How Psychological Capital Sustains Hospitality Employee Well-Being: Through Motivational and Relational Resources

Drawing on Conservation of Resources theory (COR), the study conceptualizes PsyCap as a personal resource caravan and proposes a resource investment sequence in which PsyCap relates to workplace well-being through job embeddedness and work engagement. This study further argues that leader-member exchange (LMX) serves as a resource caravan passageway, strengthening the conversion of PsyCap into these resources. The findings of the study suggest that PsyCap was positively associated with workplace well-being. The findings were also consistent with indirect associations through job embeddedness and work engagement, and a serial association through both. LMX strengthened the relationship between PsyCap and embeddedness specifically. This study integrates psychological, motivational, and relational resources within a single COR-based framework.