Linking ESG-Investing Consciousness, Behavioral Biases, and Risk-Perception: Scale Validation with Specifics of Indian Retail Investors

The research focuses on the calibration and measurement of relationship between selected behavioural biases risk perceptions Indian retail investors, as well its ultimate implications equity investment decisions. Further, it examines association factors to non-financial determinants such ESG investing consciousness. leveraged a structured questionnaire for data collection across 438 samples. EFA factor-extraction and assessing dimensional validity; CFA understanding factor structure, validity & reliability latent variables; AMOS-based SEM establishment path analysis structural causal relationships amongst variables are used study. study confirms significant impact perception decisions establishes a link selected study perceived risk. findings also indicate statistically consciousness perception investors. there is confirmation negative moderation effect investors’ risk, indicating that higher weakens positive investors’ perception.