc hkak

    pbrljib sbgkrken

    ibenke hkak

    pbrljib

    sbabhuoeyk

    gbouilke ilaknl

    ibenke hkak pkik

    pbrljib

    sbabhuoeyk

    Qkslj BALY Ykcue lel BALY Ykcue Hkhu

    BALY Ykcue Hkhu x;66%

    1. Pkrlkabh

    Abaks (S)

    Murrbet Qktlj Qkslj ketkrk ksbt

    hkemkr ibenke

    hlkalhltks hkemkr

    Qkslj Ksbt Hkemkr

    Hlkalhltks Hkemkr

    Yjtkh Kssbts

    Yurejvbr

    Vrjpjrsl ketkrk

    pbedukhke abrslc

    ibenke sbhuruc

    gbgkykke yken

    ilolhlgl

    pbruskckke

    Qkslj Vbedukhke Abrslc

    Yjtkh Ksbt

    ]uoabr4 ilgboakengke uetug pbebhltlke

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    Vjpuhksl ike ]kopbh

    Vjpuhksl

    Vjpuhksl kikhkc wlhkykc nbebrkhlsksl yken tbrilrl ktks suadbg ktku jadbg yken

    obopueykl gukhltks ike gkrkgtbrlstlg tbrtbetu yken iltbtkpgke jhbc pbebhltl uetug ilpbhkdkrl

    sbrtk iltkrlg gbslopuhkeeyk. Vjpuhksl ikhko pbebhltlke lel kikhkc pbruskckke okeu`kgtur sua

    sbgtjr leiustrl okgkeke ike oleuoke yken tbrik`tkr il LIS pbrljib 16;;-16;= yken

    abrduohkc 93 iktk ikrl ;0 pbruskckke.

    ]kopbh

    Vbolhlcke skopbh ikhko pbebhltlke lel ilhkgugke ibenke obtjib purpjslvb skophlen.

    Vurpjslvb skophlen kikhkc tbgelg pbebetuke skopbh ibenke pbrtloakenke tbrtbetu.

    Vbrtloakenke-pbrtloakenke tbrsbaut kikhkc (;) Vbruskckke okeu`kgtur sua sbgtjr leiustrl

    okgkeke ike oleuoke yken tbrik`tkr il LIS ike gjeslstbe pkik pbrljib pbebhltlke (tkcue

    16;; skopkl ibenke 16;=)7 (1) Vbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike

    oleuoke yken obeybilkgke iktk hkpjrke gbukenke sbhkok gurue wkgtu pbebhltlke (tkcue

    16;; skopkl ibenke 16;=)7 ike (=) Vbruskckke tlikg obenckslhgke hkak ebnktl` sbhkok

    pbrljib 16;; skopkl ibenke 16;=.

    Abrikskrgke grltbrlk tbrsbaut, skopbh yken ilnuekgke ikhko pbebhltlke lel kikhkc =0

    iktk ikrl ;0 pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke.

    Dbels Iktk

    Vbebhltlke lel obennuekgke iktk sbgueibr ykltu abrupk hkpjrke gbukenke tkcueke

    pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke yken tbrik`tkr il LIS

    ibenke kgclr tkcue pboauguke pkik tkennkh =; Ibsboabr 16;;, 16;1, ike 16;=.

    Ybgelg Vbenuopuhke Iktk

    Iktk yken ilpbrjhbc ikhko pbebhltlke lel ibenke obennuekgke obtjib ijguobetksl

    ykltu pbenuopuhke iktk ibenke mkrk obopbhkdkrl, obenghksl`lgkslgke, ike obenkekhlsls iktk

    sbgueibr yken abrupk hkpjrke gbukenke ike le`jroksl hkleeyk yken tbrgklt ikhko hlengup

    pbebhltlke lel yken tbhkc ilpuahlgkslgke il LIS.

    CK]LH IKE VBOAKCK]KE

    Kekhlsls Ibsgrlptl`

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    3 .2>;60

    Pkhli E (hlstwlsb) =0

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Ikrl tkabh 1 il ktks ilgbtkcul akcwk duohkc iktk yken ilnuekgke ikhko pbebhltlke lel

    sbakeykg =0 iktk. ]bhkle ltu ilgbtkcul akcwk rktk-rktk pbrtuoaucke hkak sbabskr 6,=1>3

    ibenke stkeikr ibvlksl sbabskr 6,2>;60, elhkl olelouo -6,=0 ike elhkl okgslouo 1,1=.

    Murrbet Qktlj (MQ) obolhlgl rktk-rktk sbabskr 1,6960 ibenke stkeikr ibvlksl sbabskr

    ;,;==6>, elhkl olelouo 6,90, elhkl olelouo

    6,9< ike elhkl okgslouo 1,

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    ;6

    Nkoakr 1.Ejrokh Vrjakalhlty Vhjts

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh pbenjhkcke ]V]] yken iltueduggke jhbc nkoakr 1 pkik ojibh

    tbrsbaut obeueduggke akcwk iktk pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike

    oleuoke tkcue 16;;-16;= pkik ojibh rbnrbsl hlebkr abrnkeik abrilstrlausl ejrokh. Ckh

    tbrsbaut tbrdkil gkrbek iktk ilsbgltkr nkrls ilknjekh obeybakr ike obenlgutl krkc nkrls

    ilknjekh. ]bhkle udl ejrokhltks ibenke obennuekgke nrk`lg clstjnrko ike ejrokh

    prjakalhlty phjtsikpkt ilnuekgke udl ejepkrkobtrlg Gjhojnjrjv-]olrejv sktu skopbh (G-

    ]). Rdl ejepkrkobtrlg lel ilhkgugke uetug obopbrgukt udl ejrokhltks yken sbmkrk vlsukh

    gbhlcktke ejrokh pkik nrk`lg clstjnrko ike ejrokh prjakalhlty phjts. Rdl Gjhojnjrjv-

    ]olrejv abrtuduke uetug obenudl kpkgkc vkrlkabh ibpbeibe ike vkrlkabh leibpbeibe ikpkt

    tbrilstrlausl ejrokh. Ckslh pbebhltlke Gjhojnjrjv-]olrejv Ybst ikpkt ilhlckt pkik tkabh =.

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    Ykabh =. Gjhojnjrjv-]olrejv Ybst

    Jeb-]kophb Gjhojnjrjv-]olrejv Ybst

    Nrjwtc MQ YKY

    E =0 =0 =0

    Ejrokh Vkrkobtbrsk,,a Obke .=1>3 1.6960 ;.1=2=

    ]ti. Ibvlktlje .2>;60 ;.;==6> .93>90

    Ojst Bxtrbob Il``brbembs Kasjhutb .1;2 .1;< .111

    Vjsltlvb .1;2 .1;< .111

    Ebnktlvb -.;1= -.;03 -.;;=

    Gjhojnjrjv-]olrejv T ;.13< ;.=;= ;.==6

    Ksyop. ]ln. (1-tklhbi) .6>1 .60= .623

    k. Ybst ilstrlautlje ls Ejrokh.

    a. Mkhmuhktbi `rjo iktk.

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh Gjhojnjrjv-]olrejv yken ilskdlgke ikhko tkabh = ikpkt

    ilslopuhgke akcwk iktk pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke

    tkcue 16;;-16;= pkik ojibh tbrsbaut abrilstrlausl ejrokh. Ckh tbrsbaut ikpkt ilaugtlgke

    akcwk elhkl Ksyop. ]lnel`lgkesl pbrtuoaucke hkak sbabskr 6,6>1 hbalc abskr ikrl tlengkt

    slnel`lgkesl 6,627 elhkl Ksyop. ]lnel`lgkesl murrbet rktlj sbabskr 6,60= hbalc abskr ikrl

    tlengkt slnel`lgkesl 6,627 ike elhkl Ksyop. ]lnel`lgkesl tjtkh kssbts turejvbr sbabskr 6,623

    hbalc abskr ikrl tlengkt slnel`lgkesl 6,62, sbclennk iktk tbrsbaut (E?=0) obolhlgl ilstrlausl

    ejrokh.

    Rdl Kutjgjrbhksl

    Rdl kutjgjrbhksl abrtuduke uetug obenudl kpkgkc ikhko suktu ojibh rbnrbsl hlebkr

    abrnkeik tbrikpkt gjrbhksl ketkrk gbskhkcke pkik pbrljib t ibenke gbskhkcke pkik pbrljibt-;.

    Ckslh pbebhltlke udl Iurale-^ktsje ikpkt ilhlckt pkik tkabh 9.

    Ykabh 9. Iurale-^ktsje

    Ojibh

    Iurale-

    ^ktsje iH iR 9-iR 9-iH

    ; 1.036 ;.=29 ;.23> 1.9;= 1.090

    k. Vrbilmtjrs4 (Mjestket), HknZNrjwtc, MQ, YKY

    a. Ibpbeibet Pkrlkahb4 Nrjwtc

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

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    Abrikskrgke ckslh Iurale-^ktsje yken ilskdlgke ikhko tkabh 9 ikpkt ilslopuhgke

    akcwk iktk pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke tkcue 16;;-

    16;= pkik ojibh rbnrbsl hlebkr abrnkeik tbrikpkt kutjgjrbhksl. Ckh tbrsbaut ikpkt ilaugtlgke

    akcwk elhkl I^ 1,036 5 9-iH 1,090 sbclennk elhkl I^ 1,036 tbrikpkt kutjgjrbhksl ebnktl`.

    Retug obopbrgukt ckslh tbrsbaut ilnuekgke udl Que, il okek nkennuke kutjgjrbhksl tbrdkil

    dlgk slnel`lgkesl il akwkc 6,62. Ckslh pbebhltlke udl rue tbstikpkt ilhlckt pkik tkabh 2.

    Ykabh 2. RdlQue Ybst

    Ques Ybst

    Restkeikrilzbi

    Qbsliukh

    Ybst Pkhubk -.;==9=

    Mksbs 8 Ybst Pkhub ;3

    Mksbs 5? Ybst Pkhub ;3

    Yjtkh Mksbs =0

    Euoabr j` Ques ;>

    T -.26>

    Ksyop. ]ln. (1-tklhbi) .0;1

    k. Obilke

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh udl rue tbstyken ilskdlgke ikhko tkabh 2 ikpkt ilslopuhgke akcwk

    iktk pkik udl ejepkrbobtrlg tbrsbaut tlikg tbrdkil kutjgjrbhksl aklg kutjgjrbhksl pjsltl`

    okupue kutjgjrbhksl ebnktl`. Ckh tbrsbaut ilaugtlgke ibenke obhlckt elhkl Ksyop. ]ln. (1-

    tklhbi) sbabskr 6,0;1, elhkl tbrsbaut hbalc abskr ikrl elhkl slnel`lgkesl sbabskr 6,62 sbclennk

    ilslopuhgke akcwk iktk pkik pbruskckke okeu`kgtur sua sbgtjr okgkeke ike oleuoke pkik

    ojibh rbnrbsl tbrsbaut tlikg tbrdkil kutjgjrbhksl sbmkrk kmkg.

    Rdl Ouhtlgjhlebkrltks

    Rdl ouhtlgjhlebkrltks abrtuduke uetug obenudl kpkgkc ikhko suktu ojibh rbnrbsl hlebkr

    abrnkeik tbrdkil gjrbhksl yken tlennl ketkrk-ketkrk vkrlkabh-vkrlkabh leibpbeibe. Ckslh

    pbebhltlke udl ouhtlgjhlebkrltks ikpkt ilhlckt pkik tkabh 0.

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    Ykabh 0. Rdl Ouhtlgjhlebkrltks

    Ojibh

    Mjhhlebkrlty ]tktlstlms

    Yjhbrkemb PL@

    ; (Mjestket)

    MQ . ;.6=9

    YKY . ;.6=9

    k. Ibpbeibet Pkrlkahb4 Nrjwtc

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh mjhhlebkrlty stktlstlmsyken ilskdlgke ikhko tkabh 0 ikpkt ilslopuhgke

    akcwk iktk pkik ojibh tbrsbaut tlikg tbrdkil ouhtlgjhlebkrltks. Ckh lel ilgkrbekgke elhkl

    tjhbrkemb ikrl gbiuk vkrlkabh leibpbeibe abrkik il ktks 6,;6 ike elhkl Pkrlkemb Le`hktlje

    @kmtjr(PL@) krl gbiuk vkrlkabh leibpbeibe abrkik il akwkc elhkl ;6, sbclennk ilslopuhgke

    akcwk iktk pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke tkcue 16;;-

    16;= pkik ojibh rbnrbsl hlebkr abrnkeik tlikg tbrdkil ouhtlgjhlebkrltks.

    Rdl Cbtbrjsgbikstlsltks

    Rdl cbtbrjsgbikstlsltks abrtuduke uetug obenudl kpkgkc ikhko suktu ojibh rbnrbsl

    hlebkr abrnkeik tbrikpkt gbtlikgskokke vkrlkes ketkrk pbenkoktke yken sktu ibenke

    pbenkoktke yken hkleeyk. Ckslh pbebhltlke udl cbtbrjsgbikstlsltks ikpkt ilhlckt pkik nkoakr=.

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Nkoakr =. ]mkttbrphjt

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    Abrikskrgke ckslh pbenjhkcke ]V]] yken iltueduggke jhbc nkoakr = ikpkt

    ilslopuhgke akcwk iktk pbruskckke okeu`kgtur sua sbgtjr leiustrl okgkeke ike oleuoke

    tkcue 16;;-16;= pkik ojibh rbnrbsl hlebkr abrnkeik tlikg tbrdkil cbtbrjsgbikstlsltks. Ckh lel

    ilgkrbekgke iktk pkik ojibh tbrsbaut tlikg obolhlgl gbskokke vkrlkes ketkrk TVQBI

    ibenke ]QB]LI yken krtleyk iktk-iktk yken ilnuekgke ikhko ojibh rbnrbsl hlebkr abrnkeik

    obeybakr sbmkrk kmkg aklg gb krkc ktks okupue krkc akwkc ike tlikg abrkik il sktu tbopkt

    ikrl suoau \ sbrtk tlikg oboabetug pjhk tbrtbetu pkik nkoakr il ktks.

    Kekhlsls Qbnrbsl Hlebkr Abrnkeik

    Kekhlsls rbnrbsl hlebkr abrnkeik kikhkc suktu khkt kekhlsls pbrkokhke elhkl pbenkruc iuk

    vkrlkabh abaks ktku hbalc (leibpbeibe) tbrckikp vkrlkabh tbrlgkt (ibpbeibe). Pkrlkabh

    leibpbeibe ikhko pbebhltlke lel kikhkc murrbet rktlj ike tjtkh kssbts turejvbr sbrtk vkrlkabh

    ibpbeibe kikhkc pbrtuoaucke hkak. Ckslh pbebhltlke rbnrbsl hlebkr abrnkeik ikpkt

    iltueduggke pkik tkabh >.

    Ykabh >. Gjb`lslbe Qbnrbsl

    Mjb``lmlbetsk

    Ojibh

    Restkeikrilzbi Mjb``lmlbets

    ]tkeikrilzbi

    Mjb``lmlbets

    A ]ti. Brrjr Abtk

    ; (Mjestket) .909 .=2=

    MQ -.610 .63< -.621

    YKY -.60> .16> -.62>

    k. Ibpbeibet Pkrlkahb4 Nrjwtc

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh udl rbnrbsl hlebkr abrnkeik yken ilskdlgke ikhko tkabh > ikpkt

    ilpbrjhbc pbrskokke rbnrbsl hlebkr abrnkeik. Vbrskokke rbnrbsl tbrsbaut kikhkc sbaknklabrlgut4

    ? + + Quous 9.;

    ? 6,909 6,610 6,60>

    Gbtbrkenke4

    ? Gjestketk (mjestket)

    ;? Gjb`lslbe rbnrbsl ikrl S;

    1? Gjb`lslbe rbnrbsl ikrl S1S;? Murrbet Qktlj (MQ)

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    S1? Yjtkh Kssbts Yurejvbr(YKY)

    Ikrl pbrskokke rbnrbsl il ktks, okgk ilslopuhgke abrlgut lel4

    ;. Gjestketk () obolhlgl elhkl sbabskr 6,909 obeueduggke akcwk dlgk vkrlkabh murrbet

    rktlj (MQ) ike tjtkh kssbts turejvbr (YKY) abrelhkl gjestke ktku ejh, okgk vkrlkabh

    pbrtuoaucke hkak abrelhkl pjsltl`, ykltu sbabskr 6,909.

    1. Gjb`lslbe rbnrbsl murrbet rktlj abrelhkl ebnktl` (S;) ykltu -6,610. Gkrbek vkrlkabh

    murrbet rktlj abrelhkl ebnktl` okgk vkrlkabh murrbet rktlj tlikg ikpkt

    illetbrprbtkslgke. Ckh lel ilsbakagke gkrbek vkrlkabh leibpbeibe MQ sbmkrk slouhtke

    tlikg obolhlgl pbenkruc tbrckikp vkrlkabh pbrtuoaucke hkak.

    =. Gjb`lslbe rbnrbsl tjtkh kssbts turejvbr abrelhkl ebnktl` (S1) ykltu -6,60>. Gkrbek

    vkrlkabh tjtkh kssbts turejvbrabrelhkl ebnktl` okgk vkrlkabh tjtkh kssbts turejvbrtlikg

    ikpkt illetbrprbtkslgke. Ckh lel ilsbakagke gkrbek vkrlkabh leibpbeibe YKY sbmkrk

    slouhtke tlikg obolhlgl pbenkruc tbrckikp vkrlkabh pbrtuoaucke hkak.

    Vbenudlke Clpjtbsls

    Rdl Gjb`lslbe Ibtbroleksl

    Gjb`lslbe ibtbroleksl (Q1) ilnuekgke uetug obenudl sbabrkpk abskr pbrkeke vkrlkabh

    leibpbeibe sbmkrk slouhtke obopbenkrucl pbruakcke yken tbrdkil pkik vkrlkabh leibpbeibe.

    Ckslh pbebhltlke udl stktlstlg Q1yken iltueduggke pkik tkabh 3.

    Ykabh 3. Ojibh ]uookry

    Ojibh ]uookrya

    Ojibh Q Q ]qukrb

    Kidustbi Q

    ]qukrb

    ]ti. Brrjr j` tcb

    Bstloktb Iurale-^ktsje

    ; .6>6k .662 -.622 .2300> 1.036

    k. Vrbilmtjrs4 (Mjestket), YKY, MQ

    a. Ibpbeibet Pkrlkahb4 Nrjwtc

    ]uoabr4 Ckslh Vbenjhkcke ]V]] ;>.6

    Abrikskrgke ckslh ojibh suookry yken ilskdlgke ikhko tkabh 3 ikpkt ilhlckt elhkl

    gjb`lslbe ibtbroleksl (Kidustbi Q ]qukrb) sbabskr 6,622 ktku 2,2% ikrl vkrlkabh ibpbeibe

    ykltu pbrtuoaucke hkak ikpkt ildbhksgke ktku ilpbenkrucl jhbc vkrlkabh leibpbeibe (murrbet

    rktljike tjtkh kssbts tuejvbr) ike slskeyk sbabskr

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    Rdl @

    Rdl stktlstlg @ ilnuekgke uetug obenudl slnel`lgkesl pbenkruc murrebt rktljike tjtkh

    kssbts turejvbr tbrckikp pbrtuoaucke hkak sbmkrk slouhtke. Ckslh pbebhltlke udl stktlstlg @

    ikpkt ilhkgugke ibenke udl KEJPK yken iltueduggke pkik tkabh -.=1= .>9.6

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    Abrikskrgke ckslh udl t yken ilskdlgke pkik tkabh ;6 ikpkt ilgbtkcul akcwk murrbet rktlj

    obolhlgl elhkl tcltuensbabskr -6,1>6 okgk elhkl

    tcltuenhbalc gbmlh ikrl ttkabh. Elhkl tkrk` slnel`lgke lel hbalc abskr ikrl tlengkt slnel`lgkesl ykgel

    sbabskr 6,62 sbclennk Cj iltbrlok ike Ck iltjhkg, yken abrkrtl vkrlkabh murrbet rktljsbmkrk

    pkrslkh tlikg obolhlgl pbenkruc slnel`lgke ike ebnktl` tbrckikp pbrtuoaucke hkak. Vbenkruc

    vkrlkabh murrbet rktlj kikhkc ebnktl`, ilokek vkrlkabh murrbet rktlj yken tlennl mbeibruen

    obeklggke pbrtuoaucke hkak pbruskckke ike sbakhlgeyk murrbet rktlj yken rbeikc

    mbeibruen obeuruegke pbrtuoaucke hkak pbruskckke.

    Elhkl tcltuenuetug vkrlkabh tjtkh kssbts turejvbrkikhkc sbabskr -6,=1= ike ttkabh sbabskr

    1,6=921 ( sbabskr 6,626 ike ibnrbb j` `rbbijosbabskr e-g?=0-=? ==) ibenke tlengkt tkrk`

    slnel`lgke sbabskr 6,>9< okgk elhkl tcltuenhbalc gbmlh ikrl ttkabh. Elhkl tkrk` slnel`lgke lel hbalc

    abskr ikrl tlengkt slnel`lgkesl ykgel sbabskr 6,62 sbclennk Cj iltbrlok ike Ck iltjhkg, yken

    abrkrtl vkrlkabh tjtkh kssbts turejvbr sbmkrk pkrslkh tlikg obolhlgl pbenkruc slnel`lgke ike

    ebnktl` tbrckikp pbrtuoaucke hkak. Vbenkruc vkrlkabh tjtkh kssbts turejvbr kikhkc ebnktl`,

    ilokek vkrlkabh tjtkh kssbts turejvbryken tlennl mbeibruen hbalc b`bgtl` ikhko pbennuekke

    tjtkh ksbt abrikskrgke pbedukhke ike sbakhlgeyk tjtkh kssbts turejvbr yken rbeikc

    obeueduggke akcwk gurken b`bgtl` ikhko pbennuekke tjtkh ksbt abrikskrgke pbedukhke.

    Vbedukhke yken tlennl obeueduggke tbrikpkt pbenkruc tbrckikp pbeikpktke. Vbeikpktke

    yken tlennl mbeibruen obeklggke hkak pbruskckke ike sbakhlgeyk pbeikpktke yken rbeikc

    mbeibruen obeuruegke hkak pbruskckke.

    Vboakckske Ckslh Vbebhltlke

    Vbenkruc Murrbet Qktlj Ybrckikp Vbrtuoaucke Hkak

    Clpjtbsls pbrtkok yken ilkdugke pkik pbebhltlke lel kikhkc tbrikpkt pbenkruc murrbet

    rktlj tbrckikp pbrtuoaucke hkak. Murrbet rktlj obrupkgke rkslj yekn obenugur ksbt hkemkr

    yken ilolhlgl pbruskckke ikhko obobeucl hlkalhltks dkengk pbeibgeyk. Ikrl ckslh pbebhltlke

    lel ilpbrjhbc elhkl gjb`lslbe rbnrbsl uetug vkrlkabh murrbet rktlj sbabskr -6,610, elhkl tcltuen

    sbabskr -6,1>6, ilokek elhkl

    slnel`lgke lel hbalc abskr ikrl tlengkt slnel`lgkesl ykgel sbabskr 6,62. Ibenke ibolglke

    clpjtbsls pbrtkok yken obeyktkgke akcwk tbrikpkt pbenkruc murrbet rktlj tbrckikp

    pbrtuoaucke hkak tlikg ikpkt iltbrlok, yken abrkrtl vkrlkabh murrbet rktlj tlikg obolhlgl

    pbenkruc slnel`lgke tbrckikp pbrtuoaucke hkak.

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    Abrikskrgke augtl boplrls yken kik ike ckslh pbebhltlke yken ilpbrjhbc,

    obenleilgkslgke akcwk vkrlkabh murrbet rktlj tlikg obolhlgl pbenkruc yken slnel`lgke

    tbrckikp pbrtuoaucke hkak. Ckslh pbebhltlke lel skok ibenke ckslh pbebhltlke yken ilhkgugke

    jhbc ]krl ike ]uhlstykwktl (166, elhkl tcltuen sbabskr -6,=1= ike ttkabh sbabskr 1,6=921 ibenke elhkl slnel`lgke sbabskr

    6,>9

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    Ckek`l, Okoiuc O., ike Kaiuh Ckhlo. Kekhlsls Hkpjrke Gbukenke. Bilsl Gbtlnk.

    \jnykgkrtk4 ]YLB \GVE. 166>.

    Ckrkckp, ]j`yke ]yk`rl. Kekhlsls Grltls Ktks Hkpjrke Gbukenke. Dkgkrtk4 Qkdk Nrk`leij

    Vbrskik. 1669.

    Cbry.Kekhlsls Hkpjrke Gbukenke. Dkgkrtk4 Auol Kgskrk. 16;1.

    Duolenke.Kekhlsls Hkpjrke Gbukenke. Dkgkrtk4 VY. Auol Kgskrk. 1660.

    Gksolr.Kekhlsls Hkpjrke Gbukenke. Dkgkrtk4 Qkdkwkhl Vrbss. 16;;.

    Vrlckil, Yjtj.Ibtbgsl Mbpkt Gbukenke4 > Kekhlsls Qkslj Gbukenke. Dkgkrtk4 Vpo. 1663.

    Qkckrdkputrk, Cbeirk ].Augu Vkeiuke Vrkgtls7 Okekdbobe Gbukenke ike Kguetkesl, Retug

    Bgsbgutl` Vbruskckke. Dkgkrtk4 ]khboak Bopkt. 166.6 Ike Kphlgksl ]tktlstlg Vbebhltlke.

    Akeiuen4 Kh`kabtk. 16;;.

    ]khslykc, ]rl Okrckbel. Kekhlsls Vbenkruc ^jrglen Mkpltkh tj Yjtkh Kssbts Qktlj, Yjtkh

    Ibat tj Yjtkh Mkpltkh Kssbts, Yjtkh Kssbts Yurejvbr, Nrjss Vrj`lt Okrnle ike Ebt Vrj`lt

    Okrnle Ybrckikp Vbruakcke Hkak (]tuil Gksus Vkik Vbruskckke Okeu`kgtur yken

    Ybrik`tkr il ABL Vbrljib 1662-166). ]jhusl, 3(=). 166

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    ]uarkokeyko, G. Q. & Dcje D., ^lhi. Kekhlsls Hkpjrke Gbukenke (@lekemlkh ]tktbobet

    Kekhysls). Augu 1. Dkgkrtk4 ]khboak Bopkt. 16;6.

    ]unlykrsj, Nbrvkslus. Kguetkesl Gjpbrksl4 ]lsltbo, Obtjib, ike Kekhlsls Hkpjrke

    Gbukenke. \jnykgkrtk4 Mkps. 16;;.

    ]unlyjej.Obtjib Vbebhltlke Alsels. Akeiuen4 Kh`kabtk. 1663.

    ]unlyjej.Obtjib Vbebhltlke Guketltktl` Gukhltktl` Ike Q&I. Akeiuen4 Kh`kabtk. 16;1.

    ]ueyjtj, Ikeken.Kekhlsls Qbnrbsl ike Rdl Clpjtbsls. \jnykgkrtk4 Mkps. 16;;.

    ]ykosuile ike Mbgy Vrlokyutk. Qkslj Gbukenke ike Vrbilgsl Vbruakcke Hkak Vbruskckke

    Okeu`kgtur yken Ybrik`tkr il Aursk B`bg Leijebslk. Abeb`lt Durekh Okekdbobe ike

    Alsels, ;=(;)4 0;-0