TABLE 4.

Effect of cognitive biases (Anchoring bias and Optimism bias) on investment decision making (DM) via mediating role of Risk perception.

Y (output)	Mediator	Model	B	SE	T	p	LLCI-ULCI
Investment decision making (DM)	Risk perception (RP)	Anch → RP (path a)	0.6867	0.0410	16.7837	0.000	0.7335–0.9571
		RP → DM (path b)	0.7835	0.0791	9.9008	0.000	0.2737–0.5316
		Anch → DM (path c)	0.6670	0.0717	9.3036	0.000	0.8276–1.0551
		Anch → DM (path c′)	0.4621	0.0565	8.1788	0.000	0.4498–0.7522
		Indirect effect of RP	0.5387	0.738			0.4045–0.6937
		Opt → RP (path a)	0.8453	0.0567	14.9067	0.000	0.7335–0.9571
		RP → DM (path b)	0.4026	0.0654	6.1550	0.000	0.2737–0.5316
		Opt → DM (path c)	0.9414	0.0577	16.3199	0.000	0.8276–1.0551
		Opt → DM (path c′)	0.6010	0.0767	7.8385	0.000	0.4498–0.7522
		Indirect effect of RP	0.3403	0.0693			0.2079–0.4777