Student knowledge sharing and conversation theory interactions were coded from asynchronous discussion forums to measure the effect of learning-oriented utterances on academic performance. The sample was 3 terms of an online business course (in an accredited MBA program) at a U.S.-based university. Correlation, stepwise regression, and multiple least squares regression were used to create a statistically significant model with 4 interaction factors that captured 89% of adjusted variance effect on grade. Although factor multicollinearity was excessive, the model supported a hypothesis that more student interaction in all 4 discussion forums predicted a higher grade. Certain types of asynchronous forums presented negative factor coefficients, which implied too much interaction may be counterproductive (cognitive load theory or the law of diminishing returns). (Contains 5 tables and 1 figure.)