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This paper describes three species of Herpothallon new to science from southern China: H. glaucescens, H. lilacinum and H. tomentosum. The three species all possess a non-pigmented thallus, hypothallus and prothallus. Herpothallon glaucescens has a white, whitish grey to greyish green thallus and swollen, subglobose to ± vermiform pseudisidia, rounded at the top. Herpothallon lilacinum has subglobose or irregularly cushion-shaped, fluffy-felty pseudisidia, white at the base, lilac to lilac grey at their tips. Herpothallon tomentosum has globular pseudisidia, felty with many projecting hyphae, sometimes containing a central pycnidium. Detailed descriptions for all three new species are provided with an updated key to the genus Herpothallon in China. Additionally, a phylogenetic tree based on Bayesian and ML analyses of mtSSU data shows the position of the new species in Herpothallon.

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Private firms have been struggling to simultaneously achieve both environmental and economic goals. The concept of eco-efficiency captures the extent to which firms gain competitiveness through environmental management. Based on stakeholder salience theory and organizational learning theory, this study proposes that relationship with public stakeholders can hinder or promote private firms’ eco-efficiency. Our findings showed that firm eco-efficiency is reduced by a relationship with the government but is enhanced by relationships with non-governmental organizations (NGOs). This study also found that the effects on eco-efficiency of a firm’s relationship with public stakeholders are contingent on firm size. The findings of this study shed light on the organizational learning perspective of eco-efficiency and multi-stakeholder management by theoretically and empirically differentiating the effects on firm eco-efficiency of relationships with the government and NGOs.