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Various e-learning systems have been developed and implemented in educational contexts. However, few studies try to go beyond the experimental level of identifying numerous factors that influence this technology and apply them to a real academic class of students. This article based on an in-depth analysis of a business school case—Montpellier Business School (France)—and survey data from 405 students assessed on their use of the e-learning platform, helps illuminate the patterns involved in e-learning performance. A literature review on e-learning performance factors is realized and a theoretical model focusing on three dimensions of e-learning performance—the learner side, the institutional environment and the e-learning system per se—is presented and tested empirically. The key findings of this paper identify motivation and selfdiscipline of students as main drivers of e-learning outcomes. Other results show that the integration of e-learning in a pedagogical program requires the analysis of its performance not only from learners and instructors point of view, but also from the underlying strategic perspective of the institution.

Performance Factors of a "Full Distance Learning": The Case of Undergraduate Students in Academic Exchange