In the current economic conditions, accounting applications seem to face new and complex challenges. Especially, these challenges are on the basis of fair value. Recent crisis has highlighted the complexity and difficulty of valuing financial instruments when market information is not available...

The purpose of this paper is to give a comprehensive theoretical review devoted to asset pricing models by emphasizing static and dynamic versions in the line with their empirical investigations. A considerable amount of financial economics literature devoted to the concept of asset pricing and...