In the present situation speculation is the most significant in everybody’s life. The financial specialists dependably lean toward the venture roads as indicated by their reasonableness, hazard and the arrival in light of the fact that there are diverse speculation roads accessible in the market. Thus, the present study focuses on the relationship between the behavioral biases and risk tolerance of the investors and the relationship between the behavioral biases and the investment decisions of the investors. The data was collected from 500 investors who invest through LSC Securities Ltd. in Punjab by using a structured questionnaire. Multiple regression tests were applied through SPSS to test the significance of relationship among variables and SPSS Process Macro by Andrew. F. Hayes was used to test the mediation among behavioral biases and investment decisions. The study found the relationship between risk tolerance, behavioral biases and investment decisions to be statistically significant.
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