A corporation acquires the assets and liabilities of a securities brokerage firm for a price in excess of net book value. A Markov analysis is used in conjunction with human resource accounting to value a pool of account executives employed by the brokerage firm. The tax implications of imputing a portion of the purchase price premium to the pool of human assets (as opposed to goodwill) are discussed.
Flamholtz, Eric G.; Geis, George T.; and Perle, Richard J., "A Markovian Model for the Valuation of Human Assets Acquired by an Organizational Purchase" (1984). Finance & CIS Faculty Works. Paper 3.
Flamholtz, E.G., Geis, G.T., and Perle, Richard J. "A Markovian Model for the Valuation of Human Assets Acquired by an Organizational Purchase." Interfaces 14 (1984): 11-15.