Research Article

INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911

Volume: 24 Number: 1 March 21, 2026
EN TR

INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911

Abstract

This article examines the century-long (1811-1911) institutional continuity and business model transformation of the Levantine firm C. Whittall & Co. in Ottoman İzmir (Smyrna) using a business history approach. It shows how the company transitioned from an import-led start to an export-oriented trade by the mid-nineteenth century, seeking lower risk and more predictable returns. In the late nineteenth and early twentieth centuries, it expanded into production and manufacturing in specific areas, including valonia tanning extracts, cottonseed oil, and dried-fruit operations, creating a hybrid trade-manufacturing model. Based on the firm’s 1912 centenary booklet and family/corporate archives, the study finds that continuity depended on more than generational succession: disciplined record-keeping, reputational capital, an expanding agency/branch network, and tighter control of logistics (transport and shipment) were central. Capitulations and consular protection are treated as an uncertainty-reducing institutional framework rather than simple privileges.

Keywords

References

  1. Alff, K. (2017) “Levantine Joint-stock Companies: Trans-Mediterranean Partnerships and Nineteenth-Century Capitalist Development”, Comparative Studies in Society and History, 60(1), 150-177.
  2. Barkey, K., and Gavrilis, G. (2018) “The Ottoman millet system: Non-territorial autonomy and its contemporary legacy” In Non-Territorial Autonomy in Divided Societies, 24-42, Routledge.
  3. BOA-Ottoman Archival Sources (1885) “Bâbı Âlî Evrak Odası (BEO)”, 667 – 49952, (12.08.1885).
  4. BOA-Ottoman Archival Sources (1909) “Bâbı Âlî Evrak Odası (BEO)”, 3533 – 264927, (11.04.1909).
  5. BOA-Ottoman Archival Sources (1909) “Bâbı Âlî Evrak Odası (BEO)”, 3566 – 267401, (05.06.1909).
  6. BOA-Ottoman Archival Sources (1887) “Hariciye Nezareti Hukuk Müşavirliği İstişare Odası Evrakı (HR. HMŞ. İŞO)”, 157 – 13, (23.06.1887).
  7. BOA-Ottoman Archival Sources (1883) “Hariciye Nezareti Hukuk Müşavirliği İstişare Odası Evrakı (HR. HMŞ. İŞO)”, 166 – 10, (10.05.1883).
  8. BOA-Ottoman Archival Sources (1890) “Hariciye Nezareti Hukuk Müşavirliği İstişare Odası Evrakı (HR. HMŞ. İŞO)”, 174 – 32, (04.06.1890).

Details

Primary Language

English

Subjects

Finance

Journal Section

Research Article

Publication Date

March 21, 2026

Submission Date

January 3, 2026

Acceptance Date

February 22, 2026

Published in Issue

Year 2026 Volume: 24 Number: 1

APA
Serdaroğlu, Ü. S. (2026). INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911. Journal of Management and Economics Research, 24(1), 246-273. https://doi.org/10.11611/yead.1855310
AMA
1.Serdaroğlu ÜS. INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911. Journal of Management and Economics Research. 2026;24(1):246-273. doi:10.11611/yead.1855310
Chicago
Serdaroğlu, Ü. Serdar. 2026. “INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911”. Journal of Management and Economics Research 24 (1): 246-73. https://doi.org/10.11611/yead.1855310.
EndNote
Serdaroğlu ÜS (March 1, 2026) INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911. Journal of Management and Economics Research 24 1 246–273.
IEEE
[1]Ü. S. Serdaroğlu, “INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911”, Journal of Management and Economics Research, vol. 24, no. 1, pp. 246–273, Mar. 2026, doi: 10.11611/yead.1855310.
ISNAD
Serdaroğlu, Ü. Serdar. “INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911”. Journal of Management and Economics Research 24/1 (March 1, 2026): 246-273. https://doi.org/10.11611/yead.1855310.
JAMA
1.Serdaroğlu ÜS. INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911. Journal of Management and Economics Research. 2026;24:246–273.
MLA
Serdaroğlu, Ü. Serdar. “INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911”. Journal of Management and Economics Research, vol. 24, no. 1, Mar. 2026, pp. 246-73, doi:10.11611/yead.1855310.
Vancouver
1.Ü. Serdar Serdaroğlu. INSTITUTIONAL CONTINUITY AND BUSINESS MODEL TRANSFORMATION: THE CASE OF C. WHITTALL & CO. IN OTTOMAN İZMIR (SMYRNA), 1811-1911. Journal of Management and Economics Research. 2026 Mar. 1;24(1):246-73. doi:10.11611/yead.1855310