Mobile Books: Effect of Engagement on Students’ Motivation and Cognitive Strategy Use

This mixed methods research explores the role of reading engagement in 30 grade 1 students’ motivation to read mobile electronic storybooks (eBooks) and cognitive strategies used during eBook reading. Data collection comprised motivation and parent questionnaires, behavioural observation checklists, cognitive strategies rubric, and teacher interviews. Students’ emotional engagement with and enjoyment of mobile eBooks corresponded to 4 motivational aspects of intrinsic motivation: curiosity, control, choice, and challenge. Post-intervention results indicated that most student participants enjoyed answering eBook comprehension questions and preferred eBooks to print books; by the end of the study, all had access to a mobile device at home. A majority of participants were actively engaged during mobile eBook reading sessions and persisted in answering embedded eBook comprehension questions, which together reflected students’ behavioural engagement and time-on-task during mobile reading. Students’ off-task behaviours related to iPads’ accessibility features and inherent reader-friendliness. All participants successfully answered evaluative questions requiring them to activate prior knowledge, and experienced higher levels of difficulty with making personal connections. The study highlights the importance of making school-based literacy practices relevant to students’ outside worlds, and discusses implications for teacher educators, administrators, curriculum developers, and eBook and other digital developers concerning the need for greater collaboration in order to more closely align technology resources with national curriculum expectations.

Volume-Synchronized Probability of Informed Trading (VPIN), Market Volatility, and High-Frequency Liquidity

We assess the predictive ability of three VPIN metrics on the basis of two highly volatile market events of China, and examine the association between VPIN and toxic-induced volatility through conditional probability analysis and multiple regression. We examine the dynamic relationship on VPIN and high-frequency liquidity using Vector Auto-Regression models, Granger Causality tests, and impulse response analysis. Our results suggest that Bulk Volume VPIN has the best risk-warning effect among major VPIN metrics. VPIN has a positive association with market volatility induced by toxic information flow. Most importantly, we document a positive feedback effect between VPIN and high-frequency liquidity, where a negative liquidity shock boosts up VPIN, which, in turn, leads to further liquidity drain. Our study provides empirical evidence that reflects an intrinsic game between informed traders and market makers when facing toxic information in the high-frequency trading world.

Macroeconomic News and LOB in Foreign Exchange ECN Market

We investigate the macroeconomic news effect on the dynamics of the limit order books (LOB) for euro-dollar ECN market in different economic states between Jan. 2006 to Dec. 2009. Using a VAR-STR model on the news surprise, pure news, aggregated good and bad news, we show that news effects on the LOB dynamics vary in different states of economy. The LOB dynamics are measured by depth, spread, slope and volatility. In contract to slope and volatility, depth and spread strongly respond to news surprise and pure news during recession and expansion. These characteristics are more affected by aggregated good and bad news during expansion. News effects are robust to alternative characteristic measures, the different sides of the LOB and the different levels in the LOB.