THE RELATIONSHIP BETWEEN SOCIAL CAPITAL AND PSYCHOLOGICAL WELL-BEING: THE MEDIATING ROLE OF INTERNET MARKETING

The purpose of this study is to investigate the relationship between social capital and psychological well-being through perceived social support testing social media usage as a moderator. This study is based on social capital theory, which is centred on human interaction through social support to amplify the psychological well-being. Data was collected from 368 masters' students belonging to five different campuses. Using partial least squares structural equation modelling the results reveal that perceived social support significantly mediates the link between social capital and psychological well-being, and social media usage heightens the relationship between social capital and saws social support when it is used for a social cause. Findings of the study have some practical implications on how to diagnose and prevent factors that influence the feelings of isolation and loneliness in online interactions. The results are useful for digital media users and managers in higher education distance learning institutions since social interaction might indirectly benefit virtual university students' psychological well-being by increasing the perceived social support followed by social capital. Researchers agree that using social media may help to improve students' levels of life quality if educational administrators can develop novel applications that pay close attention to individuals' social and moral support. As such, social media designers could design more entertaining features to efficiently stimulate students and other users to adopt and meet their needs for social interactions. This research has established that a simple social conversation forum app should be launched by any virtual university to bring their students together where they could feel a sense of belonging and connectedness with a slice of social support. Moreover, teachers should also have a separate informal blog where they could communicate with their students each week to overcome the lack of face-to-face interaction. The administration of virtual universities has to increase the number of face-toface gathering and seminars, i.e. it should be once in a semester rather than once in the entire study program. It will motivate the students by making references and relations with their peers. By spreading this knowledge, the students may get out of the state of isolation that will improve their performance. By demonstrating this in the higher education sector, virtual universities could reduce the service staff more intelligently through AI, and delay in response time (e.g., communication between student-to-student and student-to-teacher) could also be removed efficiently. Applying this model in virtual university settings could bring local and international students to obtain more significant social support, consequently leading to amplified psychological well-being.


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Marketing and Management of Innovations, 2020, Issue 1 http://mmi.fem.sumdu.edu.ua/en While cramming psychological well-being, the key focus is on life satisfaction and self-esteem; as it entails overall evaluation of one's environment, i.e. online and offline (Chen, 2017;Afzal, Khan, and Mujtaba, 2018). Additionally, the psychological outcome is the sense of community and feeling that members have of belonging (Burke & Kraut, 2016;Coll-Planas et al., 2017). SNSs users who are engaged in the frequent use of online learners networking feel a greater sense of connectedness (Raza et al., 2017). In the higher education sector, virtual students are found to be satisfied and motivated in their academic achievements due to online engagement forums (Malik, 2017). Use of social media technologies among virtual students in higher education aids in their quality of life and well-being through modernized connectivity mediums. The off-campus students get into social ties for their academic and social needs which lead them to heighten their psychological well-being only if they perceive social support (Arshad et al., 2014).
The social capital theory is functional in numerous contexts; in online social networks; it inspires the students of virtual establishments to build conviction through standard interfaces, stake knowledge, and help in career achievement (Chumg et al., 2016). Social media is a significant predictor of social capital when applied to university students (Ahmed et al., 2015). Siraj (2018) replicated Putnam's theory of social capital and concluded that social capital is the glue that holds these institutions as one. Putnam (2000) segregates between bridging and bonding social capital. Bridging exposed spanning the networks refer to creating connections between individuals who may provide useful information or new perspectives for one another but typically not emotional support in the virtual surroundings (Hsiao & Chiou, 2012). Whereas, bonding social capital entails to be emotionally attached to the individuals' close relationships, such as family and friends over social networking sites. Other researchers have discussed the third type of social capital about those connections who are engaged tightly through social media even after quitting the institution (Ellison et al., 2007;Li & Chen, 2014). Peer networking would uplift psychological well-being through social support (Lin, 2012). Online social support societies offer e-classrooms for students to come together online and share proficiencies to induce body of emotional and professional support which impacts psychological well-being positively (Jih-Hsin et al., 2016). Perceived social support deals in various forms; likewise, interactional feedback could heighten appraisal support among SNSs users (Xavier & Wesley, 2018). Esteem support can be articulated by appreciating a classmate's online activities, whereas companionship is expressed as appealing a new person to a social networking group (Robbins et al., 2014). The leading technologies that support communication between distance learning students are Facebook, WhatsApp, and Skype (Arif & Kanwal, 2016).
Social Capital and Psychological Well-Being. The literature validated that different types of social capital are positively associated with psychological well-being (Pang, 2018). Several preceding studies have evidenced the meaning of correlation between social capital and psychological well-being backed by social capital theory (Chen & Li, 2017;Yoo & Jeong, 2017;Lee, Chung, & Park, 2018). Students living abroad are connected to their families and friends through SNSs to maintain their well-being and avoid loneliness (Pang, 2018). The cons of employing social media technologies among students of higher education in Pakistan exert bright symptoms of their psychological well-being aspects (Yoo & Jeong, 2017). The students of Allama Iqbal Open University, Islamabad, Pakistan are found satisfied in their academic performance by using social media for virtual learning and social support (Arif & Kanwal, 2016). A study drawn from undergraduate students in a large Midwestern university in the United States by Lee, Chung and Park (2018) links social capital and psychological well-being in a significant pattern not only in offline but also in online settings. So, it is hypothesized as follows: H1: There is a significant relationship between social capital and psychological well-being. Social Capital and Perceived Social Support. The research highlighted that the stronger bridging and bonding social capital leads to maintained social capital which in turn increase perceived social support (Lemon & Wangenheim, 2009;Teng, 2017). Virtual universities deliver their course content, both 43 http://mmi.fem.sumdu.edu.ua/en synchronously and asynchronously (Gul, Ramzan, & Batool, 2017). The students in this convention show their keen interest in online forms of social capital to get appraisal support in their social ring which elevates their esteem support by injecting the feelings of companionship . Social capital is a true predictor of social support found in interpersonal social environments that become the reason of happiness and sense of belonging and support to one another (Munzel, Galan, & Waarden, 2018). All social relations and structures facilitate some forms of social capital, which moulds into perceived social support (Yang & Lin, 2017). So, it is hypothesized as follows: H2: Social capital significantly influences perceived social support. Perceived Social Support and Psychological Well-Being. Constructing upon a study which claimed that social support perception significantly predicts an individual's well-being (Lee et al., 2018). The frequency of interaction between two or more people steps in as social support and leads to improved well-being, i.e. the more the students are engaged in using social media to get strong social ties to end up in higher degree of psychological well-being (Lee, Chung, & Park, 2016). A study conducted at Midwestern University for undergraduate students confirmed that there is a positive relationship between perceived social support and psychological well-being (Oh, Ozkaya, & LaRose, 2014). Research by Wang, Zhang, and Zeng (2018) reflected the elasticity of social support with multiple meanings of social provision to aid in psychological well-being through online means in the higher education sector. By doing so, perceived social support has seemed at its positive edge, enflaming psychological well-being features (Wohn & Lampe, 2018). So, it is hypothesized as follows: H3: Perceived social support significantly influences psychological well-being. Mediating Role of Perceived Social Support. The frills of online social support are seen as a mediator by Xavier and Wesley (2018) in their study from IT employees in product-based IT companies in Chennai, India and found that online social support mediates the link between social capital and well-being. Social support on the web is approved as a manifestation of social capital by Ahmed and Ali (2017). This ingredient at the virtual university raises the level of interpersonal interactions which stocks in psychological well-being through social support supplemented by social capital (Kalhoro & Mallah, 2017). Online social ties could motivate individuals by shared values and common interests to support each other and give constructive feedback (Lee et al., 2018). Psychological well-being is found to influence the physical and mental health positively if there is sufficient measure of social support perceived through such e-rings having a prime dictum to attract and retain individuals keep spending in social capital's online fringe (Lee, Chung, & Park, 2016). So, it is hypothesized as follows: H4: Perceived social support mediates the link between social capital and psychological well-being. Moderating Role of Social Media Usage. The students' interaction through social media usage upshots in social support (Pang, 2018). A study conducted by Mahmood, Zakar, and Zakar (2018) unveiled that intensity of social media usage inclines social capital. Several studies engrossed that high quantity of social media consumption upgraded online social support by transforming weak-ties into strong-ties even in the virtual world (Charoensukmongkol, 2014;Oh, Ozkaya, & Larose, 2014). Chinese studies have uncovered the inspirations and motives about the intensity of WeChat use that has a positive association with online social support (Wang, Zhang, & Zeng, 2018). Social use of social media is positively associated with social capital (Pang, 2018). So, it is vital to use social media among virtual students to overcome the state of isolation (Sobaih & Mustafa, 2016). Integrating social media in higher education points in better performance by strengthening the connotation between social capital and perceived social support resulting in healthier psychological well-being (Burke & Kraut, 2016;. So, it is hypothesized as follows: H5: Social media usage quantity considerably moderates the link between social capital and perceived social support.

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Marketing and Management of Innovations, 2020, Issue 1 http://mmi.fem.sumdu.edu.ua/en The proposed conceptual model is built on prior findings, as presented in Figure 1. Social capital is anticipated to be significantly correlated to psychological well-being through perceived social support. Additionally, this model also attempts to understand the role of social media usage as a moderator with students at the Virtual University of Pakistan (VUP). Demographics (age and gender) are considered as control variables. Methodology and Research Methods. The model was tested through the quantitative method to validate the hypotheses. Primary data were collected through online questionnaires from master's students of five campuses of Virtual University of Pakistan (VUP) functioning in Rawalpindi and Islamabad, with a total population of 896. Self-completion questionnaire's web-link was disseminated through social media networks (Facebook, Messenger, and WhatsApp) to more than 500 currently enrolled students. Overall, 368 submissions were obtained, but nine questionnaires were excluded due to incomplete and improper responses. Remaining 359 polls were selected for final data analysis. The instruments for measuring variables were well defined and have been used in previous studies. All items were measured on a 5-point Likert scale from 1=strongly disagree to 5=strongly agree. Psychological well-being (PWB) was measured by 15 items adapted from Ellison et al., (2007) which is based on Rosenberg's (1989) research. Pang (2018) used this scale in his study in an online context. These items were then averaged together and resulted in the following standardized values: α=0.882, M=3.704, SD=0.645. Social capital (SC) was measured by 19 items validated by Williams (2006). Pang (2018)  SPSS and SmartPLS3 were used for data analyses. Psychological well-being, social capital, and perceived social support were specified as second-order constructs with three dimensions each, respectively. Repeated indicator approach was used for the measurement of second-order constructs. Different reports were created by running PLS algorithms. Firstly, outer leadings were measured to check the convergent validity and reliability of the instrument. Concurrent validity was measured by Fornell and Larker criterion (1981). Secondly, discriminant validity was measured by Heterotrait-Monotrait (HTMT) ratio of correlations. Finally, correlation analysis and path coefficients and their significance were measured to analyze the model.
First of all, the model measurement was done with the help of reliability and validity (convergent and discriminant) (Hair, Hult, Ringle, & Sarstedt, 2016). PLS algorithms were run with the purpose to calculate the outer loadings for all constructs. All uploads were considered as good as more significant than 0.7 (Henseler, Ringle, & Sinkovics, 2009). The average variance extracted (AVE) was used to measure convergent validity, and its value should be greater than 0.5 (Henseler et al., 2009). While evaluating the measurement model, some of the items were removed due to low loadings (i.e., <0.5). Five questions were deleted from the dependent variable (PWB), 2 items from the independent variable (SC), and 1 item from mediating variable (PSS) (Hulland, 1999;Ringle, Wende, & Will, 2005). The value for Cronbach's alpha and AVE for all constructs is given in Table 1. HTMT ratio of correlation was used to measure discriminant validity. Henseler, Ringle and Sarstedt (2015) described this method as a more accurate measure of efficacy as compared to the previous one. Its value should be less than 0.9, as shown in Table 2. SRMR (Standardized Root Mean Square Residual) value less than 0.10 or of 0.08 (in a more conservative version) is considered a good fit (Hu & Bentler, 1999) to check the model fitness. Henseler et al. (2014) described the SRMR as a "goodness of fit measure" for PLS-SEM that can be used to avoid model misspecification. Consequently, NFI (Normed Fit Index) value above 0.9 usually represents an acceptable fit, i.e. (NFI >0.9). The model was considered fit as SRMR value was 0.023, and NFI value was 0.988. Correlation analysis was used to test the association between variables. The value of the coefficient of correlation for all constructs for the present study is shown in Table 3. The correlation between PWB and SC was positive and significant at p< 0.01; r= 0.547**; between PWB and PSS was positive and significant at p< 0.01; r= 0.419**; between PWB and SMU was positive and significant at p< 0.01; r= 0.553**; between SC and PSS was positive and significant at p< 0.01; r= 0.808**; between SC and SMU was positive and significant at p< 0.01; r= 0.758**; and correlation between PSS and SMU was positive and significant at p< 0.01; r= 0.632**.
The present study evaluated the structural model to investigate the link between social capital and psychological well-being through the mediating effect of perceived social support applying social media usage as a moderator for supportive norms. Table 4 shows the regression results for testing the hypotheses. The outcomes show that there was a positive and significant relationship between social capital and psychological well-being (β= 0.145, p<0.05). The value of adjusted R 2 shows that 29.9% change in mental well-being is explained by social capital. The findings show that a higher level of social capital increases psychological well-being. Thus, H1 is accepted.
Social capital significantly influenced perceived social support (β= 0.236, p<0.01). The value of adjusted R 2 shows that 51.8% variation in perceived social support is explained by social capital. The findings show that vigorous time investment in social capital increases the sense of perceived social support. Thus, H2 is accepted. Consequently, perceived social support significantly influenced psychological well-being (β= 0.141, p<0.05). The value of adjusted R 2 shows that 59% change in psychological well-being is explained by perceived social support. The findings show that recognised social support mechanisms increase the mental well-being of virtual students. Thus, H3 is accepted.
The results of mediation analysis by bootstrapping technique through perceived social support depicted that perceived social support has partially mediated the relationship between social capital and psychological well-being with β= 0.133 which is significant at and p< 0.05. The value of adjusted R 2 implies that there is a 61% change in the model. Hence, H4 was supported and accepted. 47 http://mmi.fem.sumdu.edu.ua/en The moderating effect of social media usage has been examined using the product indicator approach with 359 cases and 5000 subsamples for bootstrapping (Hair et al., 2012). The results of moderation depicted that social media usage moderates the link between social capital and perceived social support with β= -0.008, which is not significant at p< 0.822. Therefore, H5 cannot be supported.
This investigation attempts to contribute to the existing literature on uncovering the underlying mechanism of the impact of social capital on the psychological well-being of virtual university students through perceived social support after controlling demographic variables. Moreover, this study modifies a theoretical model that further probed whether and how social media usage could play a crucial moderating role in the relationship between social capital and perceived social support. The findings supported all proposed hypotheses except H5, i.e. moderation. The results show that social capital had a significant definite link with psychological well-being and that the higher the flow of online social support, the higher would be the level of well-being of e-learners. In the higher education sector, the geographically dispersed candidates have the only medium to stay in touch, i.e. social media networks. Findings of the study demonstrated that once the virtual students are engaged in online rooms, they are found to overcome the feeling of isolation and loneliness with a supplementary volume of perceived social support only if they use such networks for social help and support instead of using them for entertainment and fun. The study exposed that an excessive amount of social support connects individuals in a manner that they feel themselves to be part of a broader online community, where they ask for help and guidance from their classmates. The relationship between social capital and psychological well-being was found to be significant (β= 0.145, t= 2.592, p<0.05). Hence, the hypothesis (H1) proved to be justifiable and supported. The findings revealed that social capital in the online setting has a significant positive bonding predicted in virtual students' psychological well-being. Individuals need to form intimate relations to achieve some goals that are possible only after getting some guidance. For this, they are found interacting with each other about their official and personal issues. The results of this study were following prior studies (Pang, 2018). The results concluded that satisfaction with the quality of life at VU is quite tricky as compared to face-to-face interaction in higher education institutions. But still, they strive hard to get at least some sense of belonging. That is how they are folded in a collaborative learning system to fulfil their social needs (e.g., needs of intimacy and social relationships). Without this picture, the students' emotional attachment to their organization will be reduced, which in turn affects their performance and may figure in drop-out ratio. The association between social capital and perceived social support was found to be significant (β= 0.236, t= 5.796, p<0.01). Thus, hypothesis (H2) was accepted. The findings declared that when students perceived that they are emotionally attached to and identify with their social networking sites, they are more likely to strengthen their intention to invest more in social capital. This surely equips them to have more informational and emotional support. The results of the present study were consistent with prior studies (Lee, Chung, & Park, 2016). According to these findings, it is concluded that virtual students who perceived high chances of social relationships in online societies are more likely to be happy and motivated.
Additionally, when high school acquaintances adequately fulfilled the social needs of students, they are found more committed to the association in online structure. The results of SmartPLS3 path model (β= 0.141, t= 2.327, p<0.05) indicated statistically significant effects that perceived social support is positively associated with psychological well-being. Therefore, our hypothesis (H3) was accepted and affirmed that virtual students who experience loneliness due to insufficient social connection or feelings of being withdrawn or isolated are more likely to draw from their subjective experiences. These perceptions would affect their well-being. The results of this study aligned well with the results of , who proposed and found that perceived social support is positively related to psychological well-being in higher education distance learning institutions. The ties were found significant only if the students got the adequate measure of social support which ends in a step ahead in the outline of virtual students'

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Marketing and Management of Innovations, 2020, Issue 1 http://mmi.fem.sumdu.edu.ua/en psychological well-being. As stated by these findings, it is concluded that social support is must, not only in face-to-face contact but also in the on-line continuum to inspire psychological well-being significantly.
The results of this present study accepted the extrapolation that perceived social support plays a mediating role between social capital and psychological well-being. The results of the mediation analysis indicated that perceived social support partially mediates the relationship between social capital and psychological well-being (β= 0.133, t= 2.126, p<0.05). So, the hypothesis (H4) was accepted. The results were aligned following the previous findings (Lee, Chung, & Park, 2016). Based on the results, it is inferred that when students fail to satisfy their social needs due to unsupportive environment, they are more likely to experience loneliness which in turn lowers their morale. Additionally, social capital not only affects the psychological well-being, but it also affects the mediating variable (perceived social support). Therefore, perceived social support subsequently leads to positive, significant and favourable consequences. This study hypothesized and predicted that social media usage would moderate the link between social capital and perceived social support which ultimately supplements psychological well-being. The results for moderation analysis (β= -0.008, t= 1.174, p= 0.240) did not support the hypothesized interaction. Hence, the last hypothesis (H5) was proved to be not accepted.

Figure 2. Path Analysis of Research Framework
Source: developed by the authors.
The results of the study directed that social media usage foster the feelings of connection and belongingness in virtual students. They resulted in favourable attitudes and behaviours by replacing the state of isolation with a team-based environment when it is used for supportive norms. According to these results, it is concluded that when a student demonstrates love, care, concern, and empathy for the wellbeing of others, such effort will make others feel that their virtual colleagues value them, then they will reciprocate by reducing the loneliness spirits toward themselves and others. Moderation effect of social media usage on social capital and perceived social support is considered among the students of higher education sectors when they spend time in such e-channels for collaborative and innovative learning goals as well as the primary social requisites. Moderation effect was found to be insignificant when the students use social media only for entertainment. As the issue of social support is concerned, the students were found interrelating with each other chiefly via; Facebook, Messenger, and WhatsApp. The administrators of such web-pages/groups mentioned the aim of these social media links that are supposed to be used for social and moral support devotions. Still, ominously most of the students switched to these channels Legend for entertainment and fun, which results adversely. The findings were aligned with, and, supported by the prior literature (Pang, 2018). The current study concentrates on the role of perceived social support in an online context by using different forms of social media for support mechanisms among virtual students. This study extends the line of work by exploring how social support may lead to overcoming the feelings of isolation and dispersion in the digital domain (Burke & Kraut, 2016;Chen & Li, 2017;Pang, 2017). The conceptual framework of this study is an attempt to add in the literature of psychological well-being complemented by perceived social support in the higher education sector. The theoretical framework used in this study has not been tested in virtual students' context, which is a vigorous contribution. This study provides in-depth knowledge of social capital and its impact on virtual students' psychological well-being. Moreover, the literature of social and psychological effects of perceived social support in the online context is augmented. From a practical perspective, the findings offer some useful implications for digital media users and managers in higher education distance learning institutions. The results indicate that social interaction on SNSs could indirectly benefit virtual university students' psychological well-being by increasing the perceived social support followed by social capital. Hence, using social media may help to improve students' levels of life quality if the university management can develop novel applications that pay close attention to individuals' social and moral support (e.g., mentoring or coaching) (Yoo & Jeong, 2017;Yuan et al., 2018;Afzal, Khan, and Mujtaba, 2018). Social media designers could design more entertaining features to efficiently stimulate users to adapt and meet the needs of social interactions (Zhan et al., 2016;Yuan et al., 2017).

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The results of the present study provide understanding for future research directions and possible measures on how organizations (e.g., virtual universities) diagnose and prevent factors that influence the development of lonesomeness, solitude, high dropout ratio, and less enrolment. This study lays out several limitations that should be noted for future research. Firstly, the targeted sample was collected from a specific population, i.e., five campuses of the Virtual University of Pakistan, while future research should consider collecting data from other regions. Secondly, the cross-sectional nature of the study and use of convenient sampling would hinder chances to extend the generalizability of findings. The reason behind this limitation is time and recourses constraints. Therefore, a longitudinal or experimental study could be used to collect data for future research. So, detailed and extensive causal relationships among study variables can be achieved because this study was quantitative correlational research. Thirdly, all data were collected from students. Future study should emphasize collecting data from teachers as well. Pakistan is a country where electricity shortage and poor internet quality is countered more in rural areas as compared to urban areas. So, future research may be done with a comparative study that how rural areas' students cope with their problems and how much they have to bear to take an active part in online socialization on an equal ground along with those students who are from metropolitan cities.
Conclusion. This study is an attempt to add in the literature on the social and psychological effects of social support by examining the mechanisms involved in the relationship between social capital and mental well-being. The distinct and potential character of the mediating role of perceived social support was tested. Prominently the empirical results of perceived social support could benefit virtual university students both in communal and psychological well-being in an innovative and collaborative e-learning team-based environment. Moreover, it is confirmed by the hypothesized model that social capital has a significant definite link with psychological well-being using perceived social support as mediator. More importantly, the association of social media usage as a moderator between social capital and perceived social support was found to be insignificant if entertainment takes place on social media rather than socialization among the dispersed virtual students. The outcomes of this study revealed that virtual students prefer to be engaged in online socialization to feel part of a broader community and avoid the state of loneliness, isolation, and detachment caused due to distance learning. The study is concluded 50 Marketing and Management of Innovations, 2020, Issue 1 http://mmi.fem.sumdu.edu.ua/en with a beam of hope that it will provide new insight to distance learning institutions by offering practical and theoretical perceptions for supportive mechanisms. Author Contributions. S. A conceptualized the study. All authors contributed equally to the development of the research, the literature, data collection, research methodology, analysis, and concluding sections.