Intellectual capital, labour productivity and SME competitiveness in an emerging economy: exploratory evidence from Tunisia

Empirical evidence on intellectual capital (IC) in North African SMEs remains scarce. This study provides the first VAIC exploratory evidence from Tunisian SMEs, assessing the contribution of each IC component to labour productivity as a measure of competitive performance. In an exploratory cross sectional design, VAIC efficiency ratios (CEE, HCE and SCE) are derived from audited financial statements for a non-probability convenience sample of 21 Tunisian SMEs and regressed on labour productivity using OLS with robust standard errors. An integrated accounting and managerial IC framework is developed. The model is globally not significant, so interpretation rests on effect sizes and 95% confidence intervals rather than p-values alone. Directionally, human capital efficiency shows the strongest association with labour productivity, followed by structural and then capital employed efficiency, consistent with VAIC evidence from comparable contexts. The convenience sample limits confirmatory inference and risks selection bias; approximately 80 firms are required to detect effects of the observed magnitude. Future research should adopt a longitudinal design and the MVAIC framework. If corroborated in adequately powered samples, the pattern suggests that SME managers should prioritise human capital investment, including training and talent development, and that policymakers should incentivise IC development in Tunisian SMEs. The study illuminates how IC dynamics in emerging markets differ from developed economies, informing MENA policy. This paper offers the first VAIC evidence from Tunisian SMEs, a dual paradigm IC framework, and an indicative minimum sample size for future MENA research.