Psychological Capital

Dóci, Edina [UCL]

This entry discusses ‘psychological capital’ and critically examines the prevailing research discourse surrounding the concept within the fields of Work and Organizational Psychology, and Organizational Behavior. It highlights the limitations of the current research approach, which tends to individualize and instrumentalize psychological capital, focusing on dominant groups' experiences and disregarding the influence of broader societal structures and contexts. The entry discusses novel work introducing a socio-psychological perspective that considers collective processes and social inequalities shaping psychological capital development. The article calls for interdisciplinary dialogues to bridge the gap between various strands of literature on hope, optimism, resilience and self-efficacy, the constituents of psychological capital. It concludes by urging a shift towards a counter-framework that prioritizes societal well-being, social justice, and the eradication of inequalities in an beyond organizations.