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Psychological Capital (PsyCap), consisting of hope, efficacy, resilience, and optimism, is a positive state associated with attitudes, behaviors and performance. The purpose of this paper is to investigate a dynamic mediational model posing work engagement as the mediator of the longitudinal relation between PsyCap and job performance.

Data came from all white collar employees who responded to this study’s variables (n=420) from a comprehensive data set drawn from a large communications service company over two consecutive years. Job performance was rated at the end of each year by the direct supervisor as part of the organizational appraisal system.

Structural equation modeling analysis found that both absolute levels and increases in PsyCap predicted subsequent work engagement increases which in turn predicted job performance increases. Moreover, the mediating role of the changes in work engagement between previous PsyCap and performance change was confirmed over time.

There is much to gain in conceptualizing the relations among PsyCap, work engagement and job performance as dynamic, rather than static. The results support the conservation of resources theory, in which employees are motivated to acquire, protect and foster their valued (psychological) resources to attain successful performance outcomes, in order to create a gain cycle of resources (Salanova et al., 2010). Moreover, it provide further empirical validation for the idea that processes, like work engagement, are sustained by personal resources, and that these latter exerts mostly an indirect effect on organizational behavior outcomes (Xanthopoulou et al., 2009b).

These results are important from a practical point of view, because they point to the importance of training interventions aimed at developing and sustaining PsyCap as an important determinant of workers’ motivation and behavior within the organization. Considerable literature offers practical insights and guidelines for developing PsyCap (Luthans et al., 2006, 2015; Luthans and Youssef-Morgan, 2017).

Despite the demonstrated state-like, dynamic nature of PsyCap, its relationship with performance has mainly been statically analyzed and the role of possible mediating mechanisms largely ignored. This study begins to fill this research gap by investigating the dynamic nature of PsyCap in relation to work engagement and job performance and whether over time engagement mediates the relationship between PsyCap and job performance.

Previous literature has recognized the variability of job performance, calling attention to the inter-individual differences in performance change. Building on Murphy’s (1989) theoretical model of performance, the purpose of this paper is to verify the existence of two distinct classes of performance, reflecting stable and increasing trends, and to investigate which personal conditions prompt the inclusion of individuals in one class rather than the other.

Overall job performance was obtained from supervisory ratings for four consecutive years for 410 professionals of a large Italian company going through significant reorganization. Objective data were merged with employees’ organizational tenure and self-efficacy. Growth Mixture Modeling was used.

Two main groups were identified: the first one started at higher levels of performance and showed a stable trajectory over time (stable class); the second group started at lower levels and reported an increasing trajectory (increasing class). Employees’ with stronger efficacy beliefs and lower tenure were more likely to belong to the stable class.

Through a powerful longitudinal database, the nature, the structure and the inter-individual differences in job performance over time are clarified. The study extends Murphy’s (1989) model, showing how transition stages in job performance may occur also as a result of organizational transformation. Moreover, it demonstrates the essential role of self-efficacy in maintaining high performance levels over time.

This article investigates the relationship between family ownership and export performance in the context of SMEs while also considering the moderating role of the financial dimension and, in particular, financial constraints and financial flexibility.

We select a sample of 1,132 Italian SMEs to examine through an econometric analysis the role and impact of family ownership and the financial moderating variables being used on their export performance.

The results indicate that there is a U-shaped relationship between family ownership and export performance: the highest levels of export performance correspond to the lowest and highest family ownership levels, whereas when a mixture of family and nonfamily ownership exists, the performance suffers because of “conflicting voices” dominating strategic visions and approaches, harming the firm's export commitment. Moreover, the findings show that lower financial constraints and/or stronger financial flexibility improve the relationship between family ownership and export performance.

Our findings show that the ownership structure is important for export performance; in particular, firms should avoid a mixture between family and nonfamily ownership because it is detrimental to export performance. Moreover, Italian SMEs need to develop sources of financing other than the banking channel, and policy makers should favour this process to overcome financial constraint problems and improve financial flexibility. Limitations concern the use of other econometric approaches and measurement variables to further investigate the connection between family ownership and export performance.

The present study enhances the comprehension of the complex relationship between family ownership and export performance by documenting the relevance of the level of family ownership and considering the moderating role of financial constraints and flexibility.