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Psychological CapitalDeveloping the Human Competitive Edge$
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Fred Luthans, Carolyn M. Youssef, and Bruce J. Avolio

Print publication date: 2006

Print ISBN-13: 9780195187526

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780195187526.001.0001

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Measurement and Development of PsyCap

Measurement and Development of PsyCap

Assessing the Return on Investment

Chapter:
(p.207) CHAPTER 8 Measurement and Development of PsyCap
Source:
Psychological Capital
Author(s):

Fred Luthans (Contributor Webpage)

Carolyn M. Youssef (Contributor Webpage)

Bruce J. Avolio

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780195187526.003.0008

This final chapter first summarizes the existing published measures of efficacy, hope, optimism, and resiliency and then presents the recently developed 24-item psychological capital questionnaire (PCQ). This is followed by a recap of the research evidence to date on the positive relationship between the PsyCap measure and work-related outcomes. The major portion of the chapter is devoted to the developmental guidelines for PsyCap, and the recent psychological capital intervention (PCI) model is presented. Detailed attention is given to assessing the return on PsyCap investment by using utility analysis on a variety of examples and specifically a PsyCap training intervention study that yielded a 270 percent return. The concluding sections recognize potential limitations and pitfalls and future implications and directions for research and practice.

Keywords:   psychological capital intervention, psychological capital measurement, PsyCap performance, PsyCap questionnaire, return on investment, utility analysis

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