Implementing accounting standard 68 (PSAK 68) adopted by IFRS 13 has brought changes in reflecting the market value previously explained by earnings per share and book value. This study investigates the relevance of fair value estimates as measured by the beta coefficient in firms in the financial industry. Specifically the study will focus on whether the hierarchy of fair value financial liabilities and assets of the firms can affect the market value. The research is quantitative research using archival methods. Sampling used a purposive sampling technique with a sample of 240 firm-years. The results indicate that financial assets for level 2 (inputs other than quoted prices that are observable directly or indirectly) and level 3 (unobservable inputs generated by entities) positively have value relevance. All three hierarchy fair values of financial liabilities fair value negatively have value-relevance. These results indicate that Investors pay higher financial assets for levels 2 and 3 than levels 1. Meanwhile the value relevance of financial assets and liabilities as measured by R-squared is relevant. This means that investors also trust that each hierarchy s fair value affects the market value. The implications of this research are for developing the clean surplus theory which states that the company s market value can be explained by the fair value of financial assets using level 2 and level 3 as well as level 1 level 2 and level 3 financial liabilities.