An individual’s positive psychological state of development and is characterized by having confidence to take on and put in the necessary effort to success in challenging tasks, making positive attribution about succeeding now and in the future, persevering toward goals and, when necessary redirecting paths to goals in order to achieve success, and when beset by problems and adversity, sustaining and bouncing back and even beyond to attain success. Psychological capital consists of self-efficacy, optimism, hope, and resilience.
Luthans, F., Youssef, C.M & Avolio, B.J. (2007). Psychological Capital. New York: Oxford University Press.