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Purpose - The purpose of this study is to analyze the impact of corporate Human Resource Development (HRD) investment efforts on training effectiveness, based on the structural and behavioral perspectives of Social Exchange Theory and the human resource process model, and to empirically examine the moderating role of HRD department competency in this relationship.

Design/methodolgy/approach – This study draws on data from the first wave (2017) of the Human Capital Corporate Panel, administered by the Korea Research Institute for Vocational Education and Training.

Descriptive statistics and correlation analyses were conducted using SPSS 26.0 to examine the characteristics of the variables and their interrelationships. To ensure the reliability and validity of the measurement instruments, Cronbach’s alpha coefficients and exploratory factor analysis were employed. The proposed hypotheses were tested through hierarchical regression analysis. Independent and moderating variables were entered in successive steps to assess incremental explanatory power and to examine potential interaction effects.

Findings – The main findings of this study are as follows. First, corporate HRD investment efforts had a significant positive effect on training effectiveness. Second, the analysis of the moderating effect of HRD department competency revealed that this relationship was further strengthened in organizations with a dedicated HRD department, confirming a significant moderating effect of HRD departmental structure. Third, in a sub-hypothesis testing the moderating effect of HRD department competency, the relationship was also reinforced in organizations with formally established HRD plans, indicating that the presence of such plans serves as an additional significant moderating variable.

Research implications or Originality – This study expands the theoretical scope of HRD research by redefining the HRD department, based on Social Exchange Theory and the human resource process model, as a strategic implementation unit that strengthens the exchange relationship between the organization and its members. In particular, it highlights that, in the context of the growing prevalence of AI-based learning environments, HRD implementation competency functions as a key boundary condition that enhances the effectiveness of HRD investments. These findings offer both theoretical and practical implications for strategic HRD implementation.

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(The) effects of patent quality on cost of debt : evidence from Korea Yun-jeong Lee, Kyunga Na p. 43-59
(The) impact of ESG performance on corporate green innovation : financial constraints as a mediator and R&D intensity as a negative moderator Pei-Lin Shi, Sang-Ryul Lee p. 61-81
(The) effects of ESG performance on stock price according to the firm’s characteristics Chang-Rae Park, Eun-Jung Yeo p. 83-111
When virtual influencers feel real : the role of social presence in shaping mimetic desire and behavioral intentions Sangmi Jeon p. 113-130
(The) economic effect of hallyu content on K-beauty exports : focusing on the Asia-Pacific region Byong-Cheol Kim p. 131-144
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