Psychological capital : review and development

Abstract

Psychological capital (PsyCap) is a positive state-like construct consisting of self-efficacy, hope, optimism and resilience. To date, theory and research have supported PsyCap as an emerging core construct impacting positive organizational outcomes. However, current studies have mostly offered development strategies that focus on individual capacities, rather than the PsyCap construct as a whole. Such studies, while helpful, do not support the higher-order and synergistic aspects of PsyCap. Applied in organizations, individual capacity intervention will render more time and result in inefficiency. To fill these gaps, this literature review aims to propose a more efficient approach to developing PsyCap as a whole. This literature reviews the theoretical support for PsyCap, PsyCap’s relationship with performance and the developmental approaches for individual capacities. Revised developmental dimensions are proposed with the integration of factual (non-fictitious) intervention. Potential limitations and implications conclude this review.

Keywords: PsyCap, self-efficacy, hope, optimism, resilience, factual intervention