Cloud e-learning for mechatronics: CLEM

his paper describes results of the CLEM project, Cloud E-learning for Mechatronics. CLEM is an example of a domain-specific cloud that is especially tuned to the needs of VET (Vocational, Education and Training) teachers. An interesting development has been the creation of remote laboratories in the cloud. Learners can access such laboratories to support their practical learning of mechatronics without the need to set up laboratories at their own institutions. The cloud infrastructure enables multiple laboratories to come together virtually to create an ecosystem for educators and learners. From such a system, educators can pick and mix materials to create suitable courses for their students and the learners can experience different types of devices and laboratories through the cloud. The paper provides an overview of this new cloud-based e-learning approach and presents the results. The paper explains how the use of cloud computing has enabled the development of a new method, showing how a holistic e-learning experience can be obtained through use of static, dynamic and interactive material together with facilities for collaboration and innovation

Investor sentiment and bidder announcement abnormal returns

We introduce the significance of a direct sentiment proxy as an explanatory variable of bidder announcement returns. We argue that sentiment subconsciously influences investor perception of potential merger synergies and risks, and therefore relates to bidder abnormal returns. We proxy daily sentiment based on Facebook status updates across seventeen international markets and show that there is a positive relation between sentiment and bidder announcement returns. In line with behavioral literature stating that sentiment more heavily influences uninformed traders, this relation is more pronounced in acquisitions with a low percentage of blockholder ownership, acquisitions of US public targets, and acquisitions of large targets relative to the size of the bidders. Our study goes beyond the conventional sentiment and stock market returns literature, uncovering a significant relation between sentiment and firm-specific abnormal returns to acquiring companies

Facebook's daily sentiment and international stock markets

We examine the relation between daily sentiment and trading behavior within 20 international markets by exploiting Facebook's Gross National Happiness Index. We find that sentiment has a positive contemporaneous relation to stock returns. Moreover, sentiment on Sunday affects stock returns on Monday, suggesting causality from sentiment to stock markets. We observe that the relation between sentiment and returns reverses the following weeks. We further show that negative sentiments are related to increases in trading volume and return volatility. These results highlight the importance of behavioral factors in stock investing

Divergence of sentiment and stock market trading

This paper introduces the concept of divergence of sentiment to the behavioral finance literature. We measure the distance between people with positive and negative sentiment on a daily basis for 20 countries by using data from status updates on Facebook. The prediction is that a higher divergence of sentiment leads to more diverging views on prospects and risks, and thus to more diverging views on the value of a stock. In line with this prediction, divergence of sentiment is positively related to trading volume. We further predict and find a positive relation between divergence of sentiment and stock price volatility. The observed relations are stronger when individual investors are more likely to trade. We compare the effect of our country-specific measures to a global measure of divergence of sentiment. We find that the separate effects of country-specific and global divergence measures depend on a country's level of market integration