Originally founded to house the papers and artifacts of the Stevens family, operators of several woolen mills in the Merrimack Valley, the Museum of American Textile History has grown to become a valuable resource for historians and others interested in the rise and fall of the New England textile industry. In the following essay, Dorothy Truman describes the depth and breadth of the museum's collections and highlights their importance to the study of business history.

In this article Professor Walton examines the influence of bourgeois women on industrial production in nineteenth-century Paris. She argues that women, as arbiters of taste and consumers for the family, sought art and originality in manufactured goods, and that their demands in turn fostered handicraft and less skilled hand methods of manufacturing as the best means of providing such goods. By establishing the connections between women's roles and bourgeois demand, and between bourgeois demand and hand manufacturing, this study offers a new perspective on the persistence of hand production in France.

Despite recent interest in the history of the American worker, relatively little attention has been paid to the evolution of corporate employment and labor relations practices, particularly in the nonunion sector. In this article, Professor Jacoby examines the employee attitude testing program at Sears, Roebuck and Company and places it in a larger historical context as well as in the narrower framework of developments in personnel relations. During the 1940s and 1950s the Sears program was one of the most innovative and sophisticated applications of behavioral science to workplace problems, and it served as a model for many other companies. Although the testing program was developed as part of an ongoing effort to forestall unionization, it also had a research component that made important contributions to a number of academic disciplines, particularly organizational theory and industrial sociology.

The unique characteristics of options enable investors to create nonnormal portfolio return distributions that cannot be replicated with other assets. This analysis explores the power of various investment selection criteria to identify efficient portfolios from investment strategies involving call options and treasury bills, stocks, and covered option writing. The preference structure for strategies incorporating options is compared to traditional stock-fixed income investments, and the importance of options to investor utility maximization is illustrated. This study reveals that rules of stochastic dominance that place few restrictions on investor preference functions and asset return distribution are appropriate criteria by which to rank portfolios containing options and other assets.

Errors in variables due to nonsynchronous trading and benchmark error are significant problems for capital market research. This paper develops the use of direct and reverse regression to bound true coefficient estimates when the data exhibit error structures arising from these two sources both separately and jointly. The approach appears to have broad applicability for capital markets research. As an example, the paper reexamines the small-firm effect to show that it cannot be attributed to nonsynchronous trading or benchmark error in the estimated variance of the market portfolio. This result is shown to hold even when the tax-selling effect is controlled for by excluding January returns.