Development and Validation of Psychological Capital Scale for Dual Role Individuals: Further Evidence of Psychometric Properties

Abstract

The current study aimed to develop and validate the measure of psychological capital (Pychological Capital Scale; PCS)) for dual roles individuals. A conceptual referent theory of positive psychological capital anticipated by Luthans et al. (2004) guided for development of the instrument. Further, factor analysis and reliability of PCS were determined on the sample of 150 dual-role individuals belonging to various educational institutes, government and private organizations, hospitals, software houses, and private firms of Punjab. Additionally, 21 items of the PCS were subjected to principal component analysis and emerged four factors. Each item loaded at above .45 on four factors, labeled as Goal orientation (7 items; 31.07% variance), Optimism (6 items; 8.09% variance), Self-efficacy (5 items; 7.17% variance), and Resilience (3 items; 6.08% variance). The scale items exhibited a high level of internal consistency, which was supported by the reliability estimates of the alpha coefficient (?=.89) and item-total correlation (ranging from .29 to .62, p<.05). The construct validity of the instrument was established with a Positive Psychological Capital (PPC) Scale (Luthans et al., 2004) and a Stress Scale (subscale of Depression, Anxiety, and Stress Scale-21 (DASS-21) (Osman et al., 2012) on the sample of dual-role individuals. Additionally, confirmatory factor analysis of the measurement model indicated a four-factor solution for measuring psychological capital. Furthermore, the reliability and validity analyses of the scale demonstrated its high reliability and validity in assessing the level of psychological capital in individuals with dual roles. The scale's psychometric properties are further examined, along with limitations and suggestions.