FAIR VALUE EMPIRICAL STUDIES: AN OVERVIEW ON
                ACCONTING RESEARCH LITERATURE


              Carmen Giorgiana Bonaci, Babeş-Bolyai University of Cluj Napoca
                Adriana Tiron Tudor, Babeş-Bolyai University of Cluj Napoca

ABSTRACT: Our paper develops a literature review on fair value studies. The purpose of the
study is to synthesize the main results of accounting research literature empirically
approaching fair value measurement. Therefore, our analysis imposes the use of literature
review methodology. After briefly introducing the concept of fair value, the first part of the
paper follows the shift taking place in accounting paradigms when it comes to accounting
models. The main part of the paper discusses empirical studies on fair value by closely
analyzing their research design, the employed research methodology and the obtained results.
The originality of the paper as well as its contribution consist in offering a comprehensive
overview on studies in accounting research literature that analyze fair value accounting
through an empirical approach. Discussing the relevance and reliability of such studies further
impacts upon the relevance of their results and how they can be used.

Key words: Fair value, accounting model, empirical studies, research literature

JEL codes: M40, M41