Some philosophical enquiries on E-learning: preparing the tomorrow business school

Emerging digital technologies and increasing interest in the computerized delivery of higher education have led to e-learning through electronic mail, the Internet, the World Wide Web (WWW), and multimedia. The major objective of this research outlet is to examine the e-learning evolution in business schools. Our research intentions are to investigate: 1. if universities understand the market dynamics (regarding to segmentation and crossing the chasm); 2. mapping the s-curve to student needs and 3. how business schools will change the value map. From the analysis of existing empirical evidence and our research results from 140 business students of the University of Ioannina (Greece) and 50 business students of the University of Winchester (UK), we can summarize that: a. value is created when new technology is matched to student need; b. but student needs change: as the technology evolves existing students develop new needs and in addition the technology may appeal to new kinds of students, with new kinds of needs and c. understanding the structure of student needs may be particularly important at times of potential discontinuity, when existing students may reject new technologies (for excellent reasons!).  The authors suggest that business schools interested in being productive should invest in implementing performance tools for all educational methods in order to accomplish the educational objectives. Further research in this crucial field of the evolution of e-learning in business schools is the examination of anticipated benefits and the experiences by early e-learning adopters, return on investment and expectations for the future

Oil price shocks and stock market returns: New evidence from the United States and China

This study examines the time-varying correlations between oil prices shocks of different types (supply-side, aggregate demand and oil-market specific demand as per Kilian (2009) who highlighted that "Not all oil shocks are alike") and stock market returns, using a Scalar-BEKK model. For this study we consider the aggregate stock market indices from two countries, China and the US, reflecting the most important developing and developed financial markets in the world. In addition to the whole market, we also consider correlations from key selected industrial sectors, namely Metals & Mining, Oil & Gas, Retail, Technology and Banking. The sample period runs from 1995 until 2013. We highlight several key points: (i) correlations between oil price shocks and stock returns are clearly and systematically time-varying; (ii) oil shocks of different types show substantial variation in their impact upon stock market returns; (iii) these effects differ widely across industrial sectors; and finally (iv) China is seemingly more resilient to oil price shocks than the US

Dynamic spillovers of oil price shocks and economic policy uncertainty

This study examines the dynamic relationship between changes in oil prices and the economic policy uncertainty index for a sample of both net oil-exporting and net oil-importing countries over the period 1997:01–2013:06. To achieve that, an extension of the Diebold and Yilmaz (2009, 2012) dynamic spillover index based on structural decomposition is employed. The results reveal that economic policy uncertainty (oil price shocks) responds negatively to aggregate demand oil price shocks (economic policy uncertainty shocks). Furthermore, during the Great Recession of 2007–2009, total spillovers increase considerably, reaching unprecedented heights. Moreover, in net terms, economic policy uncertainty becomes the dominant transmitter of shocks between 1997 and 2009, while in the post-2009 period there is a significant role for supply-side and oil specific demand shocks, as net transmitters of spillover effects. These results are important for policy makers, as well as, investors interested in the oil market

Dynamic co-movements of stock market returns, implied volatility and policy uncertainty

We examine time-varying correlations among stock market returns, implied volatility and policy uncertainty. Our findings suggest that correlations are indeed time-varying and sensitive to oil demand shocks and US recessions. Highlights: We examine dynamic correlations of stock market returns, implied volatility and policy uncertainty. Dynamic correlations reveal heterogeneous patterns during US recessions. Aggregate demand oil price shocks and US recessions affect dynamic correlations. A rise in the volatility of policy uncertainty dampens stock market returns and increases uncertainty. Increases in stock market volatility reduce stock market returns and increase uncertainty

Dynamic correlation between stock market and oil prices: The case of oil-importing and oil-exporting countries

The paper investigates the time-varying correlation between stock market prices and oil prices for oil-importing and oil-exporting countries. A DCC-GARCH-GJR approach is employed to test the above hypothesis based on data from six countries; Oil-exporting: Canada, Mexico, Brazil and Oil-importing: USA, Germany, Netherlands. The contemporaneous correlation results show that i) although time-varying correlation does not differ for oil-importing and oil-exporting economies, ii) the correlation increases positively (negatively) in respond to important aggregate demand-side (precautionary demand) oil price shocks, which are caused due to global business cycle’s fluctuations or world turmoil (i.e. wars). Supply-side oil price shocks do not influence the relationship of the two markets. The lagged correlation results show that oil prices exercise a negative effect in all stock markets, regardless the origin of the oil price shock. The only exception is the 2008 global financial crisis where the lagged oil prices exhibit a positive correlation with stock markets. Finally, we conclude that in periods of significant economic turmoil the oil market is not a safe haven for offering protection against stock market losses

Discipline-Based Planetary Education Research and Computational Fluid Dynamics Analysis of Mars

This thesis originates from the testing and implementation of an IRB-approved interactive animation designed to help students understand what causes The Reasons For The Seasons (RFTS) on Earth. Results from the testing indicated a small improvement in student understanding after exposure to the animation. Next, using the 3-D mapping tool Google Earth, students explored seasons and other planetary features on Mercury, Venus, the Moon and Mars through IRB-approved interactive tours which were developed and tested for astronomy education. Results from the tests indicated that there were statistically significant learning gains (p-value \u3c 0.05) after students interacted with the tours compared to those who did not. The development of the tours inspired a geophysics study of the possibility of former plate motion (or plate tectonics) on Mars. A 2-D finite element convection model for the mantle of Mars was designed and solved using COMSOL Multiphysics 5.1, to investigate whether or not thermal gradients in a Mars-sized planet could cause vigorous upper mantle convection, consistent with plate tectonic processes. Results from this project indicated that stable convection could occur in the interior of a Mars-like planet assuming the presence of sufficiently high thermal gradients at about 0.8 times the mantle temperature of Earth. The convective patterns resembled hot upwelling and cool downwelling which may be similar to subduction-like features. Furthermore, increasing the temperature of the hot boundaries resulted in faster, more rigorous convective motions and a hotter average temperature

Could a Chinese-Russian strategic alliance challenge the power of the West?

China and Russia have engaged in enhanced cooperation in a number of areas in recent years. Constantinos Filis assesses how Chinese-Russian relations have developed and whether a strategic alliance between the two countries could effectively balance the power of the West. He writes that given the West’s usefulness to both Moscow and Beijing, the striking of a long-term balance that is conducive to cooperation and increasing competition is likely to be the most probable course

Between dilemmas, difficult decisions and a looming impasse

By Spyros Katsoulas, Research Associate at the Institute of International Relations of Panteion University, Athen

An analysis between implied and realised volatility in the Greek Derivatives Market

In this article, we examine the relationship between implied and realised volatility in the Greek derivative market. We examine the differences between realised volatility and implied volatility of call and put options for at-the-money index options with a two-month expiration period. The findings provide evidence that implied volatility is not an efficient estimate of realised volatility. Implied volatility creates overpricing, for both call and put options, in the Greek market. This is an indication of inefficiency for the market. In addition, we find evidence that realised volatility ‘Granger causes’ implied volatility for call options, and implied volatility of call options ‘Granger causes’, the implied volatility of put option

Functional outcome of retinal oedema and its standard treatment

Macular oedema is a pathological condition of fluid accumulation in the retinal tissues. It is a nonspecific sign of several retinal diseases that in the long term can lead to permanent vision loss. The clinical aspect of macular oedema treatment and vision recovery is reduction of the amount of fluid accumulated in the retina. Due to its complex pathophysiological mechanism, macular oedema has proven challenging to manage. Many unanswered questions remain in the ophthalmology world on this subject. The development of recent diagnostic tools such as optical coherence tomography allows better understanding of the morphological changes in the retina. Now we are able to detect retinal oedema and characterise it by location, depth, and amount of fluid. Further, clinicians are now able to assess therapeutic response by examining the anatomical structures of the retina. Yet, with techniques offering objective accuracy, emerging reports have shown discrepancies between clinically examined visual acuity, anatomical changes of the retina, and patients’ self-reported visual ability. The presence of such discrepancies is also supported by the fact that results achieved by randomised clinical trials rarely align with results attained in real-world settings. Today, functional vision testing can be performed with several different methods including questionnaires, colour vision tests, reading speed tests, contrast sensitivity tests etc. Nevertheless, none of these methods are widely used in clinical settings, and their predictive capabilities have yet to be explored. Establishing precise methodology for functional vision testing is likely to provide better understanding of patients’ treatment response. This thesis aims to investigate the potential predictive capabilities of functional vision tests and to compare these capabilities with those of well-established, routine ophthalmic examinations such as visual acuity and retinal thickness tests. In the current research, I focused on the following functional examinations: the visual function questionnaire (VFQ- 25), reading speed testing, and testing of the contrast sensitivity of the macula area (examined by microperimetry). These techniques allowed very specific and sensitive testing of the functionality of the retina. In addition, I explored functional vision tests and their association to the routine ophthalmic tests and their ability to detect sub-clinical changes in vision. I believe further research in this area will offer better understanding of the functional vision changes in patients with macular oedema and potentially will help in improving visionrelated quality of life