This research examined whether the benefits of parents' involvement in children's learning are due in part to value development among children. Four times over the 7th and 8th grades, 825 American and Chinese children (M age = 12.73 years) reported on their parents' involvement in their learning and their perceptions of the value their parents place on school achievement as well as the value they themselves place on it. Children's academic functioning was assessed via children's reports and school records. Value development partially explained the effects of parents' involvement on children's academic functioning in the United States and China. For example, the more children reported their parents as involved, the more they perceived them as placing value on achievement 6 months later; such perceptions in turn predicted the subsequent value children placed on achievement, which foreshadowed enhanced grades.