NHH was founded in 1936. With its affiliated institutes SNF and AFF, NHH constitutes the oldest and largest centre for research and study in the fields of economics and business administration in Norway. NHH strives to be amongst the foremost in Europe within its fields, maintaining its long held belief that excellence in research is a prerequisite for excellence in teaching. The school has over 3000 students and around 400 employees. The vast majority of the academic staff hold PhDs, and the faculty includes NHH Alumni and Nobel Prize Laureate in Economics, Professor Finn E. Kydland.