The purpose of this research paper is to identify the factors affecting the effectiveness of Moodle from the students' perspective. The research hypotheses derived from the suggested extended Seddon model have been empirically validated using the responses to a survey on e-learning usage among 255 users. We tested the model across higher education institutions in Serbia, Lithuania, and Bosnia and Herzegovina. These responses have been examined through partial-least squares. The obtained results strongly support 16 of the 23 research hypotheses for the proposed e-learning model. We defined eight factors (behavioral intention to use in the future, communicativeness, format, information quality, performance outcome, perceived usefulness, satisfaction and system quality) in the initial theoretical e-learning model. Unexpectedly, system and information quality did not influence satisfaction, while communicativeness had the highest significant impact on performance outcome. Satisfaction had a significant effect on behavior intention and accounted for 68.4% of the variance in this area. The findings offer an insight into those factors that are likely significant antecedents for planning and implementing a Moodle e-learning system to enhance student-learning effectiveness.