Purpose: Although leaders are widely believed to employ visions, little is known about what constitutes an "effective" vision, particularly in the higher education sector. This paper seeks to proposes a research model for examining relationships between vision components and performance of higher education institutions, as measured by financial stability, student satisfaction and growth, process improvement, and learning and faculty satisfaction. The model proposes that vision attributes of brevity, clarity, abstractness, challenge, future orientation, stability, and desirability, and vision content relating to financial stability, student satisfaction and growth, process improvement, and learning and faculty satisfaction can affect performance through four vision realisation variables. Design/methodology/approach: Based on a critical review of existing theoretical concepts and empirical evidence, a new research model, as well as research hypotheses, are developed for future research. Findings: With future empirical support, the model will help university and college administrators to effectively improve their institutional performance. Originality/value: While vision is core to the prevailing vision-based leadership theories, little is theoretically and empirically known about attributes for effective visions, particularly in the education sector. The paper proposes a model for future research to fill this gap. (Contains 1 figure.)