Warning message

Please note that this page is from our archives. There may be more up-to-date content about this topic on our website. Use our search engine to find out.



Faculty of Management, University of Toronto
105 St. George Street,
Toronto, Ontario
M5S 3E6


B.A., University of Wisconsin (Economics), 1941
M.A., Harvard University (Economics), 1947
Ph.D., Harvard University (Economics), 1952

Employment History

Assistant Professor:
Graduate School of Industrial Administration, Carnegie-Mellon University, 1947-52

Associate Professor:
School of Management, Massachusetts Institute of Technology, 1952-62

Professor School of Management:
University of Rochester, 1962-70
Faculty of Management, University of Toronto, 1970-present

Visiting Professor:
University of California at Berkeley, 1966-67
Hebrew University, Jerusalem, 1973
University of Pennsylvania, 1977
New York University, 1985


Over 90 articles on finance, economics, accounting, and China’s economic development. Five books, including Finance Investment and Macroeconomics: The Neoclassical and a Post Keynesian Solution, 1994.


Ford Foundation Faculty Fellow - 1962-1963; Connaught Faculty Fellow - 1982-1983; President, American Finance Association - 1975-76; Fellow, Royal Society of Canada - 1993; Honorary Doctor of Laws Degree, McMaster University - 1993.

Scholarly & Professional Activities

Associate Editor, Journal of Finance, Financial Management, Journal of Banking & Finance, and Journal of Economics & Business. Various Committees of American Finance Association, American Accounting Association, Institute of Management Sciences.


Below are selected publications, testimony, and studies on my development of the Gordon dividend growth model for use in rate-base, rate-of-return regulation and on the privatization and deregulation of electric power companies in Canada. My dividend growth model has been adopted by the United States Federal Energy Regulatory Commission as the accepted method for arriving at the allowed rate of return for a public utility.

The Cost of Capital to a Public Utility, East Lansing, MI: Michigan State University, l974.

“Rate of Return Regulation in the Current Economic Environment,” published in Adapting Regulation to a Period of Shortage Curtailment, and Inflation, edited by John L. O’Donnell, Michigan State University, Institute of Public Utilities l977. (Presented at the Eighth Annual Conference of the Institute of Public Utilities, at Michigan State University, November 4-5, l976.)

“Testimony of Myron J. Gordon and Lawrence I. Gould,” On the Rate of Return AT&T Should be Allowed to Earn, Federal Communications Commission Docket No. 79-63, April, 1980.

“Comparative Costs of Financing Ontario Hydro as a Crown Corporation and a Private Corporation” in R.J. Daniels, Ontario Hydro at the Millennium, Montreal: McGill-Queens, 1996, 231- 255.

“A Statement on the Costs and Benefits of Privatization and Competition in the Ontario Electric Power Industry,” for the Advisory Committee on Competition in Ontario’s Electric Power Industry of the Province of Ontario, at the Request of the Power Workers Union. January 25, 1996.

“Memorandum of Evidence,” before the Public Utilities Board of Manitoba in the matter of the Manitoba Hydro General Rate Application, on behalf of the Consumers Association of Canada (Manitoba) and the Manitoba Society of Seniors, Inc. February, 1996.

“Ontario Hydro After the MacDonald Committee Report: Its Disastrous Consequences for the People of Ontario,” an analysis of the recommendations of the MacDonald Committee, prepared at the request of the Society of Ontario Hydro Professional and Administrative Employees, October 3, 1996.

“A Statement on Retail Transmission Access in British Columbia and Related Matters,” for the British Columbia Utilities Commission, at the request of the Office and Professional Employees International Union, Local 378. March 26, 1997.

“Ontario’s Options for Ontario Hydro.” Policy Options, April 1997: 16-19.

“The Consequences of Privatizing New Brunswick Power and Deregulating the Electric Power Industry in New Brunswick.” For the Select Committee on Energy of the New Brunswick Legislature at the request of Locals 2309 and 1733 of the International Brotherhood of Electrical Workers. January 6, 1999.

“An Examination of the Comparative Financial Consequences of Owning and Selling Epcor for the people of Edmonton,” for the City Council of Edmonton, at the request of the Parkland Institute June 1999. 22 pages.

“Don’t Sell Hydro Short.” Policy Options, June 1999: 61-4.