The Effect of EMA and CSR Costs on BOPO Mediated by GRI 11-Based CSR Disclosure: Pertamina Group 2020–2025

Abstract

This study investigates the impact of Environmental Management Accounting (EMA) and CSR Cost Allocation on BOPO Efficiency, with GRI 11 Disclosure acting as a mediating variable, at the Pertamina Group during the 2020–2025 period. The analysis method employed is Structural Equation Modeling–Partial Least Squares (SEM-PLS). The findings from the empirical investigation indicate that the integration of EMA and CSR Cost Allocation is accountable for 63.8% of the variation in GRI 11 Disclosure, as indicated by R² = 0.638. This integration exhibited positive and statistically significant direct effects, β = 0.521 (p = 0.000) and β = 0.348 (p = 0.000), respectively. . In contrast, the direct impact of CSR Cost Allocation on the BOPO ratio was found to be relatively robust (β = -0.214, p = 0.023). The findings of the mediation test demonstrated that GRI 11 Disclosure functions as a complete mediator in the association between EMA and BOPO, with an indirect effect coefficient of β = -0.303 (p = 0.000). Meanwhile, in the relationship between CSR Cost Allocation and BOPO, GRI 11 Disclosure acts as a partial mediator, with an indirect effect coefficient of β = -0.202 (p = 0.000). These findings serve to reinforce the theoretical integration between the Resource-Based View and Legitimation Theory, affirming that transparency in sector-based reporting has the capacity to transform internal capabilities and social expenditures into key drivers of long-term operational efficiency.