This article examines the performance of students in a Web-based corporate finance course and how the technologies associated with communication on the Internet can enhance student learning. The article provides statistical evidence that documents that the online discussion board in a Web-based course can significantly enhance the learning process even in a quantitative course such as corporate finance. The results show that ex ante predictors of student performance that had been found useful in predicting student success in face-to-face classes also had significant predictive power for exam performance in the online course. However, these predictors did not have predictive power for participation in the online discussion. Yet, online participation and exam performance were highly correlated. This suggests that the use of the online discussion board technology by the students enhanced the performance of students who otherwise would not have performed as well without the discussion.