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The constant increase of municipal solid wastes (MSW) as well as their daily management pose a major challenge to European countries. A significant percentage of MSW originates from household activities. In this study we calculate the costs of setting up and running a zero-waste mortar-producing (ZWMP) process utilizing MSW in Northern Greece. The process is based on a thermal co-processing of properly dried and processed MSW with raw materials (limestone, clay materials, silicates and iron oxides) needed for the production of clinker and consequently of mortar in accordance with the Greek Patent 1003333, which has been proven to be an environmentally friendly process. According to our estimations, the amount of MSW generated in Central Macedonia, Western Macedonia and Eastern Macedonia and Thrace regions, which is conservatively estimated at 1,270,000 t/y for the year 2020 if recycling schemes in Greece are not greatly ameliorated, may sustain six ZWMP plants while offering considerable environmental benefits. This work can be applied to many cities and areas, especially when their population generates MSW at the level of 200,000 t/y, hence requiring one ZWMP plant for processing.

In this paper the authors examine the relationship between CSR (Corporate Social Responsibility) performance and earning management in the banking industry from 2008 to 2012 having a specific focus on managerial behaviour and its impact on banks' reputation. They propose that when managers opportunistically engage in CSR, they will also engage in opportunistic earnings management but if they engage in CSR practices because it is the socially ‘right thing to do' then earnings will better reflect banks' true economic performance. Finally, they expect that when bank managers recognize the importance of societal trust they use their discretion to regain trust and to rebuild reputation. Their results show that in general, banks that perform high on CSR indicators behave more transparently with regard to the presentation of earnings. Banks that engage in CSR activities to improve their reputation, use managerial discretion to show socially desirable earnings numbers. For banks that value their reputation, pursuing societal trust is more important than the fulfilling of self-interest.

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