The Catholic church is basically a corporation, where the cardinals (the board) elect a non-hereditary emperor (the CEO). Theories of the firm have modeled idea

The Catholic church is basically a corporation, where the cardinals (the board) elect a non-hereditary emperor (the CEO). Theories of the firm have modeled ideas about corporate governance on the success of this structure. In the past this catholic firm raised armies, held large areas of Italy as the papal states and still today are considered to be a sovereign entity.