(PHUJLQJ$UHDRI$JLQJ5HVHDUFK

/RQJ/LYHG$QLPDOVZLWK³1HJOLJLEOH6HQHVFHQFH´
-2+1&*8(5,1
&HQWHQDULDQ6SHFLHVDQG5RFNILVK3URMHFW3RUWODQG2UHJRQ86$

$%675$&7 )LHOGREVHUYDWLRQVKDYHVXJJHVWHGIRUTXLWHVRPHWLPHWKDWFHUWDLQ
ILVKWXUWOHVDQGLQYHUWHEUDWHVKDYHH[WUHPHO\ORQJPD[LPXPOLIHVSDQSRWHQ
WLDO $JH YDOLGDWLRQ WHFKQLTXHV KDYH VLQFH FRQILUPHG WKHVH REVHUYDWLRQV EXW
VFLHQWLILF DQDO\VLV WR XQGHUVWDQG WKH JHQHWLF DQG ELRFKHPLFDO EDVLV RI WKLV
ORQJHYLW\KDVRFFXUUHGRQO\UHFHQWO\7KH&HQWHQDULDQ6SHFLHVDQG5RFNILVK
3URMHFW QRZ HQFRPSDVVHV  SLORW UHVHDUFK SURMHFWV LQFOXGLQJ VXFK GLYHUVH
LQYHVWLJDWLRQV DV KLVWRORJ\ D F'1$ OLEUDU\ DQG PLWRFKRQGULDO PXWDWLRQ
DQDO\VLV,QWKLVGRFXPHQWWKHWHUP³QHJOLJLEOHVHQHVFHQFH´LVGHILQHGDQGLWV
EDFNJURXQG LV JLYHQ DJH YDOLGDWLRQ WHFKQLTXHV DUH OLVWHG DQG WKH YDULRXV
SURMHFWVWRGDWHLQFOXGLQJUHVHDUFKUHVXOWVDUHVXPPDUL]HG

.(<:25'6 FHQWHQDULDQORQJOLYHGDQLPDOVQHJOLJLEOHVHQHVFHQFH

$JLQJUHVHDUFKKDVDGYDQFHGGUDPDWLFDOO\LQWKHODVWVHYHUDO\HDUVZLWKPXFKQHZ
LQIRUPDWLRQDYDLODEOHRQELRFKHPLFDODQGJHQHWLFFRPSRQHQWVRIDJLQJ+RZHYHU
FXULRXVO\RQHSRWHQWLDODUHDRIVWXG\IRUDJLQJUHVHDUFKLGHQWLILHGDWOHDVW\HDUV
DJRKDVQRWDGYDQFHGXQWLOUHFHQWO\WKHDQDO\VLVRIORQJOLYHGDQLPDOV,QWKHV
LW ZDV SURSRVHG WKDW VRPH ILVK GR QRW VKRZ VLJQV RI VHQHVFHQFH (YHQ WKRXJK
ELRORJLFDOWRROVVXFKDVKLVWRORJ\H[LVWHGDWWKDWWLPHQRNQRZQHIIRUWVZHUHPDGH
WRH[DPLQHWKHVHDQLPDOV
7KH&HQWHQDULDQ6SHFLHVDQG5RFNILVK3URMHFWZDVIRXQGHGLQWRXQFRYHU
WKHPHFKDQLVPVWKDWDSSHDUWRUHWDUGDJLQJLQYHU\ORQJOLYHGDQLPDOVVXFKDVURFN
ILVKWXUWOHVDQGZKDOHV7KLVQHZDUHDRIVWXG\LQELRPHGLFDOJHURQWRORJ\KDVWKH
SRWHQWLDOWRUHYHDOWKHJHQHWLFDQGELRFKHPLFDOSURFHVVHVLQYROYHGLQVORZDJLQJWKDW
WKHQFRXOGEHDSSOLHGIRUKXPDQEHQHILW7KHSURMHFWQRZLQFRUSRUDWHVOLQHVRI
UHVHDUFK DW VHYHUDO XQLYHUVLWLHV DQG ODERUDWRULHV LQ WKH 8QLWHG 6WDWHV DQG (XURSH
$OWKRXJK URFNILVK JHQXV 6HEDVWHV  KDYH EHHQ WKH IRFXV WR GDWH ELRFKHPLFDO
SURILOLQJRIWXUWOHEORRGVHUXPKDVVWDUWHGUHFHQWO\ VHHWKHWXUWOHSLORWVWXG\EHORZ 
DQGZKDOHVDUHXQGHUFRQVLGHUDWLRQ/HRQDUG+D\IOLFNGLVFRYHUHURIWKH³+D\IOLFN
OLPLW´RIFHOOXODUVHQHVFHQFHDQGDQDGYLVRUWRWKLVSURMHFWVWDWHV³*XHULQ¶VSURMHFW
LVQRWRQO\XQLTXHEXWSUREHVDQDUHDRIDOPRVWWRWDOQHJOHFWLQELRJHURQWRORJ\\HW
DQDUHDZLWKPRUHSURPLVHWRGHOLYHUYDOXDEOHGDWDWKDQSHUKDSVDQ\RWKHU´

$GGUHVV IRU FRUUHVSRQGHQFH -RKQ & *XHULQ 'LUHFWRU &HQWHQDULDQ 6SHFLHV DQG 5RFNILVK
3URMHFW1(6DQG\%RXOHYDUG3RUWODQG259RLFH
MJXHULQ#DJHOHVVDQLPDOVRUJ

$QQ1<$FDG6FL±  ‹1HZ<RUN$FDGHP\RI6FLHQFHV


*8(5,1(0(5*,1*$5($2)$*,1*5(6($5&+ 

%$&.*5281'211(*/,*,%/(6(1(6&(1&(

&DOHE )LQFK DW 86& FRLQHG WKH WHUP ³QHJOLJLEOH VHQHVFHQFH´ WR GHVFULEH YHU\
VORZRUQHJOLJLEOHDJLQJ+HOLVWHGVHYHUDODQLPDOVH[KLELWLQJLWLQFOXGLQJURFNILVK
VWXUJHRQWXUWOHVELYDOYHVDQGSRVVLEO\OREVWHUV/DWHULQDQDUWLFOHIURPWKHILUVW
6\PSRVLXPRQ2UJDQLVPVZLWK6ORZ$JLQJ ZKLFKWKH'LUHFWRURIWKLVSURMHFWDOVR
VSRNHDW )LQFKIXUWKHUGHVFULEHGFULWHULDWRWHVWWKHRFFXUUHQFHRIQHJOLJLEOHDJLQJ
7KHVHLQFOXGHQRREVHUYDEOHDJHUHODWHGLQFUHDVHLQPRUWDOLW\UDWHRUGHFUHDVHLQUHSUR
GXFWLRQUDWHDIWHUPDWXULW\DQGQRREVHUYDEOHDJHUHODWHGGHFOLQHLQSK\VLRORJLFDO
FDSDFLW\RUGLVHDVHUHVLVWDQFH
$FFXUDWH DJH GHWHUPLQDWLRQ LV LPSRUWDQW LQ VWXG\LQJ ORQJOLYHG DQLPDOV ,Q
WXUWOHV GHWHUPLQDWLRQ RI PLQLPXP DJH LV UHODWLYHO\ VWUDLJKWIRUZDUG ZLWK WDJ DQG
UHFDSWXUHPHWKRGV,QGHHSZDWHUILVKWKHPRVWFRPPRQWHFKQLTXHLVJURZWK]RQH
DQDO\VLV RI WKH RWROLWK RU HDU ERQH 7ZR UHFHQW LQWHUQDWLRQDO V\PSRVLD KDYH
IRFXVHGHQWLUHO\RQWKHLPSRUWDQFHRIRWROLWKVLQILVKOLIHKLVWRU\VWXGLHV$QRWKHU
WHFKQLTXHXVHGE\ILVKHULHVPDQDJHPHQWWRSURYLGHDQLQGHSHQGHQWDJHHVWLPDWHLV
WKHUDGLRPHWULFDSSURDFKZKLFKXVHVDNQRZQUDGLRDFWLYHGHFD\VHULHVLQWKHFRUH
RIERQHV5HFHQWUHVHDUFKWKDWVKRZHGZKDOHVFDQOLYHRYHU\HDUVDQGSRVVLEO\
RYHU\HDUVXVHGDVSDUWLFDFLGUDFHPL]DWLRQ
=RRVDOVRKDYHFRPSLOHGORQJHYLW\LQIRUPDWLRQ$OOLJDWRUVKDYHEHHQUHFRUGHGXS
WR\HDUVRIDJHDOWKRXJKLWLVXQFHUWDLQLIGHDWKZDVFDXVHGE\VHQHVFHQFHRUHQ
YLURQPHQWDO IDFWRUV /RQJHYLW\ RI 5HSWLOHV DQG $PSKLELDQV LQ 1RUWK $PHULFDQ
&ROOHFWLRQV  DQG SHUVRQDO FRPPXQLFDWLRQ ZLWK WKH &LQFLQQDWL =RR  
*UHHQVHDWXUWOHVKDYHEHHQHVWLPDWHGWRWDNHXSWRDPD[LPXPRI\HDUVWRUHDFK
PDWXULW\ LQ WKH ZLOG EHFDXVH RI WKHLU ORZSURWHLQ GLHW 'HOD\HG UHSURGXFWLRQ
XVXDOO\LVDVVRFLDWHGZLWKDYHU\VORZUDWHRIDJLQJ$LVVXHRI*HURQWRORJ\ZDV
GHYRWHGWRDJLQJLQFROGEORRGHGYHUWHEUDWHVLWFRPSLOHGUHVHDUFKVKRZLQJWKDWHYHQ
WKRXJKVRPHILVKDUHORQJOLYHGPDQ\DUHVKRUWOLYHGDQGKDYHVHQHVFHQFHVLPLODU
WRWKDWVHHQLQPDPPDOV
0DQ\ RI WKH DQLPDOV PHQWLRQHG DERYH ZHUH FRQVLGHUHG IRU WKH EHVW PRGHO WR
VWXG\QHJOLJLEOHVHQHVFHQFHDQGURFNILVKEHFDPHWKHILUVWUHVHDUFKHIIRUWLQ
7KH$ODVND)LVKDQG*DPHSURYLGHGGDWDRQUDQGRPO\VDPSOHG<HOORZH\HURFNILVK
IURP FRPPHUFLDOO\ FDXJKW ILVK RII RI 6LWND $ODVND 7KH FKDUWV WKH\ SURYLGHG
VKRZHGWKDWRIWKHILVKJRLQJWRSHRSOH¶VGLQQHUWDEOHVZHUH\HDUVRIDJHRU
ROGHUZLWKVHYHUDORYHU\HDUVROG
-XVW UHFHQWO\ WKH SURMHFW¶V ILVK HFRORJLVW *UHJRU 0 &DLOOLHW GHWHUPLQHG WKDW
URFNILVKKDYHERWKVKRUWOLYHGDQGORQJOLYHGPHPEHUVLQWKHVDPHJHQXV 7KH\
UDQJHIURP\HDUVIRUWKHFDOLFRURFNILVKWR\HDUVIRUWKHURXJKH\HURFNILVK
)XWXUHVWXGLHVRQWKHSURMHFWZLOOFRPSDUHJHQHWLFDQGELRFKHPLFDOPHDVXUHPHQWV
EHWZHHQVKRUWOLYHGDQGORQJOLYHGURFNILVK

5()(5(1&(6

 %,''(5*36HQHVFHQFH%U0HG-±
 ),1&+ &(  /RQJHYLW\ 6HQHVFHQFH DQG WKH *HQRPH 8QLYHUVLW\ RI &KLFDJR
3UHVV&KLFDJR
 ),1&+ &(  61 $867$'  +LVWRU\ DQG SURVSHFWV V\PSRVLXP RQ RUJDQLVPV
ZLWKVORZDJLQJ([S*HURQWRO±
 $11$/61(:<25.$&$'(0<2)6&,(1&(6

 %$*(1$/ 7% (G  7KH $JHLQJ RI )LVK 3URFHHGLQJV RI DQ ,QWHUQDWLRQDO
6\PSRVLXP8QZLQ%URWKHUV/WG6XUUH\(QJODQG
 0&)$5/$1( *$  5- %($0,6+  9DOLGDWLRQ RI WKH RWROLWK FURVVVHFWLRQ
PHWKRG RI DJH GHWHUPLQDWLRQ IRU VDEOHILVK $QRSORSRPD ILPEULD  XVLQJ R[\WHWUD
F\FOLQH,Q5HFHQW'HYHORSPHQWVLQ)LVK2WROLWK5HVHDUFK'+6HFRUHWDO(GV
±8QLYHUVLW\RI6RXWK&DUROLQD3UHVV&ROXPELD6&
 6(&25 '+ HW DO (GV  5HFHQW 'HYHORSPHQWV LQ )LVK 2WROLWK 5HVHDUFK
8QLYHUVLW\RI6RXWK&DUROLQD3UHVV&ROXPELD6&
 )26680 3 HW DO (GV  6HFRQG ,QWHUQDWLRQDO 6\PSRVLXP RQ )LVK 2WROLWK
5HVHDUFK $SSOLFDWLRQ%HUJHQ1RUZD\-XQH±)LVKHULHV5HV 6SHFLDO
,VVXH 
 %(11(77 -7 HW DO  &RQILUPDWLRQ RQ ORQJHYLW\ LQ 6HEDVWHV GLSORSURD 3LVFHV
6FRUSDHQLGDH IURP3E5DPHDVXUHPHQWVLQRWROLWKV0DU%LRO±
 &$03$1$6(HWDO3E5DGHWHUPLQDWLRQRIORQJHYLW\LQUHGILVK&DQ-
)LVK$TXDW6FL±
 *(25*( -& HW DO  $JH DQG JURZWK HVWLPDWHV RI ERZKHDG ZKDOHV %DODHQD
P\VWLFHWXV YLDDVSDUWLFDFLGUDFHPL]DWLRQ&DQ-=RRO±
 61,'(5 $7  -. %2:/(5  /RQJHYLW\ RI 5HSWLOHV DQG $PSKLELDQV LQ 1RUWK
$PHULFDQ &ROOHFWLRQV 6HFRQG HGLWLRQ +HUSHWRORJLFDO &LUFXODU 1R  6RFLHW\ IRU
WKH6WXG\RI$PSKLELDQVDQG5HSWLOHV
 %-251'$/.$1XWULWLRQDOHFRORJ\RIVHDWXUWOHV&RSHLD±
 3$71$,.%.$JHLQJLQUHSWLOHV*HURQWRORJ\±
 &$,//,(7*0HWDO$JHGHWHUPLQDWLRQDQGYDOLGDWLRQVWXGLHVRIPDULQHILVKHV
GRGHHSGZHOOHUVOLYHORQJHU"([S*HURQWRO±