This is generally a good study (10 page PDF). "The hypothesis of the current study is that courses offered as a series with a culminating credential could be even more beneficial than individual MOOCs." I would call the outcome "inconclusive". The authors discuss, for example, credentials such as the micro-Masters, which can be offered at a much lower cost via MOOCs, and appear to have some currency in the workplace. What's interesting is that a majority of participants pay their own fees and do the work in their leisure time. (As an aside, we could do without the race-based generalizations that are so common in studies like this. The categories are arbitrary, and race is not a significant factor in educational attainment.) There is an associated webinar (slides, video).
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