From the GLSL spec 1.017
5.11 Vector and Matrix Operations
With a few exceptions, operations are component-wise. When an operator operates on a vector or matrix, it is operating independently on each component of the vector or matrix, in a component-wise fashion.
...matrix multiplied by vector, vector multiplied by matrix, and matrix multiplied by matrix. These do not operate component-wise, but rather perform the correct linear algebraic multiply. They require the size of the operands match.
vec3 v, u;
mat3 m;
u = v * m;
is equivalent to
u.x = dot(v, m[0]); // m[0] is the left column of m
u.y = dot(v, m[1]); // dot(a,b) is the inner (dot) product of a and b
u.z = dot(v, m[2]);
And
u = m * v;
is equivalent to
u.x = m[0].x * v.x + m[1].x * v.y + m[2].x * v.z;
u.y = m[0].y * v.x + m[1].y * v.y + m[2].y * v.z;
u.z = m[0].z * v.x + m[1].z * v.y + m[2].z * v.z;
or also
u = v.x * m[0] + v.y * m[1] + v.z * m[2];