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Henry Tam

Personal Details

First Name:Henry
Middle Name:
Last Name:Tam
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RePEc Short-ID:pta658
http://people.laps.yorku.ca/people.nsf/researcherprofile?readform&shortname=thenry

Affiliation

Department of Economics
York University

Toronto, Canada
http://econ.laps.yorku.ca/
RePEc:edi:dyorkca (more details at EDIRC)

Research output

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Articles

  1. Liona Lai & Henry Tam, 2017. "Corporate governance, ownership structure and managing earnings to meet critical thresholds among Chinese listed firms," Review of Quantitative Finance and Accounting, Springer, vol. 48(3), pages 789-818, April.
  2. Tam, Henry, 2011. "U-shaped female labor participation with economic development: Some panel data evidence," Economics Letters, Elsevier, vol. 110(2), pages 140-142, February.
  3. Tam, Henry & Lai, Liona, 2009. "Explaining the equity premium in Hong Kong with C-CAPM: The use of emigration growth as an instrument," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(3), pages 520-533, July.
  4. Henry Tam, 2008. "An economic or political Kuznets curve?," Public Choice, Springer, vol. 134(3), pages 367-389, March.
  5. Henry Tam, 2004. "The Humean Critique of Lump Sum Taxation (or the Implausibility of Pure Lump Sum Taxes in Autocracy)," Public Choice, Springer, vol. 118(1_2), pages 61-76, January.
  6. Henry Tam, 2004. "A Social Contract Approach to the Formation of National Borders," Public Choice, Springer, vol. 118(1_2), pages 183-209, January.

Citations

Many of the citations below have been collected in an experimental project, CitEc, where a more detailed citation analysis can be found. These are citations from works listed in RePEc that could be analyzed mechanically. So far, only a minority of all works could be analyzed. See under "Corrections" how you can help improve the citation analysis.

Articles

  1. Liona Lai & Henry Tam, 2017. "Corporate governance, ownership structure and managing earnings to meet critical thresholds among Chinese listed firms," Review of Quantitative Finance and Accounting, Springer, vol. 48(3), pages 789-818, April.

    Cited by:

    1. Andrzej Piosik, 2021. "Revenue Identification in Attaining Consensus Estimates on Income Predictions: The Function of Ownership Concentration and Managerial Ownership Confirmation from Poland," Sustainability, MDPI, vol. 13(23), pages 1-16, December.
    2. Sami Adwan & Alaa Alhaj-Ismail & Ranko Jelic, 2022. "Non-executive employee ownership and financial reporting quality: evidence from Europe," Review of Quantitative Finance and Accounting, Springer, vol. 59(2), pages 793-823, August.
    3. Luminita Enache & Antonio Parbonetti & Anup Srivastava, 2020. "Are all outside directors created equal with respect to firm disclosure policy?," Review of Quantitative Finance and Accounting, Springer, vol. 55(2), pages 541-577, August.
    4. Li Li Eng & Xi Tian & T. Robert Yu, 2018. "Financial Statement Analysis: Evidence from Chinese Firms," Review of Pacific Basin Financial Markets and Policies (RPBFMP), World Scientific Publishing Co. Pte. Ltd., vol. 21(04), pages 1-32, December.
    5. D. G. DeBoskey & Yan Luo & Linying Zhou, 2019. "CEO power, board oversight, and earnings announcement tone," Review of Quantitative Finance and Accounting, Springer, vol. 52(2), pages 657-680, February.
    6. Mohamed Khalil & Aydin Ozkanc & Yilmaz Yildiz, 2020. "Foreign institutional ownership and demand for accounting conservatism: evidence from an emerging market," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 1-27, July.
    7. Han, Minghui & Ding, Ashley & Zhang, Hao, 2022. "Foreign ownership and earnings management," International Review of Economics & Finance, Elsevier, vol. 80(C), pages 114-133.
    8. Amon Chizema & Wei Jiang & Jing-Ming Kuo & Xiaoqi Song, 2020. "Mutual funds, tunneling and firm performance: evidence from China," Review of Quantitative Finance and Accounting, Springer, vol. 55(1), pages 355-387, July.
    9. Andrzej Piosik & Ewa Genge, 2019. "The Influence of a Company’s Ownership Structure on Upward Real Earnings Management," Sustainability, MDPI, vol. 12(1), pages 1-24, December.
    10. GuoHua Cao & WenJun Geng & Jing Zhang & Qi Li, 2023. "Financial constraints, short selling and corporate fraud: Evidence from China," Australian Economic Papers, Wiley Blackwell, vol. 62(2), pages 297-320, June.

  2. Tam, Henry, 2011. "U-shaped female labor participation with economic development: Some panel data evidence," Economics Letters, Elsevier, vol. 110(2), pages 140-142, February.

    Cited by:

    1. Mavisakalyan, Astghik & Tarverdi, Yashar, 2019. "Oil and women: A re-examination," Energy Economics, Elsevier, vol. 82(C), pages 191-200.
    2. Moundir Lassassi & Aysit Tansel, 2022. "Female labor force participation in Egypt and Palestine: An age–period–cohort analysis," Review of Development Economics, Wiley Blackwell, vol. 26(4), pages 1997-2020, November.
    3. Amaia Altuzarra & Catalina Gálvez-Gálvez & Ana González-Flores, 2019. "Economic Development and Female Labour Force Participation: The Case of European Union Countries," Sustainability, MDPI, vol. 11(7), pages 1-18, April.
    4. Ali Fakih, 2014. "Vacation Leave, Work Hours and Wages: New Evidence from Linked Employer-Employee Data," CIRANO Working Papers 2014s-40, CIRANO.
    5. Clavijo-Cortes, Pedro & Robledo-Campo, Jacobo & Mendoza-Tolosa, Henry, 2019. "A Reassessment of the Relation between Economic Growth and Maldistribution of Income," MPRA Paper 97049, University Library of Munich, Germany.
    6. Prathi Seneviratne, 2017. "Female Labour Force Participation and Economic Development in Labour Abundant Countries: Evidence from Sri Lanka," Working Papers 2017-02, Carleton College, Department of Economics.
    7. Isis Gaddis & Stephan Klasen, 2013. "Economic Development, Structural Change and Women’s Labor Force Participation A Reexamination of the Feminization U Hypothesis," Working Papers 1302, New School for Social Research, Department of Economics.
    8. Iryna Lukianenko & Marianna Oliskevych, 2017. "Evidence of Asymmetries and Nonlinearity of Unemployment and Labour Force Participation Rate in Ukraine," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(5), pages 578-601.
    9. Ajide Folorunsho M., 2021. "Financial Inclusion and Labour Market Participation of Women in Selected Countries in Africa," Economics and Culture, Sciendo, vol. 18(1), pages 15-31, June.
    10. Chhavi Tiwari & Srinivas Goli & Anu Rammohan, 2022. "Reproductive Burden and Its Impact on Female Labor Market Outcomes in India: Evidence from Longitudinal Analyses," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 41(6), pages 2493-2529, December.
    11. Ali Fakih & Pascal Ghazalian, 2015. "Female employment in MENA’s manufacturing sector: the implications of firm-related and national factors," Economic Change and Restructuring, Springer, vol. 48(1), pages 37-69, February.
    12. Tunali, Insan & Kirdar, Murat Güray & Dayioglu-Tayfur, Meltem, 2019. "Female Labor Force Participation in Turkey: A Synthetic Cohort (Panel) Analysis, 1988-2013," IZA Discussion Papers 12844, Institute of Labor Economics (IZA).
    13. Ursula-Christiane Ouaïmon & Yabin Zhang, 2019. "Women?s participation in the labor market and Economic Development: Evidence from ECCAS and ECOWAS Countries," International Journal of Economic Sciences, International Institute of Social and Economic Sciences, vol. 8(1), pages 94-105, June.
    14. Siegmann, K.A. & Majid, H., 2014. "Empowering growth in Pakistan?," ISS Working Papers - General Series 595, International Institute of Social Studies of Erasmus University Rotterdam (ISS), The Hague.
    15. Nabanita Datta Gupta & Debasish Nandy & Suddhasil Siddhanta, 2020. "“Opt out” or kept out? The effect of stigma, structure, selection, and sector on the labor force participation of married women in India," Review of Development Economics, Wiley Blackwell, vol. 24(3), pages 927-948, August.
    16. Guillaume Marois & Ekaterina Zhelenkova & Balhasan Ali, 2022. "Labour Force Projections in India Until 2060 and Implications for the Demographic Dividend," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 164(1), pages 477-497, November.
    17. John C. Anyanwu & Darline Augustine, 2013. "Gender Equality in Employment in Africa: Empirical Analysis and Policy Implications," African Development Review, African Development Bank, vol. 25(4), pages 400-420, December.
    18. Lv, Zhike & Yang, Rudai, 2018. "Does women’s participation in politics increase female labor participation? Evidence from panel data analysis," Economics Letters, Elsevier, vol. 170(C), pages 35-38.
    19. Verme, Paolo, 2014. "Economic development and female labor participation in the Middle East and North Africa : a test of the u-shape hypothesis," Policy Research Working Paper Series 6927, The World Bank.
    20. Ho, Chi Pui, 2016. "Rise of Women in Unified Growth Theory: French Development Process and Policy Implications," MPRA Paper 73864, University Library of Munich, Germany.
    21. Deshpande, Ashwini & Singh, Jitendra, 2021. "Dropping Out, Being Pushed Out or Can’t Get in? Decoding Declining Labour Force Participation of Indian Women," IZA Discussion Papers 14639, Institute of Labor Economics (IZA).
    22. Kosec, Katrina & Mo, Cecilia Hyunjung & Schmidt, Emily & Song, Jie, 2021. "Perceptions of relative deprivation and women’s empowerment," World Development, Elsevier, vol. 138(C).
    23. Pascal L. Ghazalian, 2022. "The effects of the Arab Spring on female labour force participation in the MENA region," Economics of Transition and Institutional Change, John Wiley & Sons, vol. 30(4), pages 869-900, October.
    24. Rosalia CASTELLANO & Antonella ROCCA, 2018. "Gender disparities in European labour markets: A comparison of conditions for men and women in paid employment," International Labour Review, International Labour Organization, vol. 157(4), pages 589-608, December.
    25. Chaudhary, Ruchika. & Verick, Sher., 2014. "Female labour force participation in India and beyond," ILO Working Papers 994867893402676, International Labour Organization.
    26. Chi-Wei Su & Zheng-Zheng Li & Ran Tao & Oana-Ramona Lobonţ, 2019. "Can economic development boost the active female labor force?," Quality & Quantity: International Journal of Methodology, Springer, vol. 53(2), pages 1021-1036, March.
    27. Mancini, Giulia, 2019. "The determinants of female labor supply in Italy, 1881-2018," MPRA Paper 102165, University Library of Munich, Germany.
    28. Girard, Alexandre & Gnabo, Jean-Yves & Londoño van Rutten, Rodrigo, 2023. "Firm performance and the crowd effect in lobbying competition," Finance Research Letters, Elsevier, vol. 53(C).
    29. Amin, Mohammad & Islam, Asif, 2014. "Does mandating nondiscrimination in hiring practices influence women's employment ? evidence using firm-level data," Policy Research Working Paper Series 7076, The World Bank.
    30. Mehrotra, Santosh & Parida, Jajati K., 2017. "Why is the Labour Force Participation of Women Declining in India?," World Development, Elsevier, vol. 98(C), pages 360-380.
    31. Dilara Kýlýnç & Esra Onater & Ý. Hakan Yetkiner, 2013. "The ARDL Test of Gender Kuznets Curve for G7 Countries," Working Papers 1305, Izmir University of Economics.
    32. Vo, Thang T. & Ha, Truong Thiet, 2021. "Decomposition of gender bias in enterprise employment: Insights from Vietnam," Economic Analysis and Policy, Elsevier, vol. 70(C), pages 182-194.
    33. Mame Cheikh Anta Sall & Adriana Burlea-Schiopoiu, 2021. "An Analysis of the Effects of Public Investment on Labor Demand through the Channel of Economic Growth with a Focus on Socio-Professional Categories and Gender," JRFM, MDPI, vol. 14(12), pages 1-16, December.
    34. Luca J. Uberti & Elodie Douarin, 2023. "The Feminisation U, cultural norms, and the plough," Journal of Population Economics, Springer;European Society for Population Economics, vol. 36(1), pages 5-35, January.
    35. Fakih, Ali & Ghazalian, Pascal L., 2013. "Female Labour Force Participation in MENA's Manufacturing Sector: The Implications of Firm-Related and National Factors," IZA Discussion Papers 7197, Institute of Labor Economics (IZA).
    36. Tunalı, İnsan & Kırdar, Murat G. & Dayıoğlu, Meltem, 2021. "Down and up the “U” – A synthetic cohort (panel) analysis of female labor force participation in Turkey, 1988–2013," World Development, Elsevier, vol. 146(C).
    37. Buhari Dogan & Mürsel Akyüz, 2017. "Female Labor Force Participation Rate And Economic Growth In The Framework Of Kuznets Curve: Evidence From Turkey," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 19, pages 33-54, June.
    38. Paolo Verme & Abdoul Gadiry Barry & Jamal Guennouni, 2016. "Female Labor Participation in the Arab World: Evidence from Panel Data in Morocco," LABOUR, CEIS, vol. 30(3), pages 258-284, September.
    39. World Bank, 2015. "Morocco -- Mind the Gap," World Bank Publications - Reports 22274, The World Bank Group.
    40. Shiba Shankar Pattayat & Jajati Keshari Parida & Kirtti Ranjan Paltasingh, 2023. "Gender Wage Gap among Rural Non-farm Sector Employees in India: Evidence from Nationally Representative Survey," Review of Development and Change, , vol. 28(1), pages 22-44, June.
    41. Rim Berahab & Zineb Bouba & Pierre-Richard Agénor, 2017. "Egalité de genre, politiques publiques et croissance économique au Maroc," Books & Reports, Policy Center for the New South, number 13.
    42. Ostry, Jonathan D. & Espinoza, Raphael & Papageorgiou, Chris, 2019. "The Armistice of the Sexes: Gender Complementarities in the Production Function," CEPR Discussion Papers 13792, C.E.P.R. Discussion Papers.
    43. Afridi, Farzana & Dinkelman, Taryn & Mahajan, Kanika, 2016. "Why Are Fewer Married Women Joining the Work Force in India? A Decomposition Analysis over Two Decades," IZA Discussion Papers 9722, Institute of Labor Economics (IZA).
    44. Karin Astrid Siegmann & Hadia Majid, 2021. "Empowering Growth in Pakistan?," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 64(2), pages 309-331, June.
    45. Gupta, Tanu & Negi, Digvijay S., 2021. "Daughter vs. Daughter-in-Law: Kinship Roles and Women's Time Use in India," 2021 Annual Meeting, August 1-3, Austin, Texas 313373, Agricultural and Applied Economics Association.
    46. Farzana Afridi & Taryn Dinkelman & Kanika Mahajan, 2018. "Why are fewer married women joining the work force in rural India? A decomposition analysis over two decades," Journal of Population Economics, Springer;European Society for Population Economics, vol. 31(3), pages 783-818, July.
    47. Hyunsoo KANG, 2015. "A study on the relationship between international trade and food security: Evidence from less developed countries (LDCs)," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 61(10), pages 475-483.
    48. Klasen,Stephan & Pieters,Janneke, 2015. "What explains the stagnation of female labor force participation in urban India ?," Policy Research Working Paper Series 7222, The World Bank.
    49. Gatot SASONGKO & Bernard Edheney HURUTA, 2020. "Female Labor Force Participation Rate in Indonesia: An Empirical Evidence from Panel Data Approach," Management and Economics Review, Faculty of Management, Academy of Economic Studies, Bucharest, Romania, vol. 5(1), pages 136-146, June.
    50. Abeer Mohamed Ali Abd Elkhalek, 2019. "Economic Development and Participation of Women in Services Sector: Empirical Evidence from Egypt," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 11(2), pages 155-164, February.
    51. BILAN Yuriy & OMRAN Emad Attia Mohamed, 2022. "Female Labour Force Participation and the Economic Development in Egypt," European Journal of Interdisciplinary Studies, Bucharest Economic Academy, issue 01, March.
    52. Molinder, Jakob, 2022. "Historical roots of the dual-earner model: Women’s labour force participation in Sweden, 1870–1960," Lund Papers in Economic History 244, Lund University, Department of Economic History.
    53. Abudy, Menachem (Meni) & Mugerman, Yevgeny & Wiener, Zvi, 2021. "Stock markets and female participation in the labor force," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 74(C).
    54. Adnan Khaliq & Dilawar Khan & Sultan Akbar & Muhammad Hamayun & Barkat Ullah, 2017. "Female Labor Market Participation and Economic Growth: The Case of Pakistan," Journal of Social Science Studies, Macrothink Institute, vol. 4(2), pages 217-230, July.
    55. Besamusca, Janna & Tijdens, Kea & Keune, Maarten & Steinmetz, Stephanie, 2015. "Working Women Worldwide. Age Effects in Female Labor Force Participation in 117 Countries," World Development, Elsevier, vol. 74(C), pages 123-141.
    56. Tsani, Stella & Paroussos, Leonidas & Fragiadakis, Costas & Charalambidis, Ioannis & Capros, Pantelis, 2013. "Female labour force participation and economic growth in the South Mediterranean countries," Economics Letters, Elsevier, vol. 120(2), pages 323-328.
    57. Mishra, Ankita & Mishra, Vinod & Parasnis, Jaai, 2021. "The asymmetric role of crime in women's and men's labour force participation: Evidence from India," Journal of Economic Behavior & Organization, Elsevier, vol. 188(C), pages 933-961.
    58. Tiwari, Chhavi & Goli, Srinivas & Rammohan, Anu, 2021. "Reproductive Burden And Its Impact On Female Labour Market Outcomes In India: Evidence From Longitudinal Analyses," SocArXiv nhjvm, Center for Open Science.
    59. Marianna Oliskevych & Iryna Lukianenko, 2020. "European unemployment nonlinear dynamics over the business cycles: Markov switching approach," Global Business and Economics Review, Inderscience Enterprises Ltd, vol. 22(4), pages 375-401.
    60. Burak Sencer Atasoy, 2017. "Female Labour Force Participation in Turkey: The Role of Traditionalism," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 29(4), pages 675-706, August.
    61. Khorana, Sangeeta & Webster, Allan, 2023. "Too few women at the top of firms: Foreign ownership, gender segregation and cultural causes," GLO Discussion Paper Series 1276, Global Labor Organization (GLO).
    62. Ashwini Deshpande & Jitendra Singh, 2021. "Dropping Out, Being Pushed out or Can't Get In? Decoding Declining Labour Force Participation of Indian Women," Working Papers 65, Ashoka University, Department of Economics.
    63. Mina Baliamoune, 2022. "Trade and Youth Labor Market Outcomes: Empirical Evidence and Policy Implications," Research papers & Policy papers 1945, Policy Center for the New South.
    64. John Anyanwu, 2013. "Characteristics and Macroeconomic Determinants of Youth Employment in Africa," African Development Review, African Development Bank, vol. 25(2), pages 107-129.
    65. Canessa, Eugenia & Giannelli, Gianna Claudia, 2021. "Women's Employment and Natural Shocks," IZA Discussion Papers 14055, Institute of Labor Economics (IZA).
    66. Hanan Nazier & Racha Ramadan, 2016. "Women's Participation in Labor Market in Egypt: Constraints and Opportunities," Working Papers 999, Economic Research Forum, revised May 2016.
    67. Antara Bhattacharyya & Sushil Kr. Haldar, 2020. "Does U Feminisation Work in Female Labour Force Participation Rate? India: A Case Study," The Indian Journal of Labour Economics, Springer;The Indian Society of Labour Economics (ISLE), vol. 63(1), pages 143-160, March.
    68. John C. Anyanwu, 2016. "Analysis of Gender Equality in Youth Employment in Africa," African Development Review, African Development Bank, vol. 28(4), pages 397-415, December.

  3. Tam, Henry & Lai, Liona, 2009. "Explaining the equity premium in Hong Kong with C-CAPM: The use of emigration growth as an instrument," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 19(3), pages 520-533, July.

    Cited by:

    1. Julian Thimme, 2017. "Intertemporal Substitution In Consumption: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 31(1), pages 226-257, February.

  4. Henry Tam, 2008. "An economic or political Kuznets curve?," Public Choice, Springer, vol. 134(3), pages 367-389, March.

    Cited by:

    1. Andreas Georgiadis & Alan Manning, 2007. "Spend It Like Beckham? Inequality and Redistribution in the UK, 1983-2004," CEP Discussion Papers dp0816, Centre for Economic Performance, LSE.
    2. Adalgiso Amendola & Joshy Easaw & Antonio Savoia, 2013. "Inequality in developing economies: the role of institutional development," Public Choice, Springer, vol. 155(1), pages 43-60, April.
    3. AMENDOLA, Adalgiso & DELL'ANNO, Roberto, 2013. "Social Exclusion and Economic Growth: An Empirical Investigation in European Economies," CELPE Discussion Papers 126, CELPE - CEnter for Labor and Political Economics, University of Salerno, Italy.
    4. Hazama, Yasushi, 2017. "The impact of exports on income inequality in developing countries," IDE Discussion Papers 650, Institute of Developing Economies, Japan External Trade Organization(JETRO).
    5. Oksana Melikhova & Jakub Čížek, 2014. "Kuznets Inverted U-Curve Hypothesis Examined on Up-To Date Observations for 145 Countries," Prague Economic Papers, Prague University of Economics and Business, vol. 2014(3), pages 388-410.
    6. Tobias F. Rötheli, 2011. "The Kuznets curve: determinants of its shape and the role of finance," Studies in Economics and Finance, Emerald Group Publishing Limited, vol. 28(2), pages 149-159, June.
    7. Tam, Henry, 2011. "U-shaped female labor participation with economic development: Some panel data evidence," Economics Letters, Elsevier, vol. 110(2), pages 140-142, February.
    8. Brais Alvarez-Pereira & Catherine S. E. Bale & Bernardo Alves Furtado & James E. Gentile & Claudius Gräbner & Heath Henderson & Francesca Lipari, 2015. "Social Institutions and Economic Inequality: Modeling the Onset of the Kuznets Curve," Discussion Papers 0204, Instituto de Pesquisa Econômica Aplicada - IPEA.
    9. Ann-Sofie Isaksson, 2011. "Social divisions and institutions: assessing institutional parameter variation," Public Choice, Springer, vol. 147(3), pages 331-357, June.
    10. Hagemann, Harald & Kufenko, Vadim, 2014. "The political Kuznets curve for Russia: Income inequality, rent seeking regional elites and empirical determinants of protests during 2011/2012," Violette Reihe: Schriftenreihe des Promotionsschwerpunkts "Globalisierung und Beschäftigung" 39/2013, University of Hohenheim, Carl von Ossietzky University Oldenburg, Evangelisches Studienwerk.
    11. Khusaini, & Remi, Sutyastie Soemitro & Fahmi, Mohamad & Purnagunawan, R. Muhamad, 2020. "Measuring the Inequality in Education: Educational Kuznets Curve," Jurnal Ekonomi Malaysia, Faculty of Economics and Business, Universiti Kebangsaan Malaysia, vol. 54(3), pages 59-76.

  5. Henry Tam, 2004. "The Humean Critique of Lump Sum Taxation (or the Implausibility of Pure Lump Sum Taxes in Autocracy)," Public Choice, Springer, vol. 118(1_2), pages 61-76, January.

    Cited by:

    1. Carmona, Miguel, 2010. "The regulatory function in public-private partnerships for the provision of transport infrastructure," Research in Transportation Economics, Elsevier, vol. 30(1), pages 110-125.
    2. Mykhailo Sverdan, 2022. "Lump-Sum Tax Is An Alternative To Wealth Taxation," Three Seas Economic Journal, Publishing house "Baltija Publishing", vol. 3(4).

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