This study focused on the following two objectives. The main objective of this study was to verify causal relationship among stressors(organizational antecedents to stress), job stress, and organizational effectiveness. In addition to this we investigated the possibility that characteristics of the individual and property of the situation can moderate the effects of stressors. The data were collected from 454 blue-color workers in small and medium sized manufacturing companies. The results of covariance structure analysis of the hypothetical model which contained 7 exogenous variables(physical environment, supervisors' management style, intra- and inter-group conflict, shift working, role conflict, role ambiguity, role overload) and 3 endogenous variables(job stress, job satisfaction, and job performance) suggested a good fit between the hypothetical model and the data(GFI=.957, AGFI=.947, NFI=.937). To testify the effects of moderating variables, the incremental contribution of R2 provided by interaction terms add to the model was evaluated. The results revealed that the incremental change in R2 of some interaction terms are significant, however, magnitude of the explained variance was small. The implication, some possible limits, and the future directions of the present study were discussed.