Effective nuclear charge (Z_eff) refers to the net positive charge experienced by an electron in a multi-electron atom. It takes into account the total positive charge of the nucleus and the shielding effect caused by inner-shell electrons, leading to a reduced attraction felt by outer-shell electrons. Understanding Z_eff is crucial for explaining atomic properties such as ionization energy, electron affinity, and the nature of bonding in atoms, particularly in the context of valence bond theory and hybridization.