This study applies social capital theory, motivation theory, and systems theories to examine the role of the learning environment and motivation in learning to encourage self-regulation in learning especially effort regulation. This study examines the relationship among learning environment (i.e., student cohesiveness, teacher support, involvement, investigation, task orientation, cooperation, and equity), learning motivation (i.e., learning goal orientation, task value, and self-efficacy), and self-regulated learning in effort regulation. This study also examines the mediating role of learning motivation on relation between learning environment and self-regulation in learning effort. Respondents were 307 students of undergraduate program on business, management, and economics in Yogyakarta and Bandung, Indonesia. Self-report questionnaires were administered to respondents during their regular class periods. Results revealed that students' perception of learning environment on all dimensions were significantly related to learning motivation and self-regulation in effort regulation. Students' perception of learning environment especially task orientation dimension was significantly influenced on three dimensions of learning motivation. The result of this study also indicated that learning goal orientation and self-efficacy are the mediating variables in the relationship model. These results supported many of the hypothesized relationships. Further explanations are discussed regarding both the expected and unexpected outcomes.