I think your key comment is academic. I could not make head or tails of the signature. The model is asian. The pose is a typical classical pose and there is no emphasis on background or even on where she is placed in repose so I would "speculate" that is is a student study possibly, because of the quality, from an atelier. It wasn't originally intended for framing as you can see from the uneven gutters. Someone saved it though. Looks like it was loved.