ESG (Environmental, Social, and Governance) responsibility fulfillment increasingly affects enterprise valuation. Although researchers debate about the precise effects, the prevailing view suggests a linear relationship between ESG performance and enterprise value. This study introduces a novel ESG responsibility performance metric through the Regulated Intermediary Model to delve into this relationship within the Chinese context. Our findings reveal an inverted U-shaped relationship between ESG performance and enterprise value, with financing constraints having a significant moderating effect. These findings remain robust after employing instrumental variables to mitigate potential endogeneity. Heterogeneity analysis demonstrates that this inverted U-shaped relationship is particularly pronounced in non-polluting and non-state-owned enterprises. Moreover, a comparison between equity and debt financing mechanisms underscores that improved ESG performance is associated with lower cost of equity financing, thereby enhancing enterprise value. Financial institutions are encouraged to leverage innovative financial instruments to diversify enterprise financing channels and alleviate financing constraints of enterprises that fulfill their ESG responsibilities.

Understanding how industrial agglomeration affects agricultural green production efficiency is essential for green agricultural development. This study uses the super-efficient EBM-GML to measure and analyze the spatial and temporal evolution characteristics and core sources of dynamics of agricultural green production efficiency in China by using panel data from 30 Chinese provinces from 2006 to 2020. It also empirically investigates the relationships between industrial agglomeration, land transfer, and agricultural production efficiency. By using fixed, intermediary, and threshold effects models, the internal links between the industrial agglomeration, land transfer, and agricultural green production efficiency are examined. The findings indicate that the green production efficiency of Chinese agriculture exhibits the regional characteristics of being “high in the west and low in the east, high in the south and low in the north” in terms of space; in terms of time series, the overall trend is that of growing, with an average annual growth rate of 11.45%, and the growth primarily depends on the “single-track drive” of green technological progress. By promoting land transfer, industrial agglomeration can increase the agricultural green production efficiency and decomposition index. Land transfer has a double-threshold effect on the influence of industrial agglomeration on agricultural green production efficiency. As a result, this study suggests adhering to the idea of synergistic development, promoting agricultural green development, strengthening the development of industrial agglomerations, promoting the quality and efficiency of industry, improving land-transfer mechanisms, and placing a focus on resource efficiency improvements, as well as other policy recommendations.

Australia has recently declared its commitment to a circular economy. Policy and initiatives to date have focused on recycling and waste management and research to date has highlighted the need for more ambitious policy, clearer definitions, collaboration, and consensus on goals. There are also calls from some government and non-business sectors for more inclusive circular models, including Doughnut Economics. In a context of competing mainstream circular economy and inclusive circular society discourses, circular intermediary organizations and their representatives are key to achieving change. Compared to the green growth business narrative of policy and industry media, intermediary representatives are aware of the diversity of challenges and solutions for Australia. Based on semi-structured interviews with twenty representatives of circular intermediaries in Australia and thematic discourse analysis, this study finds circular economy, circular society and de-growth discourses informing themes about government, business, growth, consumers, society, and policy present and future. The study concludes with recommendations for a more holistic policy and practice beyond the current circularity for circularity’s sake.