The Stockholm School of Economics (SSE) or Handelshögskolan i Stockholm is one of Northern Europe's leading business schools. Its Masters in Management program is ranked no. 2 in Northern Europe and no. 13 in Europe by the Financial Times. SSE was founded by members of the Swedish business community in 1909 as a response to rapid industrialization and a growing need for well educated businessmen and company managers and has maintained close ties with the business community ever since. SSE is a private business school that receives 85% of its financing from private sources. The School is fully accredited by EQUIS (European Quality Improvement System) certifying that all of its main activities – teaching as well as research – are of the highest international standard. SSE is also the Swedish member institution of CEMS (The Global Alliance in Management Education), together with universities such as LSE, Tsinghua University and HEC. SSE offers both bachelors and masters degree programs, MBA and PhD programs as well as providing extensive executive education customized and open programs.