The role of human cognitive processes and constructs such as psychological capital (PsyCap), wellbeing, and values in encouraging positive behavior has been extensively examined in the existing body of knowledge, especially capturing the attention of scholars and practitioners in the domains of management and organization studies. However, how these concepts interactively create positive behavior is rarely taken into consideration in scholarly discussions. Thus, the present paper aims to explore how the values professed by an organization (i.e. espoused values) could lead employees towards positive behaviors through PsyCap and wellbeing. The research setting is Sri Lankan public administrative organization (SLPAO) and the study participants are top-level managers. This study takes an interpretivist approach with a qualitative inquiry by employing a series of in-depth interviews and organizational documents, where the initial findings on espoused values of SLPAO were then subjected to a secondary qualitative framework analysis based on the theoretical lenses of CHOSE and PERMA models of PsyCap and well-being. The findings of the present study show that the public administrators’ perceived espoused values carry reflections of wellbeing and encompass the dimensions of PsyCap. Accordingly, positive emotions are reflected by the values independence and humanity & morality; engagement by service boundedness and duty consciousness; positive relations by fairness & justice and concern on employees; meaning by public inter-est and effectiveness; and accomplishment by efficiency, expertise and formality & order. The findings clearly highlight how the espoused values become a source of PsyCap, encompassing hope and optimism while also tending to the collective well-being, and thereby enhancing positive behaviors overall. The findings suggest the potential application of PsyCap and well-being to leverage espoused values as a precursor of positive behavior among public servants. Nonetheless, the study emphasizes the necessity for further scholarly endeavors to explore the intricate connections between organizational values, PsyCap, wellbeing, and positive organizational behavior.