This paper focuses on the presentation of fundamental aspects of the literary theory according to the views of three researchers – A. Compagnon, W. Iser and P. Ricoueur, drawing both their directions of receiving a literary work and important concepts conveyed. Representation and interpretation are the core both of the work and of the vision shared by the three theorists in approaching a literary work, leaning both on authorial intention and the intention of the reader in the process of interpretation.