Fig. 6: Linear Trend of Marginal Effects of CD on ESG for GLCs and Non-GLCs.

(Note: the figure illustrates the linear trends in the marginal effects of CD on ESG across varying levels of Government-Linked Corporation presence. The steeper positive slope for GLCs (solid line) compared to non-GLCs (dashed line) signifies a more substantial incremental improvement in ESG performance per unit increase in CD for GLCs. Data visualization was performed using Stata 17).