Professor Yen-p'ing Hao analyzes the economic, social, political, and intellectual roles of a Chinese mercantile class which served as a link between China and the West.

A question that bedevils the academic economist, the trustbuster, and the community at large is whether conglomerate merger activity is a force for good or evil. In common with horizontal and vertical merger activity, the critical consideration is whether conglomerate mergers produce better uses of resources, increases in monopoly power, or some mixture of these two results. Economists have been examining these mergers in an effort to determine whether efficiency in the use of resources is, in fact, promoted. However, when investigating this question, the subject of inquiry is usually confined to the optimizing decision of the firm. It has been argued that conglomerate activity involves the best use of resources from the standpoint of the firm.

This paper examines the operating efficiency of three types of financial intermediaries in the United States: (1) credit unions, (2) savings and loan associations, and (3) mutual savings banks during the past three decades. In particular, it examines by how much, if any, the operating efficiency of these intermediaries has been enhanced.

Pressures for expansion of production brought by World War I caused labor problems which led many American manufacturers to begin organized personnel work. Morris E. Leeds, despite setbacks caused by the 1920–1921 recession, succeeded in creating one of the most comprehensive employee programs in the United States.

Presently, foreign banks may enter the United States, depending on state law, in one of four forms:

(1) Branches,

(2) Agencies,

(3) Affiliates, and

(4) Representative offices.

In testing hypotheses, researchers are almost always faced with the problem of isolating the effect of certain variables. This is a particularly acute problem in the social sciences, where the absence of an experimental environment means that researchers must resort to statistical methods of adjustment.

Mrs. Kujovich examines the impact of technological innovation upon the beef industry and the railroads. Utilization of the refrigerator car disrupted the old order in the relationship between the industry and the railroads, exploiting the competition between railroads to make possible the nationwide expansion of the western dressed beef industry.

This study is another attempt to analyze the behavior of common stock prices. In the last decade, and even before that, literature has spewed forth an abundant supply of studies in this area, from random walkers, to optimum portfolioers, to performance measurers. Terms such as risk and return, variance and covariance, and variability and volatility proliferate journal pages and our daily conversations.

Professor Carosso analyzes the impact of New Deal legislation upon the nation's investment banking community. Although some adjustments in banking methods resulted, the reforms did not effect any fundamental changes in the position of investment bankers in the American economy.