Einfluss von Alltagsrassismus auf die Gesundheit von Menschen mit Migrationshintergrund Tatana Roncolato Donkor veröffentlicht unter den socialnet Materialien Publikationsdatum: 05.10.2015 URL: http://www.socialnet.de/materialien/26410.php 7DWMDQD5RQFRODWR'RQNRU (LQIOXVVYRQ$OOWDJVUDVVLVPXVDXIGLH *HVXQGKHLWYRQ0HQVFKHQPLW 0LJUDWLRQVKLQWHUJUXQG $EVWUDFW 'HUYRUOLHJHQGH$XIVDW]LVWHLQH=XVDPPHQIDVVXQJGHU JOHLFKQDPLJHQ%DFKHORUDUEHLWGLHLP-DKUPLWGHP ,+.:LVVHQVFKDIWVSUHLVSUlPLHUWZXUGH,QHLQHUTXDOLWD WLYHQ6WXGLHPLWWHOVOHLWIDGHQJHVWW]WHU([SHUWHQLQWHUYLHZV ZXUGHGHU(LQIOXVVYRQ$OOWDJVUDVVLVPXVDXIGLH*HVXQG KHLWYRQ0HQVFKHQPLW0LJUDWLRQVKLQWHUJUXQGXQWHUVXFKW 'DEHLZXUGHEHOHJWGDVVHUOHEWHU$OOWDJVUDVVLVPXVVR ZRKODXIGLHSV\FKLVFKHDOVDXFKDXIGLHSK\VLVFKH*H VXQGKHLW(LQIOXVVQHKPHQNDQQ=XQHQQHQVLQGKLHUEHL SV\FKLVFKH6W|UXQJHQZLHEHLVSLHOVZHLVH'HSUHVVLRQDEHU DXFKSK\VLVFKH%HHLQWUlFKWLJXQJHQZLHVFKZHUHV 6FKZDQJHUVFKDIWVHUEUHFKHQ'HUDUWLJH(UNUDQNXQJHQ ZHUGHQGXUFKHUOHEWH'LVNULPLQLHUXQJDOOHUGLQJVQXU GDQQDXVJHO|VWZHQQ]XVlW]OLFKH)DNWRUHQ]XVDPPHQ NRPPHQZLH]XP%HLVSLHOPDQJHOQGHV6HOEVWZHUWJHIKO RGHUIHKOHQGH%HZlOWLJXQJVVWUDWHJLHQ(V]HLJWVLFKGDVV LQGLYLGXHOOH.RPSHWHQ]HQIUGLH(UKDOWXQJGHU*HVXQG KHLWQRWZHQGLJVLQG /DXW6WDWLVWLVFKHP%XQGHVDPWOHEHQLQ GHU%XQGHVUHSXEOLN0LOOLRQHQ0HQVFKHQ PLW0LJUDWLRQVKLQWHUJUXQG'DEHLEHVWHKWGLH VHU%HY|ONHUXQJVDQWHLODXVGHQVHLWQDFK 'HXWVFKODQG=XJHZDQGHUWHQXQGGHUHQ1DFK NRPPHQYJOHEG0LWWOHUZHLOHVLQGHLQ'ULW WHODOOHU0HQVFKHQPLW0LJUDWLRQVKLQWHUJUXQG LQ'HXWVFKODQGJHERUHQXQGGLH0HKUKHLWPLW YHUIJWEHUHLQHQGHXWVFKHQ3DVVYJO HEG0HQVFKHQPLW0LJUDWLRQVKLQWHU JUXQGELOGHQHLQHVHKUKHWHURJHQH*UXSSHEH VWHKHQGDXVXQWHUVFKLHGOLFKHQ(LQZDQGHUXQJV PRWLYHQXQG+HUNXQIWVOlQGHUQ2VZDOG XQWHUWHLOWGLH=XZDQGHUXQJVPRWLYHLQ SXOO)DNWRUHQ|NRQRPLVFKJQVWLJH6LWXDWLRQ GLHIUHLQHEHVWLPPWH%HY|ONHUXQJVJUXSSH ]XJlQJOLFKJHPDFKWZHUGHQXQGLQSXVK)DN WRUHQZLH]XP%HLVSLHO%UJHUNULHJHRGHU1D WXUNDWDVWURSKHQ'DUEHUKLQDXVEHILQGHQZLU XQVLP=HLWDOWHUGHU0LJUDWLRQZHOFKHVYRQ *OREDOLVLHUXQJVSUR]HVVHQJHSUlJWLVW'D]XJH K|UHQSUHNlUH$UEHLWVEHGLQJXQJHQ$UPXW +XQJHU:LUWVFKDIWVNULVHQ.ULHJHXQG%UJHU NULHJH'DVMQJVWH(UHLJQLVLQGHU:HOWSROLWLN LQGHUHLQIULHGYROOHV=XVDPPHQOHEHQNDXP PHKUP|JOLFK]XVHLQVFKHLQWLVWGLHNULWLVFKH /DJHLQGHQDUDELVFKHQ/lQGHUQGHQQÄLP /DXIHGHV-DKUHVNDPHVLQQDKH]XDOOHQ QRUGDIULNDQLVFKHQDUDELVFKHQ6WDDWHQ]X3UR WHVWHQRGHUJDU0DVVHQGHPRQVWUDWLRQHQGLH VLFKLQVEHVRQGHUHJHJHQGLHDXWRULWlUJHIKUWHQ 5HJLPHVRZLHGLHSROLWLVFKHQXQGVR]LDOHQ 6WUXNWXUHQULFKWHWHQXQGDXFKKHXWHQRFKLQ XQWHUVFKLHGOLFKHP0DHDQGDXHUQ%XQGHV DPWIU0LJUDWLRQXQG)OFKWOLQJH$N WXHOO]lKOWGDV+HLGHOEHUJHU,QVWLWXWIU,QWHUQD WLRQDOH.RQIOLNWIRUVFKXQJZHOWZHLWJHZDOW YROOH$XVHLQDQGHUVHW]XQJHQGDYRQZXUGHQ DOV.ULHJHLQJHVWXIWGLHQRFKLPPHUIRUWGDX HUQ+LLN6RPLWLVWGLH=DKOGHU.ULHJH DXIGHPK|FKVWHQ6WDQGVHLWHEG'HU JHJHQZlUWLJH)DFKNUlIWHPDQJHOLQ'HXWVFK ODQGHUODXEWIUDXVJHZlKOWH%HUXIVJUXSSHQHL QHQEHJQVWLJWHQ=XJDQJIUDXVOlQGLVFKH )DFKNUlIWHLQGHQ$UEHLWVPDUNWZDVEHL 2VZDOGDOVSXOO)DNWRUIU0LJUDWLRQEHVFKULH EHQZLUG$QGLHVHU6WHOOHLVWIHVW]XKDOWHQGDVV 'HXWVFKODQGEHUHLWVVHLWGHQHU-DKUHQGH IDFWRHLQ(LQZDQGHUXQJVODQGLVWDXFKZHQQ GLHVH7DWVDFKHODQJHYHUOHXJQHWZXUGH'LH *UQGHIU0HQVFKHQQDFK'HXWVFKODQG]X HPLJULHUHQVLQGJHQDXVRPDQQLJIDOWLJZLHGLH +HUNXQIWVOlQGHUDXVGHQHQVLHVWDPPHQ'HU EHGHXWHQGH$QWHLOYRQ0HQVFKHQPLW0LJUDWL RQVKLQWHUJUXQGLQGHUGHXWVFKHQ*HVHOOVFKDIW ]HLJWGLH5HOHYDQ]IUGLH$XVHLQDQGHUVHW]XQJ PLWGHPJHVXQGKHLWOLFKHQ=XVWDQGGLHVHU%H Y|ONHUXQJVJUXSSH=XPDO0HQVFKHQPLW0LJ UDWLRQVKLQWHUJUXQGRIW=LHOVFKHLEHIUUDVVLV WLVFKPRWLYLHUWH*HZDOWDNWHVLQGXQG5HVVHQWL PHQWV)UHPGHQIHLQGOLFKNHLWXQG'LVNULPLQLH UXQJLP-DKUKXQGHUWQLFKWEHUZXQGHQ]X VHLQVFKHLQHQ,QGHQ0HGLHQZXUGHLP-DKU DXVIKUOLFKEHUGLH0RUGVHULHGHU =ZLFNDXHU1HRQD]LVEHULFKWHW'DEHLHUPRUGH WHQGLHYHUPHLQWOLFKHQ1HRQD]LV]HKQ-DKUH ODQJDXVOlQGLVFKH0LWEUJHU'LH0HGLHQEH ULFKWHUVWDWWXQJHUUHLFKWHLKUHQVNDQGDO|VHQ+| KHSXQNWDOVGLH9HUPXWXQJJHlXHUWZXUGH GHU9HUIDVVXQJVVFKXW]KDEHGDV1D]LWULRJH GHFNWYJO7RSFX'LHVH*HZDOWVHULH YHUN|USHUW]ZDUGLHH[WUHPVWH)RUPYRQ)UHP GHQKDVVLQ'HXWVFKODQGDOOHUGLQJVKDQGHOWHV VLFKKLHUEHLXPNHLQHQ(LQ]HOIDOO/DXWGHU %HUOLQHU%HUDWXQJVVWHOOH5HDFK2XWZXUGHQLP -DKU3HUVRQHQ2SIHUUDVVLVWLVFKHUR GHUGLVNULPLQLHUHQGHU*HZDOWYJO0LJUDWLRQV UDW%HUOLQ%UDQGHQEXUJ$OOHUGLQJV N|QQHQDXFKYHUEDOHXQGKHW]HULVFKHbXHUXQ JHQLKUH1DUEHQKLQWHUODVVHQ6RPDFKWH63' 3ROLWLNHU7KLOR6DUUD]LQLQVHLQHP%XFKNHLQHQ +HKODXVVHLQHQUDVVLVWLVFKHQ,GHRORJLHQ6G GHXWVFKH=HLWXQJ0HQVFKHQGLHQDFK 1 lXHUHP(UVFKHLQXQJVELOGQLFKWGHU0HKU KHLWVNXOWXUDQJHK|UHQZHUGHQQLFKWQXU7DJ IU7DJPLWRIIHQVLFKWOLFKHQUDVVLVWLVFKHQ%H PHUNXQJHQVRQGHUQDXFKPLWYHUVWHFNWHQ9RU XUWHLOHQVRJDUPLWSRVLWLYHU'LVNULPLQLHUXQJ NRQIURQWLHUW6RN|QQHQ$XVVDJHQZLHGX VSULFKVWDEHUJXWGHXWVFKRGHUGXELVW VFKZDU]DOVRNDQQVWGXEHVWLPPWJXWVLQJHQ %HLVSLHOHIUSRVLWLYHQ5DVVLVPXVVHLQ=XVlW] OLFKPVVHQ0HQVFKHQPLW0LJUDWLRQVKLQWHU JUXQGPLWVWUXNWXUHOOHQ'LVNULPLQLHUXQJVIRU PHQXPJHKHQZLHGHPHUVFKZHUWHQ=XJDQJ ]XP$UEHLWVXQG:RKQXQJVPDUNWRGHUDXFK GHPHUVFKZHUWHQ=XJDQJ]XK|KHUHQ%LOGXQJV DEVFKOVVHQ 5DVVHXQGNXOWXUHOOH'LIIHUHQ] 'LH.RQVWUXNWLRQGHU5DVVHXQGGLHGDUDXV HQWZLFNHOWHQELRORJLVFKHQ8QWHUVFKLHGH]ZL VFKHQ0HQVFKHQXQWHUVFKLHGOLFKHU.XOWXUHQ VLQGZLVVHQVFKDIWOLFKQLFKWKDOWEDU'LHVH 7KHVHZLUGLQHLQHU(UNOlUXQJGHU81(6&2 EHVWlWLJWGHQQÄGLHQHXHQZLVVHQVFKDIWOLFKHQ %HIXQGHVWW]HQQLFKWGLHIUKHUH$XIIDVVXQJ GDPHQVFKOLFKH3RSXODWLRQHQLQJHWUHQQWH ª5DVVHQ©ZLHª$IULNDQHU©ª(XUDVLHU©HLQ VFKOLHOLFKªHLQJHERUHQHU$PHULNDQHU©RGHU LUJHQGHLQHJU|HUH$Q]DKOYRQ8QWHUJUXSSHQ NODVVLIL]LHUWZHUGHQN|QQWHQ>«@'DUEHUKLQ DXVKDWGLH$QDO\VHYRQ*HQHQGLHLQYHU VFKLHGHQHQ9HUVLRQHQDXIWUHWHQJH]HLJWGD GLHJHQHWLVFKH9DULDWLRQ]ZLVFKHQGHQ,QGLYL GXHQLQQHUKDOEMHGHU*UXSSHJURLVWZlKUHQG LP9HUJOHLFKGD]XGLH9DULDWLRQ]ZLVFKHQGHQ *UXSSHQYHUKlOWQLVPlLJNOHLQLVW(VLVW OHLFKW]ZLVFKHQ0HQVFKHQDXVYHUVFKLHGHQHQ 7HLOHQGHU(UGH8QWHUVFKLHGHLQGHUlXHUHQ (UVFKHLQXQJ+DXWIDUEH0RUSKRORJLHGHV .|USHUVXQGGHV*HVLFKWV3LJPHQWLHUXQJHWF ]XHUNHQQHQDEHUGLH]XJUXQGHOLHJHQGHJHQHWL VFKH9DULDWLRQVHOEVWLVWYLHOZHQLJHUDXVJH SUlJW>«@(VJLEWNHLQHQZLVVHQVFKDIWOLFKHQ *UXQGGHQ%HJULIIª5DVVH©ZHLWHUKLQ]XYHU ZHQGHQ³81(6&28QWHUVFKLHGOLFK NHLWHQKLQVLFKWOLFK+DXW$XJHQRGHU+DDU IDUEHDEHUDXFKXQWHUVFKLHGOLFKH9HUKDOWHQV ZHLVHQRGHU*HZRKQKHLWHQVLQGDQ8PZHOWEH GLQJXQJHQXQGDQKLVWRULVFKJHZDFKVHQHQ hEHUOHEHQVVWUDWHJLHQYRU2UWJHNRSSHOW'LH ,GHRORJLHGHU5DVVHLVWVRPLWKLQIlOOLJ7URW] GHPLVW5DVVLVPXVXQGGLH9RUVWHOOXQJGDVVHV 5DVVHQJLEWLQGHUJHVDPWJHVHOOVFKDIWOLFKHQ :DKUQHKPXQJVSUD[LVQLFKWYHUVFKZXQGHQ *OHLFKHVJLOWIUGLH.RQVWUXNWLRQGHUNXOWXUHO OHQ'LIIHUHQ]HQ,PUDVVLVWLVFKHQ*HGDQNHQJXW DEHUDXFKLQGHUODQGOlXILJHQ0HLQXQJXQG 6SUDFKHLVW]XHUNHQQHQGDVVNXOWXUHOOH=X VFKUHLEXQJHQPLWHLQHPHQJHQ9HUVWlQGQLV YRQ.XOWXUHLQKHUJHKHQ,QGLHVHP=XVDPPHQ KDQJNRQVWDWLHUW0RRVPOOHUQGGDVVÄGLH %HVFKUHLEXQJYRQ.XOWXUHQEH]LHKXQJVZHLVH YRQ8QWHUVFKLHGHQ]ZLVFKHQGHQ.XOWXUHQ>@ XQYHUPHLGOLFKHLQNRQVWUXNWLYHU9RUJDQJ >LVW@³(LQYHUNU]WHV9HUVWlQGQLVYRQ.XOWXU EDVLHUWDXIHLQHUVWDWLVFKHQXQGKRPRJHQHQ 9RUVWHOOXQJÄZRQDFKMHGHU0HQVFK7UlJHU YRQ.XOWXULVWHEG/DXW0RRVPOOHULVW GLH%HQHQQXQJYRQNXOWXUHOOHU'LIIHUHQ]HLQ $NWGHU([NOXVLRQLQGHP0LJUDQW,QQHQXQWHU HLQHPNXOWXUHOOHQ'HFNPDQWHOGHU=XJDQJ]X 5HVVRXUFHQYHUZHLJHUWZLUGYJOHEG'HQQ YDLQ'HXWVFKODQGLVWGLH$QGHUVDUWLJNHLWHLQ ÄHUNOlUXQJVEHGUIWLJHU6RQGHUIDOO³GDÄLQHL QHPHWKQLVFKHQ1DWLRQDOVWDDWGDVNXOWXUHOOR GHUHWKQLVFK$QGHUHQLFKWDOV7HLOGHU1DWLRQ ZDKUJHQRPPHQZLUGVRQGHUQDOVHLQYRQDX HQGD]XJHNRPPHQHV)UHPGHVGHVVHQ+LHU VHLQHVVRPLW]XHUNOlUHQJLOW³HEG,P JHVHOOVFKDIWOLFKHQ'LVNXUVEHUNXOWXUHOOH'LI IHUHQ]EHVWHKWGLH*HIDKU0LQGHUKHLWHQDXV]X JUHQ]HQUDVVLVWLVFKH*UHQ]]LHKXQJHQ]XHU P|JOLFKHQXQG0DFKWYHUKlOWQLVVH]XYHUVFKOHL HUQYJOHEG=ZDUEHWRQHQ:LUWVFKDIW XQG3ROLWLNLP5DKPHQGHULQWHUNXOWXUHOOHQ gIIQXQJGLH9RUWHLOHNXOWXUHOOHU'LIIHUHQ]XQG SRLQWLHUHQGDVV9LHOIDOWGLH:HWWEHZHUEVIlKLJ NHLW'HXWVFKODQGVLPJOREDOHQ.RQWH[WYRUDQ WUHLEWYJOI$OOHUGLQJVZLUG9LHOIDOWDOV HLQHGHXWVFKH1RWZHQGLJNHLWJHVHKHQXQG QLFKWDOVHLQHGHXWVFKH5HDOLWlW.XOWXUHOOH'LI IHUHQ]OLHIHUWGHQ1lKUERGHQIUUDVVLVWLVFKH ,GHRORJLHQGLHVLFKLQGHU0RGHUQHQLFKWPHKU DXIDQGHUH5DVVHQVRQGHUQDXIDQGHUH.XO WXUHQEH]LHKHQVLHKHKLHU]X+XQWLQJWRQ 'DUXPLVWGDUDXI]XDFKWHQREGLH%HQHQQXQJ GHU$QGHUVDUWLJNHLWHLQHODWHQWH5DVVHQOHKUHLQ VLFK ELUJW XQG RE GLH 'LIIHUHQ]EHQHQQXQJHQ YLHOPHKU]XU,GHQWLWlWVVWlUNXQJGHU0HKUKHLWV JHVHOOVFKDIWIKUHQDOV]XU,QNOXVLRQEHQDFKWHL OLJWHU%HY|ONHUXQJVJUXSSHQ 'HILQLWLRQ$OOWDJVUDVVLVPXV :LHEHUHLWVEHVFKULHEHQHUIOOW5DVVLVPXVGLH )XQNWLRQ+HUUVFKDIWXQG3ULYLOHJLHQHLQHU EHUJHRUGQHWHQ*UXSSH]XOHJLWLPLHUHQYJO 0HPPL,P$OOWDJZLUGGDV=LHOGHU 9RUKHUUVFKDIWEHZXVVWXQGXQEHZXVVWDXIXQ 2 WHUVFKLHGOLFKH:HLVHDQJHVWUHEW'DVYHUGHXW OLFKWDXFKIROJHQGH'HILQLWLRQÄ'HU%HJULII $OOWDJVUDVVLVPXVNHQQ]HLFKQHWGLHDOOWlJOLFKHQ )RUPHQYRQ5DVVLVPHQGHU0HKUKHLWVJHVHOO VFKDIWGLHNHLQHVZHJVQXULQH[WUHPHURGHURI IHQHU:HLVHDXIWUHWHQVRQGHUQDXFKVXEWLOXQ DXIIlOOLJYHUGHFNWXQGODWHQWVHLQN|QQHQ 1LFKWLPPHUKDQGHOWHVVLFKGDEHLXPEH ZXVVWHXQGJHZROOWH3UR]HVVHXQGRIWJHKWHV XPHLQ9HUKDOWHQLQQHUKDOEEHVWLPPWHU6WUXN WXUHQGDVP|JOLFKHUZHLVHXQEHDEVLFKWLJWUDV VLVWLVFKH(IIHNWH]XU)ROJHKDEHQNDQQ$QJH K|ULJHGHU0HKUKHLWVJHVHOOVFKDIWLGHQWLIL]LHUHQ VXEWLOHUHRGHUXQJHZROOWH)RUPHQYRQ5DVVLV PXVKlXILJQLFKWDOV5DVVLVPXVYLHOPHKUHU VFKHLQHQVLHLKQHQDOVVHOEVWYHUVWlQGOLFKXQG ZHUGHQXQKLQWHUIUDJWKLQJHQRPPHQ/HL SUHFKW 5DVVLVWLVFKHV9HUKDOWHQZLUGRIWQLFKWDOVVRO FKHVHQWODUYW'DVEHVWlWLJW0HPPL LQGHPHUVFKUHLEWÄ9LHOH/HXWHUHGHQ XQGYHUKDOWHQVLFKZLH5DVVLVWHQIKOHQVLFK MHGRFKQLFKWJHWURIIHQZHQQPDQLKQHQGLHV YRUZLUIW5DVVLVPXVLVWIU6RZHEHQIDOOVHLQ YHUGUlQJWHVJHVHOOVFKDIWOLFKHV3KlQRPHQGHU 0HKUKHLWVJHVHOOVFKDIWGHQQÄXQWHU:HLHQLQ 'HXWVFKODQGLVWGLH0HLQXQJZHLWYHUEUHLWHW KLHU]XODQGHJlEHHVNHLQHQ5DVVLVPXVPHKU XQGZHQQGDQQPD[LPDODP5DQGHGHU*H VHOOVFKDIW'DVKl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lXILJHUPHKU5FNUXIHHUKDOWHQDOV %HZHUEXQJHQPLWWUNLVFKNOLQJHQGHP1DPHQ YJO.DDV0DQJHU'DEHLXQWHUVFKHL GHQVLFK.OHLQEHWULHEHYRQJU|HUHQ%HWULHEHQ GHQQ.DDVXQG0DQJHUEHWRQHQIROJHQGHV Ä)LUPVZLWKOHVVWKDQHPSOR\HHVJLYH'HQ QLVDQG7RELDVDERXWPRUHFDOOEDFNV WKDQ)DLWKDQG6HUNDQHEG)UGDV([SH ULPHQWZXUGHQEHUWDXVHQG%HZHUEXQJHQDQ 8QWHUQHKPHQYHUVFKLFNWGLHRIIHQH3UDNWLNDQ WHQVWHOOHQDXFKÄLQWHUQVKLSV³JHQDQQWLP :LUWVFKDIWVZHVHQ]XYHUJHEHQKDWWHQYJO HEG'DEHLZXUGHQDQMHGH6WHOOH]ZHL %HZHUEXQJHQJHULFKWHWZREHL/HLVWXQJHQXQG 6FKXOODXIEDKQLGHQWLVFKZDUHQXQGVLFKGLH %HZHUEXQJHQQXUDQKDQGGHU1DPHQXQWHU VFKLHGHQYJOHEG/DXW.DDVXQG0DQJHU VWHOOHQGLHVHÄLQWHUQVKLSV³HLQHQZLFKWLJHQ .DUULHUHVSUXQJGDUZHLO6WXGHQWHQQDFKHU IROJUHLFKHP$EVFKOXVVHLQHVÄLQWHUQVKLSV³EHV VHUH&KDQFHQDXIGHP$UEHLWVPDUNWKDEHQ YJOHEG,P8PNHKUVFKOXVVVWHOOWGLH 1LFKWWHLOQDKPHDQÄLQWHUQVKLSV³HLQH%HQDFK WHLOLJXQJGDUZHLOGHU=XJDQJ]XIHVWHQ6WHOOHQ HUVFKZHUWLVW'LH(UJHEQLVVHDXVGHPÄ'LVFUL PLQDWLRQ7HVWLQJ9HUIDKUHQ³EHOHJHQGLH8Q JOHLFKEHKDQGOXQJYRQWUNLVFKHQXQGGHXW VFKHQ%HZHUEHUQYJO3HXFNHU 'LH1LFKW$QHUNHQQXQJDXVOlQGLVFKHU%HUXIV XQG%LOGXQJVDEVFKOVVHVWHOOWHLQ]XVlW]OLFKHV 3UREOHPGDUZHOFKHV]X$UPXWIKUWGHQQ ÄNQDSSGHU]XJHZDQGHUWHQ$/*,,%H ]LHKHUKDEHQLP$XVODQGHLQHQ%HUXIVDE VFKOXVVHUZRUEHQGHULQ'HXWVFKODQGQLFKWDQ HUNDQQWZLUG'LHVH0HQVFKHQZHUGHQLQGHQ ,QIRUPDWLRQVV\VWHPHQGHU%XQGHVDJHQWXUIU $UEHLWDOV3HUVRQHQRKQHEHUXIOLFKHQ$E VFKOXVVJHIKUW'HU*UXQG'LHLP$XVODQG HUZRUEHQHQ%HUXIVTXDOLILNDWLRQHQN|QQHQYRQ GHUHQWVSUHFKHQGHQ6RIWZDUHQLFKWHUIDVVWZHU GHQGDVLHQLFKWGHUEHUXIVIDFKOLFKHQ6WUXNWX ULHUXQJGHVGHXWVFKHQ$UEHLWVPDUNWHVHQWVSUH FKHQ³0LJUDWLRQ,QIR(VVFKHLQWDOV RE'LVNULPLQLHUXQJVPHFKDQLVPHQDXIGHP$U EHLWVPDUNWDXIJUXQGYRQ6RIWZDUHSUREOHPHQ HQWVWHKHQ'LHVHIKUHQMHGRFK]XHLQHU%HHLQ WUlFKWLJXQJGHU8PVHW]XQJHLJHQHU/HEHQV ]LHOH'DEHLLVW]XEHDFKWHQGDVVLQGHU|IIHQW OLFKHQ:DKUQHKPXQJPHLVWYRUVFKQHOOJHUXU WHLOWZLUG6RHQWVWHKHQ%HKDXSWXQJHQZLH]XP %HLVSLHOGDVVVLFK0LJUDQW,QQHQZHJHQPDQ JHOQGHU$UEHLWVEHUHLWVFKDIWYRP6WDDWDXVKDO WHQODVVHQRGHUVLFKZHJHQPDQJHOQGHU,QWHJ UDWLRQVEHUHLWVFKDIWLVROLHUHQ(WKQLVFKHXQGVWD WLVWLVFKH'LVNULPLQLHUXQJDXIGHP$UEHLWV PDUNWZLUGEHLYLHOHQ'LVNXVVLRQHQDXHU$FKW JHODVVHQREZRKO$XVJUHQ]XQJVPHFKDQLVPHQ LQ6WXGLHQEHOHJWZHUGHQ(LQ*UXQGGDIU N|QQWHVHLQGDVVGLH$XIQDKPHJHVHOOVFKDIW 3 'LVNULPLQLHUXQJVIRUPHQWDEXLVLHUWZHLOÄ5DV VLVPXV³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lXIH RIWPDOV QLFKWULFKWLJYHUVWHKHQ(LQH6WXGLHXQWHUWUNL VFKHQXQGGHXWVFKHQ3DWLHQW,QQHQEHOHJWGDVV QXUGHUWUNLVFKHQ3DWLHQWLQQHQLKUH'LDJ QRVH ULFKWLJ DQJHEHQ NRQQWHQYJO HEG %HL GHXWVFKHQ 3DWLHQWLQQHQ NRQQWH GLHVHU (IIHNW QLFKWQDFKJHZLHVHQZHUGHQYJOHEG=XGHP VWHOOWGDVGHXWVFKH*HVXQGKHLWVYHUVWlQGQLVHLQH ZHLWHUH+UGHGDUZHLOLQYLHOHQDQGHUHQ/lQ GHUQ RIW HLQ JDQ]KHLWOLFKHV XQG UHOLJL|VHV .UDQNKHLWV XQG *HVXQGKHLWVYHUVWlQGQLV YR UDXVJHKW YJO HEG 6R NDQQ .UDQNKHLW EHLVSLHOVZHLVH DOV )ROJH YRQ %HVWUDIXQJ RGHU =DXEHUHLLQWHUSUHWLHUWZHUGHQ,QGHUZHVWOLFKHQ 0HGL]LQZLUGWUDGLWLRQHOO]ZLVFKHQ.|USHUXQG *HLVWJHWUHQQWZDVDXI5HQp'HVFDUWHV]XUFN ]XIKUHQLVW 'LHVH'LFKRWRPLHYRQ.|USHUXQG*HLVWILQGHW VLFKODQJVDPPLWQHXHQ*HVXQGKHLWVNRQ]HSWHQ NRQIURQWLHUWZLH]XP%HLVSLHOPLWGHPVDOXWR JHQHWLVFKHQ*HVXQGKHLWVYHUVWlQGQLVQDFK$QWR QRYVN\EHLGHPHLQSRVLWLYHV.RKlUHQ]JHIKO PLW GHQ GUHL .RPSRQHQWHQ +DQGKDEEDUNHLW 9HUVWHKEDUNHLWXQG6LQQKDIWLJNHLWGLH%DVLVIU HLQ $XIUHFKWHUKDOWHQ GHU HLJHQHQ *HVXQGKHLW ELOGHWVLHKHKLHU]X$QWRQRYVN\7URW] GHPLVWGLHSDWKRORJLVFKH6LFKWZHLVHEHL0HGL ]LQHUQLQ'HXWVFKODQGVHKUYHUEUHLWHWXQGGHV KDOE NDQQ HV ]X 0LVVYHUVWlQGQLVVHQ ]ZLVFKHQ 0LJUDQW,QQHQ XQG bU]W,QQHQ NRPPHQ ZDV ZLHGHUXP]X)HKOGLDJQRVHQXQG)HKOPHGLNDWL RQHQIKUHQNDQQYJOHEG)HUQHU]HLJW VLFK EHL 0LJUDQW,QQHQ HLQH XQWHUUHSUlVHQWLHUWH ,QDQVSUXFKQDKPH YRQ *HVXQGKHLWVGLHQVWHQ XQG OHLVWXQJHQ =XP %HLVSLHO EHVWHKW HLQH JH ULQJHUH 1XW]XQJ YRQ )UKHUNHQQXQJVXQWHUVX FKXQJHQ EHL .LQGHUQ PLW 0LJUDWLRQVKLQWHU JUXQGYJOHEG$XIGHUHLQHQ6HLWH OLHJW GLH %HJUQGXQJ KLHUIU GDVV Ä*HVXQG KHLWVI|UGHUXQJ XQG 3UlYHQWLRQ LQ YLHOHQ +HU NXQIWVOlQGHUQGHU0HQVFKHQPLW0LJUDWLRQVKLQ WHUJUXQG QLFKW >«@ YRQ KHUDXVUDJHQGHU %H GHXWXQ³VLQGHEG$XIGHUDQGHUHQ6HLWH YHUIJHQEHLVSLHOVZHLVHWUNLVFKVWlPPLJH%U JHU,QQHQ EHU ZHQLJ ,QIRUPDWLRQHQ EH]JOLFK 9RUVRUJHXQWHUVXFKXQJHQYJOHEG(LQH DQGHUH6WXGLHKDW]XGHPHUJHEHQGDVV)UDXHQ PLW0LJUDWLRQVKLQWHUJUXQGGRSSHOWVRRIWLKUHQ )UDXHQDU]WRGHULKUH)UDXHQlU]WLQZHFKVHOQDOV LP9HUJOHLFK]XGHXWVFKHQ)UDXHQZHLOVLHVLFK GLVNULPLQLHUWRGHUXQK|IOLFKXQGHUIROJVORVEH KDQGHOWIKOHQYJOHEG %H]JOLFK VR]LDOHU (LQULFKWXQJHQ GHU 6R]LDOHQ $UEHLW EHVFKUHLEW 5RPPHOVSDFKHU GDVV GLH PHLVWHQ 0LJUDQWHQ PLW %HK|UGHQ VFKOHFKWH(UIDKUXQJHQJHPDFKWKDEHQXQGGLHVH $QJVW ZLHGHUXP DXI VR]LDOH (LQULFKWXQJHQ EHUWUDJHQ =XGHP IKUW 5RPPHOVSDFKHU DXI GDVVVWUXNWXUHOOH=XJDQJVEDUULHUHQZLH*HEK UHQ ]% LQ GHU )DPLOLHQELOGXQJ :RKQRUW IHUQH .RPP6WUXNWXUHQ gIIQXQJV]HLWHQ GLH PLW GHU /HEHQVZLUNOLFKNHLW EHODVWHWHU 0LJUDQ WHQIDPLOLHQ NROOLGLHUHQ HUKHEOLFK +LQGHUQLVVH IU 0LJUDQW,QQHQ GDUVWHOOHQ N|QQHQHEG $XFK GLH UHOLJL|VH $XVULFKWXQJ YLHOHU :RKO IDKUWVYHUElQGH VWHOOW HLQH %DUULHUH GDU YJO HEG =XVDPPHQIDVVHQG OlVVW VLFK VDJHQ GDVV GDV *HVXQGKHLWVZHVHQ QRFK ]X ZHQLJ DXI 0HQ VFKHQ PLW 0LJUDWLRQVKLQWHUJUXQG DXVJHULFKWHW LVW 'LH )RUGHUXQJ QDFK LQWHUNXOWXUHOOHU gII QXQJ LP *HVXQGKHLWVEHUHLFK ZLUG LPPHU JU| HU 0HQVFKHQ PLW 0LJUDWLRQVKLQWHUJUXQG HU IDKUHQ%HQDFKWHLOLJXQJGXUFKIHKOHQGH.HQQW QLVVH GLH DXI VSUDFKOLFKH %DUULHUHQ ]XUFN ]X IKUHQVLQGDEHUDXFKGXUFKIHKOHQGHNXOWXUHOOH .RPSHWHQ]HQDXIGHU6HLWHYRQ3URIHVVLRQHOOHQ )U HLQH JXWH 3DWLHQWHQEH]LHKXQJ LVW HV HUIRU GHUOLFKGDVVVLFKbU]W,QQHQLQWHUNXOWXUHOOH*H VXQGKHLWVNRQ]HSWHDQHLJQHQXPGLHEHVWH%H KDQGOXQJIU3DWLHQWHQEHUHLWVWHOOHQ]XN|QQHQ XQGXPHLQHQ=XJDQJ]XLKUHQ3DWLHQW,QQHQDXV DQGHUHQ +HUNXQIWVOlQGHU ]X EHNRPPHQ 'LH IHKOHQGH%HUHLWVWHOOXQJYRQ,QIRPDWHULDOLQDQ GHUHQ 6SUDFKHQ XQG GLH IHKOHQGH %HUHLWVFKDIW DXI0HQVFKHQPLWDQGHUHQ*HVXQGKHLWVYRUVWHO OXQJHQHLQ]XJHKHQNDQQDOVHLQGLVNULPLQLHUHQ GHU$NWYHUVWDQGHQZHUGHQZHLO0HQVFKHQPLW 0LJUDWLRQVKLQWHUJUXQG DXI GLHVH :HLVH YRP 4 *HVXQGKHLWVZHVHQ DXVJHJUHQ]W ZHUGHQ 6R NRPPW DXFK 5RPPHOVSDFKHU ]X GHP 6FKOXVV GDVVGLHÄ0lFKWLJHQLQGHU.RPPXQLNDWLRQGLH PLWLQVWLWXWLRQHOOHQ0DFKWPLWWHOQXQGEHUOHJH QHP ([SHUWHQZLVVHQ DXVJHVWDWWHWHQ 3URIHVVLR QHOOHQHLQHEHVRQGHUH9HUDQWZRUWXQJ>WUDJHQ@ HEG 'LVNULPLQLHUXQJ LQ GHU 6FKXOH DXI GHP $U EHLWVPDUNW DEHU DXFK GHU HUVFKZHUWH =XJDQJ ]XP *HVXQGKHLWVZHVHQ 'LH UHFKWOLFKH 6LWXD WLRQYRQ$V\OEHZHUEHU,QQHQVWHOOWHLQH([WUHP EHODVWXQJGDUGHUHQ$XVZLUNXQJHQDXIGLH*H VXQGKHLW LQ 6WXGLHQ QRFK HUIRUVFKW ZHUGHQ PXVV 5DVVLVPXVDOV7UDXPD 'LHTXDOLWDWLYH(PSLULHEHVWlWLJWGLH(UJHE QLVVHTXDQWLWDWLYHU)RUVFKXQJHQXQGKLOIWEHL GHU.RQNUHWLVLHUXQJGHU$XVZLUNXQJHQ'HQQ LQTXDQWLWDWLYHQ8QWHUVXFKXQJHQNRQQWH]ZDU GHU(LQIOXVVZDKUJHQRPPHQHU'LVNULPLQLH UXQJDXIGLHN|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|UGHQEHJUQGHW (LQH UHODWLY QHXH QLFKW JDQ] XQXPVWULWWHQH 7KHVHLVWGDVV5DVVLVPXVDOV7UDXPDHUIDKUXQJ HLQJHVWXIWZHUGHQNDQQ'LH3V\FKRORJLQ*UDGD .LORPEDEHVFKlIWLJWVLFKLQLKUHP7H[WÄ'DV1 :RUWPLW$XVZLUNXQJHQGLHGDV:RUW1HJHU DXI VFKZDU]H 0HQVFKHQ XQG 3HRSOH RI &RORU KDW'DEHLNRQVWDWLHUW.LORPEDGDVVLQGHU3V\ FKRDQDO\VH7UDXPDDOVHLQJHZDOWWlWLJHU6FKRFN YHUVWDQGHQ ZLUG GHU SO|W]OLFK GLH %H]LHKXQJ PLW$QGHUHQXQGPLWGHU*HVHOOVFKDIWHUVFKW WHUW XQG 1DUEHQ LQ )RUP YRQ $OSWUlXPHQ )ODVKEDFNVXQGN|USHUOLFKH$XVZLUNXQJHQPLW VLFK]LHKHQNDQQYJO.LORPED.L ORPED YHUGHXWOLFKW GDVV HV VLFK EHL GHP 1 :RUWQLFKWQXUXPHLQ:RUWGHU%HVFKLPSIXQJ KDQGHOWVRQGHUQXPHLQ:RUWZHOFKHVVLFKDXI KLVWRULVFKHUXQGNROORQLDOHU(EHQHEHZHJWXQG VRPLWGDV7UDXPDGHV.ROORQLDOLVPXVGHU6NOD YHUHLXQG8QWHUGUFNXQJKHUYRUUXIWYJOHEG $XVGLHVHP*UXQGPVVHQ3HRSOHRI&RORU VRZRKODXIGLH*HJHQZDUWDOVDXFKDXIGLH9HU JDQJHQKHLWUHDJLHUHQ1LYHGLWD3UDVDG KDW VLFK PLW .LORPEDV 7KHVHQ EHVFKlIWLJW VWLPPWLKU]XXQGNRPPW]XGHP6FKOXVVGDVV Ä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bU] W,QQHQ JHIKUW 'DV 'DWHQPDWHULDO ZXUGH PLW GHU *URXQGHG 7KHRU\ 0HWKRGH DXVJHZHUWHW 9HUJOHLFKHQGVWHOOHQDOOH([SHUW,QQHQIHVWGDVV $OOWDJVUDVVLVPXV HLQH HQRUPH %HODVWXQJ GDU VWHOOWZHOFKHSV\FKLVFKHXQGSV\FKRVRPDWLVFKH $XVZLUNXQJHQKDEHQNDQQ=XGHQYRQ0LJUDQ W,QQHQ HUOHEWHQ $OOWDJVEHODVWXQJHQ JHK|UW GLH 'HU*HVXQGKHLWV]XVWDQGKDWLQVJHVDPWJH]HLJW GDVV0HQVFKHQPLW0LJUDWLRQVKLQWHUJUXQGKlX ILJLQlU]WOLFKHQ3UD[HQDQ]XWUHIIHQVLQG'DEHL VSLHOHQPHKUHUH)DNWRUHQIUGLH(QWVWHKXQJ YRQ.UDQNKHLWHLQH5ROOHZLH]%GDV8PIHOG RGHUGLH/HEHQVVLWXDWLRQ,QIROJHGHVVHQHUJH EHQVLFKVRZRKOhEHUHLQVWLPPXQJHQDOVDXFK $EZHLFKXQJHQPLWGHPKLHVLJHQ)RUVFKXQJV VWDQGhEHUHLQVWLPPHQGLVWGDVVGLH(UJHE QLVVHGHUHPSLULVFKHQ6WXGLHPLWGHQ(UJHEQLV VHQTXDQWLWDWLYHU6WXGLHQEHUHLQVWLPPHQ ZHQQHVGDUXPJHKWGDVV$OOWDJVUDVVLVPXV (LQIOXVVDXIGLH*HVXQGKHLWKDEHQNDQQ'DEHL LVWGDV*HVXQGKHLWVULVLNREHVRQGHUVGDQQJH IlKUGHWZHQQQHEHQ'LVNULPLQLHUXQJVHUIDK UXQJHQIROJHQGH)DNWRUHQDXIHLQDQGHUWUHIIHQ 0HQVFKHQPLW0LJUDWLRQVKLQWHUJUXQGEHILQGHQ VLFKLQNULWLVFKHQXQGXQJQVWLJHQ/HEHQVVLWX DWLRQHQYHUIJHQEHUZHQLJ5HVVRXUFHQXQG %HZlOWLJXQJVVWUDWHJLHQRGHUJHK|UHQGHU *UXSSHGHUZHQLJHUDNNXOWXULHUWHQ0HQVFKHQ DQ'HU*HQGHUDVSHNWZXUGHLQPHLQHU$UEHLW QLFKWJHVRQGHUWEHWUDFKWHWWURW]GHPZXUGHGHQ ZHQLJHUDNNXOWXULHUWHQ)UDXHQ]XJHVSURFKHQ KlXILJHUYRQ'LVNULPLQLHUXQJVHUIDKUXQJHQEH WURIIHQ]XVHLQDOVDQGHUH0LJUDQW,QQHQ$E ZHLFKHQG]XU(PSLULHNRPPHQTXDQWLWDWLYH 5 6WXGLHQMHGRFK]XGHP5HVXOWDWGDVVVLFKEH VRQGHUV0lQQHUPLW0LJUDWLRQVKLQWHUJUXQGEH QDFKWHLOLJWXQGDXVJHJUHQ]WIKOHQ'LHVHU 3XQNWPXVVQlKHUGXUFKOHXFKWHWZHUGHQ )D]LW $OOJHPHLQLVWIHVW]XVWHOOHQGDVVHV]XU)RU VFKXQJVIUDJHZHQLJ6WXGLHQHUJHEQLVVHLQ 'HXWVFKODQGJLEWGHQQLQGHU/LWHUDWXUZHUGHQ PHLVW*HVXQGKHLWXQG0LJUDWLRQEHKDQGHOW 8QWHUVXFKXQJHQLP+LQEOLFNDXI$XVZLUNXQ JHQYRQ$OOWDJVUDVVLVPXVDXIGLH*HVXQGKHLW EOHLEHQKl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lQRPHQUHFKWVH[WUHPHU=HOOHQ DEHUQLFKWDOV3UREOHPZHOFKHVVLFKLPDOOWlJ OLFKHQ]ZLVFKHQPHQVFKOLFKHQ+DQGHOQRIIHQ EDUWHLQJHVWXIWZLUG'DVHQWVSULFKWQLFKWGHU :LUNOLFKNHLW$XVGLHVHP*UXQGZLUGGLH)RU GHUXQJDQGLH3ROLWLNJHVWHOOWGLHVHV 7DEXWKHPDDXI]XEUHFKHQXQG]XWKHPDWLVLHUHQ 'DVVHOEHJLOWIUGLHPHGLDOH%HULFKWHUVWDWWXQJ GHQQGLH6WXGLHQHUJHEQLVVHNRPPHQ]XGHP NULWLVFKHQ6FKOXVVGDVVSUHNlUH/HEHQVVLWXDWL RQHQLQ9HUELQGXQJPLW'LVNULPLQLHUXQJVHU IDKUXQJHQ]XYHUVFKLHGHQHQ(UNUDQNXQJIK UHQN|QQHQ'DEHLVLQGGLVNULPLQLHUHQGH3UDN WLNHQQLFKWQXU*HVXQGKHLWVJHIl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lJH]X5DVVLVPXVIRUVFKXQJXQG5DVVLV PXVSUlYHQWLRQ2OGHQEXUJKWWSZZZVWDIIXQLROGHQ EXUJGHUXGROIOHLSUHFKWGRZQORDG/HLS5DVVLVP-XJHQG 1HXSGI>XP@ 0HPPL$OEUHFKW5DVVLVPXV+DPEXUJ 0LJUDWLRQ,QIR'HXWVFKODQG6WXGLH]X$XVZLU NXQJHQGHU1LFKWDQHUNHQQXQJDXVOlQGLVFKHU$EVFKOVVH KWWSZZZPLJUDWLRQLQIRGHPXEBDUWL NHOSKS",G >XP@ 0LJUDWLRQVUDW%HUOLQ%UDQGHQEXUJ KWWSZZZPLJUDWLRQVUDWGHLQGH[SKS"RSWLRQ FRPBFRQ WHQWYLHZ DUWLFOHLG QDFKZLHYRULVWUDVVLVPXV GDVKDHXILJVWHWDWPRWLYFDWLG GLVNULPLQLH UXQJ,WHPLG XP8KU 0RRVPOOHU$ORLVQG.XOWXUHOOH'LIIHUHQ]'LV NXUVHXQG.RQWH[WHZZZLNNXQLPXHQFKHQGHGRZQ ORDGPELNNBPRRVPXHOOHUSGI>XP8KU@ 1RDK6RZ5DVVLVPXVXQG.RORQLDOLVPXVLQ $UQGW6XVDQ2IXDWH\$OD]DUG1DGMD:LH5DVVLVPXV DXV:|UWHUQVSULFKW.(UEHQGHV.RORQLDOLVPXVLP:LV VHQVDUFKLYGHXWVFKH6SUDFKH(LQNULWLVFKHV1DFKVFKODJH ZHUN0QVWHU6 2VZDOG,QJULG1HXH0LJUDWLRQVPXVWHU)OXFKW DXVRGHULQhEHUIOVVLJNHLWLQ%XGH+HLQ]:LOOLVFK $QGUHDV+UVJ'DV3UREOHPGHU([NOXVLRQ$XVJH JUHQ]WH(QWEHKUOLFKHhEHUIOVVLJH+DPEXUJ6 6 3UDVDG1LYHGLWD*HZDOWXQG5DVVLVPXVDOV5L VLNRIDNWRUHQIUGLH*HVXQGKHLWYRQ0LJUDQW,QQHQLQ +HLQULFK%|OO6WLIWXQJ'266,(50LJUDWLRQ*HVXQG KHLW6 3HXFNHU0DULR$UEHLWVPDUNWGLVNULPLQLHUXQJ YRQ0LJUDQW,QQHQ=ZLVFKHQVWUXNWXUHOOHQ%DUULHUHQXQG LQWHUSHUVRQHOOHU$XVJUHQ]XQJLQ+HLQULFK%|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g]OHP1XUHLQ7UNH"LQ'LH=HLW1U 81(6&2(UNOlUXQJJHJHQGHQ5DVVH%HJULII KWWSXQVHUHGHUDVVHEHJULIIXQHVFRKWP>XP 8KU@ 7
© Copyright 2024 ExpyDoc