E-learning in corporate training has been growing rapidly because of the pursuit of time and budget efficiency in course development and delivery. However, according to previous studies, efficiency does not always guarantee training effectiveness, which is the major concern of human resource development. It is therefore necessary to identify the factors influencing the effectiveness of e-learning courseware and understand their interrelationships. The purpose of the study is to investigate the structural relationships among organisational support, learning flow, learners' satisfaction and learning transfer. The study participants were 379 learners who completed an e-learning courseware at a large Korean company and responded to an online survey. Based on the results of structural equation modelling, the findings suggest that organisational support and learning flow have direct effects on learning transfer and learners' satisfaction, while learning flow mediates organisational support and learners' satisfaction.